The Graph is a token. It has no blockchain of its own and no consensus of its own — it rents both from the chains it is issued on, which is why it is listed separately from the cryptocurrencies.
| CoinSpectrum Grade | E · 32/100 · provisional |
|---|---|
| Type | Token |
| Class | AI |
| Backing | Non-backed |
| Market capitalisation | $245M |
| Price | $0.0224 |
| Circulating supply | 10,941,320,353 GRT |
| Issued on | 8 chains |
Market data rebuilt every six hours; this build 28 October 2026. Live prices on the ranking.
E — 32 out of 100, provisional (from 8 of 10 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 26 to 46 (E to D).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms | 4.9 | group average |
| Host chain | 7.9 | Issued on Ethereum (A, 79/100) |
| Asset class (below every coin family) | 1.8 | Tokens: below every native coin family on the consensus ladders, 0.9 of 10 by largest asset and 2.7 by combined market cap |
| Network security | 0 | No network of its own: secured by its host chain, scored above |
| Decentralisation | 1 | group average, 3 of 4 measured |
| Minting and supply (who can mint more) | 0 | GraphToken mint() is onlyMinter (RewardsManager); governor is The Graph Council, a 4-signature Gnosis Safe, which sets the issuance rate - not token-holder voting.; no fixed maximum supply source |
| Premine (pre-issued at launch) | 1.4 | 86.1% of supply pre-issued at launch. 10B genesis of ~11.61B current total; the rest is ~3%/yr indexing-reward issuance. source |
| Fundraising | 1.5 | Sold to the public or to investors: 85% of supply was the insiders' to sell, 40% sold. Backers gave $7.5M (Apr 2018-Jun 2020; seed led by Multicoin, Jan 2019); public sale Oct 2020: 400M GRT (4%) for $12M at $0.03; a further 2% sold to Indexers/strategic community at $0.026. Later $50M round (Jan 2022). source |
| Holder concentration | — | Not yet measured |
| Supply & Demand | 6.6 | group average |
| Supply & Demand | 6.8 | average of 5 measures |
| Exchanges (10 or more: 10) | – | exchanges not yet counted |
| Daily volume ($10K 0, $1B or more 10) | 5.1 | $3,905,400 traded in 24 hours; #306 by volume on the exchanges the site reads (scored on the median day of the last 2, $3,477,503) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 7.3 | 1.5% of its market cap a day, median of the last 3 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 7.8 | $526,345 within 2% of the price on 8 exchanges, 0.22% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 6 | $245M, 6 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8 | futures, options and margin positions 4.2% of its market cap |
| Supply (smaller is better) | 6.4 | no fixed maximum; 10.9 billion in circulation |
| Record (origin, claims, halts) | — | Not yet reviewed |
Ten criteria, weighted equally — for a token, the host chain replaces the developer share, the asset class stands in for the consensus ladders, and who can mint more for the Cryptocurrency Standards. Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
| Pre-issued at launch | 86.1% of supply |
|---|---|
| To team, investors and treasury | 85% of supply |
| Sold to the public or to investors | 40% of supply |
| Who can mint more | An issuer, foundation, multisig or admin key can mint more |
| Fundraising | Private or venture funding |
10B genesis of ~11.61B current total; the rest is ~3%/yr indexing-reward issuance.
Backers gave $7.5M (Apr 2018-Jun 2020; seed led by Multicoin, Jan 2019); public sale Oct 2020: 400M GRT (4%) for $12M at $0.03; a further 2% sold to Indexers/strategic community at $0.026. Later $50M round (Jan 2022).
GraphToken mint() is onlyMinter (RewardsManager); governor is The Graph Council, a 4-signature Gnosis Safe, which sets the issuance rate - not token-holder voting.
Official percentages are given as approximate.
Sources: thegraph.com · thegraph.com · forklog.com · eth.blockscout.com. Researched 2026-10-23, high confidence.
It is issued on 8 chains, which means 8 separate issuances of the same claim. Linked names are chains that are themselves cryptocurrencies with a page here.
CoinSpectrum counts an asset once. A token has neither its own blockchain nor its own consensus mechanism, so it fails both of the site's two conditions — it is a thing issued on a chain, and the chain is what is counted. The methodology states the rule, and the argument for it is set out in full.
Listed, not hidden. The point is that it is measured as what it is.