The Graph's GRT Token Surges 25% Ahead of Query Migration

The Graph's native token GRT surged by 25.58% in recent market activity, fueled by the upcoming query migration from Subgraph Studio to The Graph Network.

The Graph Foundation announced its plans to move query traffic onto the network, which will allow decentralized indexers to process queries and earn fees in GRT.

The transition is set to begin on October 8th with BNB Smart Chain and Polygon, with additional networks joining later.

The market responded by increasing participation around GRT, with spot volume surging to $117.1 million, a 530.9% increase.

The derivatives market also saw significant activity, with trading volumes soaring 892.99% to $150.25 million and Open Interest (OI) increasing by 61.59% to $29.74 million.

However, the surge in OI adds sensitivity to subsequent price movements, as sharp reversals could trigger leveraged traders to unwind positions quickly.