• The Graph experienced significant ecosystem growth in Q4 2022, according to a report from Messari titled “State of The Graph Q4 2022.”
• Participants on the network, including Indexers, Curators, and Delegators all increased within the three-month period under review.
• GRT’s price might be due for a reversal with a bearish divergence spotted on the daily chart.
The Graph Experiences Ecosystem Growth In Q4 2022
According to a recent report from Messari titled „State of The Graph Q4 2022,“ the open-source and decentralized indexing protocol for blockchain data The Graph experienced growth in key ecosystem metrics during the fourth quarter of 2022. The Graph is an open-source, decentralized protocol for collecting, processing, and storing data from blockchain applications for easy information retrieval. Deployed on the Ethereum blockchain, it helps developers to increase the efficiency of their decentralized applications (dApps) by using relevant data. The Graph analyzes and stores blockchain data in indices called Subgraphs which allows quick responses to queries sent to its protocol.
Growth Of Active Subgraphs On Mainnet
As of December 2022, there were 618 active subgraphs on the mainnet – representing a 25% increase from the previous quarter and 151% increase from the previous year. According to Messari, this growth is expected to continue over time as more people use and build upon it.
Participants On Network Increase
The ecosystem comprises Indexers who operate graph nodes to process and store on-chain data; Curators who signal which subgraphs are worth indexing; and Delegators who may lack technical know-how or resources to index but can delegate GRT tokens towards Indexers instead. As of December 2022, curators were signaling over 26 million GRT towards active subgraphs while query fees are further distributed among Delegators and Curators as rewards for their efforts on network. During Q4 2022 alone there was an 33% increase in Indexers while Curator count went up by 2%. Delegator number rose by 9% during same period too.
GRT Price Reversal Anticipated
GRT’s price might be due for a reversal with a bearish divergence spotted on its daily chart according to analysts predictions with realiable sources proving correct at times too..
Realistic Prospective Of GRT Market Cap
A second look reveals that ETH terms reflect realistic prospective regarding GRT market cap although no one knows what results lies ahead as markets can sometimes surprise us unexpectedly!
