Ethereum

Token

Defi

The Graph

<ul class="list-ic vertical">
 <li><span>1</span> <a>The Graph has been seeing a strong net outflow from the Ethereum ecosystem since the start of 2024.</a></li>
 <li><span>2</span> <a>GRT token price is currently trading near the value of $0.3139 with a 0.65% drop intraday.</a></li>
</ul>
<p><strong>The Graph</strong> is an indexing protocol and global API for organizing the <a href="https://www.thecoinrepublic.com/2024/05/25/mastercard-is-leveraging-blockchain-and-ai-to-improve-operations/" target="_blank" rel="noopener noreferrer nofollow">blockchain </a>data. accessible through the GraphQL. The developers and builders can find and publish all the data they need to build their Dapp platform. It empowers various applications in both the Defi and Web3 ecosystem.</p>
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 <figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="449" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-359-1024x449.png" alt="" class="wp-image-207195" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-359-1024x449.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-359-300x132.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-359-768x337.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-359-1536x674.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-359-750x329.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-359-1140x500.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-359.png 1598w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p class="has-text-align-center">Source: Thegraph.com&nbsp;</p>
<p>Recently <strong>The Graph foundation</strong> launched the 4 Million GRT sunrise program empowering anyone on the internet to revolutionize the way the world accesses data. &nbsp;It is composed of a variety of creative technical and non-technical missions in support of The Graph’s Sunrise of Decentralized Data.</p>
<h2 class="wp-block-heading" id="strong-will-the-declining-stake-of-grt-prove-to-be-harmful-for-protocol-strong"><strong>Will the Declining Stake of GRT Prove to be Harmful for Protocol?</strong></h2>
<p><strong>The Graph protocol </strong>enables the developers to build faster and create groundbreaking protocols without needing to run their own data server. It also cuts down cost and time spent on running expensive infrastructure with an increase of 99.9% resilience and uptime. There are over 70k+ projects and 100+ indexer nodes on<strong> The Graph</strong> network. Meanwhile, GRT can be delegated to the indexers and rewards can be earned.</p>
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 <figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="259" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-360-1024x259.png" alt="" class="wp-image-207196" style="width: 100%" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-360-1024x259.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-360-300x76.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-360-768x194.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-360-750x190.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-360-1140x288.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-360.png 1492w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p class="has-text-align-center">Source: Staked GRT by Dune</p>
<p>The Staked <strong>GRT</strong> declined sharply. Its reached the low of 524 GRT on a daily basis. Meanwhile, the total staking outflow from Ethereum has observed a strong surge and is near -130045 <strong>GRT.</strong></p>
<p>The token has a total of 162713 holders and has observed a decline in the number of unique senders and receivers. The number of unique senders and receivers has declined from the high of 1200 to 692 within a few months.</p>
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 <figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="255" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-361-1024x255.png" alt="" class="wp-image-207197" style="width: 100%" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-361-1024x255.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-361-300x75.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-361-768x191.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-361-750x187.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-361-1140x284.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-361.png 1492w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p class="has-text-align-center">Source: The Graph Active entities by scan.0xscope.</p>
<p><strong>The Graph protocol </strong>has a total of 15269 active entities with an average of 17 daily active addresses. The token price has remained constant despite the low activity by the entities.</p>
<h3 class="wp-block-heading" id="strong-are-grt-bulls-ready-for-a-run-strong"><strong>Are GRT Bulls Ready for a Run?</strong></h3> 
<p><a href="https://in.tradingview.com/chart/GRTUSDT/Hm1je3tO-</a> by <a href=" https: in.tradingview.com u ritika_tcr rel="noopener noreferrer nofollow">Ritika_TCR</a> on <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow">TradingView.com</a></p> 
<p>The Graph protocol has a market cap of $2.9 Billion and is ranked 39th in the CMC. The volume of token price has seen a surge of 47% in the last 24 hours. GRT token price is trading near the value of $0.31 with a slight gain in the intraday session.</p>
<p>GRT token price is forming weak bearish candles on the daily chart. It is trading below the 50 and 100 EMAs on the 4-hour chart. The upside trend of the asset price could halt near $0.45. Meanwhile, the support for the asset price can be seen near $0.28.</p>
<p>The RSI of GRT is near 41 with no slope in it. The overall sentiment of the indicator is bearish.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>The Graph protocol is declining in the GRT stacked and the daily active users. Meanwhile, the overall transactions on the protocol has remained constant. GRT token price is currently in a consolidated stage but could mark a new high in the future.</p>

Graph (GRT) Token Price Ready To Hit The $1 Mark In 2024?

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