The Graph (GRT) Price Today

The Graph's all-time high is $2.84, reached on February 12, 2021. At today's price of $0.0142, GRT trades 99.5% below that peak. Its lowest recorded price was $0.0170 on July 13, 2026.

Over the past 30 days GRT has moved −21.48% and over the past 90 days −42.53%.

Circulating supply is 10,915,627,762 GRT , with no fixed maximum supply. GRT has no maximum supply: 10 billion existed at genesis and the protocol targets about 3% new issuance a year, paid to indexers, against roughly 1% of supply burned — net-inflationary unless fee burns grow.

What moves The Graph's price

• The roles economy and how fees actually flow: consumers pay query fees in GRT, distributed to indexers through a rebate mechanism tied to allocated stake, with 1% of query fees burned. Indexers must self-stake at least 100,000 GRT (slashable 2.5% for faults) and can accept delegation up to 16 times their self-stake; delegators pay a 0.5% burned delegation tax and face a roughly 26-day unbonding period.
• The usage-versus-valuation gap, in the network's own disclosed numbers: Q4 2025 protocol revenue was about $98,700 in subgraph query fees plus about $239,200 from Substreams — roughly $340,000 for the quarter, against a market cap near $190 million. Annualized, fee revenue runs on the order of 1% of market cap, and query volume has declined for two consecutive quarters from its Q2 2025 peak of 6.49 billion to 4.97 billion, even as active subgraphs hit an all-time high of 15,539 (Messari, State of The Graph Q4 2025).
• Structural net inflation: the protocol's own documentation targets about 3% annual new GRT issuance to indexers against roughly 1% of supply burned per year through the query-fee burn and delegation/curation taxes. Holders are diluted unless fee demand grows several-fold.
• The hosted-service sunset: on 12 June 2024 The Graph retired the free hosted service that carried most early usage and moved all queries to the paid decentralized network, with a 100,000-query monthly free plan for small users. The fee figures above are the post-sunset reality — real, paid demand, honestly small.
• The 2024–26 pivot toward AI and knowledge graphs, by what verifiably shipped: the GRC-20 knowledge-graph data standard, the Geo Genesis knowledge hub (January 2025), a Token API beta (March 2025), Chainlink CCIP integration for cross-chain GRT (May 2025), and Edge & Node's 'ampersend' AI-agent payments platform (announced October 2025).
• The drawdown is part of any honest assessment: GRT peaked at $2.84 on 11 February 2021, days after listing-era momentum, and set a fresh all-time low of $0.01697 on 13 July 2026 — about 99.4% below the peak, across two full market cycles. Early private investors paid roughly $7.5 million for about 17% of supply, a cost basis below even today's price.

About The Graph

The Graph was founded in 2018 by Yaniv Tal, Brandon Ramirez and Jannis Pohlmann to solve blockchain data indexing. It raised about $25 million by late 2020 — a Multicoin-led seed, a private sale including Coinbase Ventures and Digital Currency Group, and a $12 million public token sale — and launched mainnet on 17 December 2020, the same day Binance and Coinbase Pro opened GRT trading. The founding company renamed itself Edge & Node, one of several core developer teams funded by The Graph Foundation; co-founder Yaniv Tal later stepped down as its chief executive to build Geo, a knowledge-graph application that uses The Graph but operates as a separate business.

Governance is not token voting: protocol changes are decided by The Graph Council, a 6-of-10 multisig spanning five stakeholder groups, with broader decentralisation described as a future step. The network completed its defining transition in June 2024 when the free hosted service was retired and all traffic moved to the paid decentralized network. Today it indexes many chains, serves around five billion queries a quarter across roughly 15,500 active subgraphs, and is repositioning around knowledge graphs and AI-agent infrastructure — while the token trades near an all-time low set this month.

GRT tokenomics

Genesis supply was 10 billion GRT with no fixed maximum; about 10.9 billion circulate. Issuance targets 3% annually, paid to indexers as indexing rewards, while roughly 1% of supply is burned each year through the 1% query-fee burn, a 0.5% delegation tax, a 1% curation tax and slashing — net-inflationary at current activity. The initial allocation put roughly 35% with the community and about 48% with insiders (early team and advisors 23%, backers 17%, Edge & Node 8%), with vesting spanning roughly two to ten years; private investors paid about $7.5 million for around 17% of supply and public-sale buyers paid $0.026–$0.03. Indexers self-stake at least 100,000 GRT; delegators face a roughly 26-day unbonding period; curators pay a 1% tax to signal on subgraphs.