- The dominance of delegates on the Graph network has not diminished.
- On the other hand, GRT price is trending towards the oversold region as of press time.
picture [GRT] is a decentralized protocol that allows users to query and index data from numerous blockchains. These services are provided by a network of nodes called indexers.
Indexers must stake GRT tokens as collateral to join the network, and they can stake their tokens or delegate them to third parties. However, the network gradually sees more principals than stakeholders.
How much is 1,10,100 GRT worth today
Learn about The Graph staking and delegation
Staking adds GRT tokens to the protocol as security for joining the network as an indexer. To ensure they have an incentive to act in the best interest of the network, indexers stake their tokens, effectively locking them up as collateral.
In contrast, delegation gives someone else the right to stake your GRT tokens on your behalf. It enables people to participate in the network and earn rewards even if they want to run something other than their own Indexer.
They lend tokens to indexers to be used as collateral when delegating tokens to indexers.
The Supremacy of Delegation on The Graph
According to Dune Analytics, the network always has more delegators than stakers. The popularity of delegation may be due to how simple it is to hand over GRT tokens to other people rather than dealing with the technical details of staking.
As of this writing, there are approximately 1 billion delegates and 500 million stakeholder participants.
According to statistics from Staking Rewards, as of this writing, the total amount of GRT staked is 26.41%. Additionally, as of this writing, the market capitalization of staked GRT is close to $311 million.
According to information from CoinMarketCap, the entire market capitalization exceeds 990 million.
Realistic or not, this is GRT market cap in BTC terms
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Although The Graph network has an outstanding stake, its price may have been better recently. As of this writing, GRT is losing more than 3% of its daily trades, around $0.11.
The price action of GRT is very flat and close to the oversold area. The relative strength index (RSI) line is well below the neutral line and below 40.
Information source: compiled from AMBCRYPTO by 0x information.Copyright belongs to the author, without permission, may not be reproduced