- 1 Graph Crypto is a venture that concentrates on decentralized indexing and searching.
- 2 GR coin is trading on its 50-day EMA, see whether it will break or bounce.
Graph Crypto is a project that focuses on decentralized indexing and querying. It is powered by GRT, which is not just another cryptocurrency. GRT’s use cases and overall aims drive the platform forward and define its success and continued existence.
The network’s launch in 2020 has seen over one billion queries made to date. Its community members are committed to the platform, resulting in a steady increase in usage.
Indexing works similarly to Google’s internet indexing. Data is stored in open APIs called subgraphs, making it accessible to all. The Graph ecosystem currently indexes two major blockchain networks, Ethereum and Filecoin.
The Graph recognized this technical barrier and created powerful tools to simplify data indexing and querying, driving innovation in the process.
Security was also a top priority throughout the software development process. Indexing by The Graph is similar to library catalogues, which provide information on all available books. The Graph index provides access to all the application data it is aware of.
In the Graph network, the Graph protocol immediately returns the data, which it analyses and stores in various indices known as subgraphs. The process uses GraphQL, an open-source query language originally developed by Facebook, to gather data for its news feed. Applications can easily access this data by using queries to help them run their software.
Decentraland uses The Graph’s data to locate land, accessories, and collectibles across various apps and makes them available in their marketplace. Curators, Indexers, and Delegators are the three categories of users on The Graph.
The Graph Nodes scan network blocks and smart contracts for information and are the first step in aggregating data.
Developers create subgraphs or use old ones in their dApps, which outline the exact information that the Graph protocol will index from a particular blockchain and how it will store it. When an application updates the blockchain with new data using smart contracts, the Graph Node adds the data to its appropriate subgraphs.
Technical Analysis and Prediction of the GRT Coin Price
GRT/USDT chart by TradingView (Daily time frame)
In February 2021, the price of the GRT price skyrocketed and attained the highest point ever recorded at $2.87. Nevertheless, the sentiment has been unfavorable since then. The prices have been on a downward spiral due to the bearish trend of the overall crypto market.
At press time, the GRT price is on the 50-day EMA the bullish investors are struggling to protect against a downfall. The support level is at $0.1440 and $0.1198 while the GRT bears are likely sitting on the $0.1885 resistance level. The 150 day EMA is just below the current support level and is likely to provide support in case of a downfall
Conclusion
Developers use The Graph’s tools to simplify data indexing and querying for their dApps. The GRT price hit an all-time high of $2.87 in Feb 2021. The 150-day EMA is just below the current support level, which can provide support in case of a downfall.
Technical Levels
- Support Levels: $0.144 and $0.119
- Resistance Levels: $0.1885. and $0.2214
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Nancy J. Allen
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
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