The Graph main net was launched on Thursday at roughly 10 am EST (3 pm UTC) and was listed on BINANCE and COINBASE after a few hours, creating excitement and interest in lots of people. You can read this article if you wish to know more about this amazing protocol. In this article instead, we'll focus on updates that happened this week.
Thursday to Sunday
The price during the ICO was $0.03. Some people sold their GRT immediately at the first listing price of 0.10$. But in the first 3 days of its journey, the price went up to $0.78 for a stunning 800% for the first listing price and 2400% for ICO investors, with volumes as high as 3 billion usd. Meanwhile, the first subgraphs were deployed and we got to take a better look at how staking (delegating) works. One of the most important things we understood is that indexers tend to give a big part of the query fees cut to delegators, incentivizing them to put their GRT into their subgraphs and consequentially attract more stakers. Also, we understood that there's a penalty for removing GRT from a subgraph (this is done so people don't stake and remove randomly their tokens and to force investors to choose wisely a subgraph they like). Also, the GRT are blocked for 28 days. Personally, I don't really like this big time window, mostly because the indexer could lower the fee cut to investors and put them in a bad situation for some weeks. Honestly tho, good indexers will never do that. Delegators are essential to secure the network.
Monday to Wednesday
Monday was generally a red day for the Crypto market, probably because of Christmas incoming and people taking their weekly profits. GRT dropped to $0.45 at minimum. Tuesday was the day of the recovery and GRT jumped back to $0.60.
Conclusions
The Graph first week of life was surely a nice ride with big surges and high volumes, but also big drops!
If you feel like it and this was useful, please leave a tip. Also maybe follow me on Twitter here. If you want to buy GRT (this and nothing in this post is financial advice) you can do it on Binance or on Coinbase (if you put 100$ you get a 10$ bonus for free!) (Those are my referral links, thanks for using them).
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