There are many young investors and traders today who are interested in cryptocurrencies. They are aware of the volatility it provides and are keen to cash in this volatility, which allows them to get higher returns. However, cryptocurrency comes with higher risks also, which the younger generation is ready to take. The graph is one such crypto that has been in discussions recently. This is a very promising project that is used by thousands of developers worldwide today. Let us learn more about this coin and how you can invest in it.
What is the graph crypto?
The graph token is denoted by the term GRT. It is also traded under this name. GRT was founded in the year 2018, and the founders are Yaniv Tal, Jannis Pohlmann, and Brandon Ramirez. They are all developers who came up with the idea for this token. The motivation behind this was to provide services in a faster and more accurate manner like in the centralized system.
The crypto graph is an indexing protocol built on the Ethereum blockchain. It helps power many applications of decentralized finance and web 3.0. Developers can easily build and publish apps using the hosted service production in the graph network. Currently, the graph supports indexing data from Ethereum, POA, and IPFS. The developers are working to increase support for other tokens in the future.
As of now, there are more than 3,000 subgraphs on the graph crypto. These subgraphs were developed by many developers for Dapps like AAVE, Balancer, Uniswap, Synthetix, and more. The rate of growth has been approximately 50% every month, which is amazingly fast for this developing crypto. The project is also backed by some big names in the crypto universe like Coinbase and Multicoin capital. Together, they have an investment close to around $25 million in this project.
How to buy graph token?
This is quite simple — you can buy GRT across many crypto exchanges in India. The graph price keeps changing all the time since it is traded 24×7. The graph price started at $0.14 and hit an all-time high of $2.88 in 2021. This token has a market cap of almost $3 billion now and is among the top 50 biggest cryptocurrencies in terms of market capitalization. This makes it less risky compared with other smaller cryptocurrencies.
To sum it up
Investing in crypto is always a risky affair; so, you need to do your research thoroughly and invest within a broader time frame. You should only invest the money you are willing to lose as it is still a risky and growing asset class. There is no best crypto coin to invest in. However, with coins like the graph, one can reduce this risk and have the option to get high returns over time. However, nothing is guaranteed in today’s day and age — especially in the crypto space.