Why buy The Graph in July? An In-depth look at its innovation
- The Graph has seen a stable increase in value within the past 24 hours.
- We saw an increase of over 12% which brought its value over the $0.60 mark.
- GRT is an Ethereum-based token that powers The Graph and is an essential part of it.
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The Graph GRT/USD functions as a link between dApps as well as different blockchains and provides a solid data querying platform that other blockchains, as well as projects, can use for any data requirements.
On June 17, The Graph enlisted StreamingFast in a $60 million grant deal. In other words, The Graph Foundation awarded $60 million grant to StreamingFast in order to join the ecosystem for indexing the decentralized internet for search.
This showcases a huge interest in the growth of the ecosystem, which will lead to an increased level of functionality and in turn, a higher value of the GRT token due to increased use-cases.
Recent catalysts to support GRT
On June 25 we saw how The Graph protocol provided accurate data analytics for liquid providers, traders, and dApps through the usage of Kyber DMM. This was excellent news as it showcased the prowess The Graph has and how it can be implemented throughout various other technologies. GRT’s value was $0.62 here.
On June 29. 2021, The Graph Blockchain Purchased DuckSTARTER tokens for the Beyond and Moon First Launchpad. In other words, Beyond the Moon acquired 100,000 DUCK tokens which are locked in the Champion Tier, which is the highest tier on the launch platform.
The Champion Tier guarantees the allocations in each initial Dex Offering.
With the hype surrounding this, we can expect huge mainstream media attention, which will lead to a lot of purchases when it comes to GRT tokens and can potentially push its price higher.
Furthermore, The Graph’s newest core developer StreamingFast was able to get PancakeSwap indexing down to half a day while remaining API-compatible with The Graph’s Subgraph API.
As of recently, from the start of June up to its end, the value has fluctuated between the $0.94 and $0.45 mark, indicating just how high or low its value can be even despite all of the developments and support.
Should you buy The Graph (GRT) now?
On June 29, the value of GRT was $0.62. A day before that, it was at $0.54. It has been steadily climbing up the charts and has increased 12% within the last 24 hours.
Throughout the hype surrounding The Graph’s future as well as all of the developments around the project, we can realistically expect its value to rise to $0.75 by the end of July.
Through subgraphs, The Graph indexes blockchain data which users can access through the GraphQL API.
The Beyond the Moon First Launchpad DuckSTARTER has the potential to shine, and The Graph’s usage on the Kyber DMM has proven to be efficient.
This in turn means that users are genuinely interested in using The Graph’s various capabilities, and predict that its value can only go up from here.