Bubble
The Graph GRT
The Graph (GRT) was trading at $0.0160, ranked #185 by market cap at $175.82M, with 24h volume of $18.71M.
Data snapshot: 2026-09-02 12:15 UTC.
The Graph indexes blockchain data into queryable APIs called subgraphs, solving a plain problem: reading history directly from a node is slow, so most applications need an index in between. Indexers stake GRT and are paid for serving queries, with curators and delegators signalling which subgraphs deserve resources. The Graph indexes blockchain data so applications can query it — without it, an application wanting to show a user's transaction history would have to scan the chain itself, which is impractical. It is infrastructure that almost every DeFi front-end uses and almost no user has heard of. Indexers stake GRT and are paid for serving queries, with curators signalling which datasets matter. On this map GRT is best judged by query volume and the number of applications depending on it, which is a more concrete measure than most tokens offer.
What does indexing mean here?
Organising raw blockchain data so applications can query it efficiently. Without it, an application would have to scan the entire chain to answer simple questions.
Who uses The Graph?
Application front-ends across DeFi and NFT platforms, which need to display on-chain data quickly. Most users never see it because it sits behind the interface.
What is GRT used for?
Indexers stake it and are paid for serving queries; curators signal which datasets are worth indexing; delegators can stake to indexers.
How should its adoption be measured?
By query volume and the number of applications depending on it, which are concrete metrics rather than proxies.
Market cap decides how big a bubble is drawn, so rank is what places GRT on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #19 | Chainlink (LINK) | $6.44B |
| #116 | Pyth Network (PYTH) | $424.81M |
| #185 | The Graph (GRT) | $175.82M |