The Graph's $GRT token price has more than doubled in the last seven days due to its strong revenue growth in Q4 2022. According to a recent report from Messari, the Graph experienced a 66% quarter-over-quarter increase in $GRT revenue from query fees in the fourth quarter of 2022.
The Graph is an indexing protocol that eliminates the need for data consumers like app developers to build complex infrastructure for gathering on-chain data. It supports indexing data from 26 different blockchain networks, including Ethereum, Moonbeam, Polygon, and IPFS. The two main sources of revenue for The Graph are inflationary indexing rewards and query fees paid by data consumers.
The recent surge in $GRT may also be attributed to its connection to AI-related tokens, as the project is classified as AI-related project by CoinMarketCap.
Web3
Data
