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GRT to USDT Converter
1 GRT = 0.0217996 USDT · updated 06:21 UTC
Volume Bubbles Chart (1h)
Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.Seasonal Chart
Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.The Graph Markets
The Graph Historical Data
About The Graph (GRT)
The Graph (GRT) is the token of The Graph, a decentralized protocol for indexing blockchain data. Raw blockchain records are hard for apps to search. The Graph organizes them so developers can query them quickly through open APIs called subgraphs. GRT is staked by the operators who run the network and is used to pay for queries. On this page, prices follow FMchart's composite, a US dollar figure averaged from several exchanges.
Subgraphs as open data APIs
A subgraph describes which on-chain data to collect and how to organize it. Once published, anyone can query it. Many decentralized apps use subgraphs to show balances, trades or histories without running their own indexing servers. Developers pay query fees in GRT. Indexers also receive indexing rewards paid in newly issued GRT, which is how most new tokens enter circulation.
Indexers, Delegators and Curators
Several groups keep the network running. Indexers operate nodes that process data and answer queries, and each must stake at least 100,000 GRT. Delegators delegate GRT to Indexers and share their rewards without running hardware. Curators signal which subgraphs deserve indexing and earn a share of query fees from the subgraphs they back. Undelegating takes 28 days, during which tokens earn nothing and cannot be moved.
Graph Horizon
Graph Horizon, a major protocol upgrade, was deployed to production in December 2025. More than 95% of query volume and Indexer stake moved to it. Under Horizon, there is no delegation tax, and delegators pick both an Indexer and a specific data service, with SubgraphService the main option so far. The Graph had already moved most protocol activity to Arbitrum, an Ethereum layer-2 network, in a phased migration that began in 2022.
Issuance, burns and the Innovation Allocation
GRT started with 10 billion tokens and has no maximum supply. New GRT, about 3% a year, rewards Indexers, while 1% of query fees and a 1% curation tax are burned. In August 2026, The Graph Council approved GIP-0089. It sends 20% of new issuance, or 24.146 of the 120.73 GRT minted per block, to a Foundation-held fund for network development. Total issuance stays the same, but less of it goes to Indexers. Burns slow supply growth but do not stop it.
Risks for GRT holders
Ongoing issuance adds supply each year, and burns have not fully offset it. Demand for GRT depends on how much query traffic flows through the network, and rival data providers compete for developers. Delegators depend on the Indexers they choose and cannot exit instantly, because undelegating takes 28 days. Governance through The Graph Council can redirect rewards, as GIP-0089 showed in August 2026. GRT also moves with the broader crypto market.
Last reviewed: Oct 8, 2026
The Graph (GRT) FAQ
What is The Graph (GRT)?
GRT is the token of The Graph, a protocol that indexes blockchain data so apps can query it quickly through subgraphs. Indexers stake GRT to serve queries, Delegators back them, and developers pay query fees in GRT. After a phased migration that began in 2022, most protocol activity now runs on Arbitrum.
What is a subgraph?
A subgraph is an open API that defines which blockchain data to collect and how to organize it. After it is published, anyone can query it. Apps use subgraphs to show information such as trades or balances without building their own indexing systems. Indexers on The Graph process and serve that data.
How does delegating GRT work?
Delegators assign GRT to an Indexer, who runs the infrastructure, and receive a share of rewards minus the Indexer's cut. Under Graph Horizon there is no delegation tax. Undelegating takes 28 days, and during that time the tokens earn no rewards and cannot be transferred. Rewards depend on the chosen Indexer's performance.
What is GRT's current price?
One GRT is worth about $0.0218 at the moment, according to FMchart's composite of several exchanges. In the past 24 hours, roughly $1.18M worth of GRT traded across the exchanges in FMchart's composite. Prices on individual exchanges can vary slightly from this average.
Is GRT inflationary, and is there a max supply?
GRT has no maximum supply, and about 10,941,320,353 tokens circulate today. New GRT of roughly 3% a year rewards network participants, partly offset by burns of query fees and curation taxes. Circulating GRT is worth about $238.1M, which ranks it 158.
What was GRT's all-time high?
GRT's highest price on record is $2.84, from Feb 11, 2021. Price Statistics compares that peak and the all-time low with today's price. Since then, GRT's supply has grown through issuance, and the protocol has moved to Arbitrum and adopted Graph Horizon in December 2025.
Which months were best and worst for GRT?
In FMchart's composite price history (since December 2020), GRT posted its biggest monthly gain in December 2020 (+185.9%) and its deepest monthly loss in May 2021 (-49.1%). Every other month is listed under Monthly Returns (USD), with calendar-year results in Annual Price (USD) Change. Strong gains and steep losses have both been common.
What is Graph Horizon?
Graph Horizon is a protocol upgrade deployed to production in December 2025, when more than 95% of query volume and Indexer stake migrated to it. It removed the delegation tax, and delegators must choose a specific data service as well as an Indexer. SubgraphService is the main data service available so far.
What is GIP-0089?
GIP-0089, the Innovation Allocation, was approved by The Graph Council in August 2026. It redirects 20% of new GRT issuance to a Foundation-held allocation that funds network development. Total issuance does not change, but the share paid out as indexing rewards becomes smaller.
Is GRT a good investment?
No one can answer that for you, and FMchart does not recommend tokens. GRT's value depends on query demand, competition from other data providers and governance choices about rewards. Ongoing issuance adds supply every year. GRT has also been volatile, like most crypto tokens.