The Graph
GRTThe full report. Score, pillars, arithmetic, risk, scenario, signal and notes.
Research, not financial advice. Read the terms.
About The Graph
Analysis of 30 Jun 2026The Graph (GRT) is decentralized blockchain data infrastructure for indexing, querying, and serving structured onchain data. As of June 30, 2026, official Graph materials describe a suite spanning Subgraphs, Firehose, Substreams, and Amp across 60+ networks, with more than 1.27 trillion lifetime queries served to 75,000+ projects through independent Indexers.
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CoinGecko market data shows GRT trading near $0.0179, about a $193 million market cap, rank 172, roughly $18.3 million in 24-hour volume, and almost fully diluted supply at 10.80 billion circulating out of 10.80 billion max.
That makes valuation look depressed, but also reflects severe token underperformance: GRT is down roughly 79% year over year, 99% below its February 2021 ATH, and only slightly above the June 28, 2026 all-time low.
The core product remains relevant for developers, AI agents, analysts, and enterprises, but the investment case still hinges on whether usage converts into durable GRT-denominated fees. The February 2026 technical roadmap positions Horizon as the base for multiple data services, with x402 payments, liquid staking, Substreams mainnet work, Amp SQL, and verifiable data services staged through 2026.