One of my favorite altcoins that I have paid particular attention to since its debut on Coinbase Earn was The Graph. While I normally convert the cryptos I earn on Coinbase to Ethereum or Tezos on I decided to just keep and watch. The $3 I received was over 16 coins worth so it never has gone below the $3 mark since I owned it which has been an awesome outcome!
When altcoins in general really took off now a couple of weeks ago The Graph going up as it did was not surprising and I did not really look too deeply into it. However, with the market doing what it has done and being pretty choppy I was shocked to see it pop up another 20% today alone. This brings this week's total to over a 60% increase this week alone. I figured at this point something must have been going on that was noteworthy. When I googled it the first article that popped up was from Forbes and discussed part of it!
The main developers of The Graph Core Protocol have started a new software company that is designed to support the protocol called Edge and Node. This company has signed a two-year agreement with The Graph Foundation to service the protocol. They will be helping maintain the core protocol and build new tools and applications for people to use. This is great that the main people will be around to continue to foster the development of The Graph. Since The Graph is built as an engine that allows anyone to be an indexer and create a subgraph of data and power it. To prevent malicious activity indexers have to stake The Graph's Native Token GRT. Since the launch of Mainnet in December, there are already 2811 subgraphs. Many large DeFi applications maintain their own subgraphs on the blockchain as well including the likes of Uniswap, AAVE, Balancer, and more.
With The Graph increasing in the number of people using subgraphs thus interacting with the token it is bound to catch more people's eye! With the ability to set up infrastructure faster using The Graph it separates itself from others simple to it. The founders of Edge and Node have also maintained the commitment to public decentralization which is equally as big with people in crypto right now! With possible regulation in the future of DeFi and definitely happening in more "mainstream" crypto having someone to maintain everything as these waters are vital. With the two-year commitment to and from Edge and Node, this maintains some stability in the project thus displaying confidence going forward!
They are also hosting their first "Indexer Office Hours" and have continued to develop the protocol with discussing indexer reward proposals! Engagement in a community is key and the "Indexer Office Hours" will help people developing their own indexes! These are fantastic developments that hopefully continue to occur which I can only imagine will continue to keep the price going up.
