Infrastructure · Layer 1 & Scaling
The Graph all-time high and real returns GRT
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The Graph all-time highs and real returns
In dollars and pounds, before and after inflation, since Dec 2020.
−94.0%The Graph after US inflation since Dec 2020−38.2% a year
Down 92.3% in dollars since Dec 2020. After US inflation, down 94.0%. Against money printing, down 93.7%.
In pounds, down 92.0%, or down 93.9% after UK inflation.
- $ nominal
- −92.3%−35.5% a year
- £ nominal
- −92.0%−35.2% a year
- Real $ (US CPI)
- −94.0%−38.2% a year
- Real £ (UK CPI)
- −93.9%−38.1% a year
- vs US M2
- −93.7%−37.7% a year
- Measured from
- Dec 2020to Oct 2026, 5 years 10 months
- The Graph, Real $ (US CPI)$0.0271
- $ nominal$0.0271
- Oct 2026, latest
Loading the chart. Every figure is also in the table below.
| Period | $ nominal | £ nominal | Real $ (US CPI) | Real £ (UK CPI) | vs US M2 |
|---|---|---|---|---|---|
| Past year from Oct 2025 | −55.8% | −56.1% | –a (see note a) | −57.3% | −57.9% |
| 5 years from Oct 2021 | −97.4% −51.8% a year | −97.3% −51.5% a year | −97.9% −53.6% a year | −97.9% −53.7% a year | −97.6% −52.8% a year |
| Since Dec 2020 first month in our data | −92.3% −35.5% a year | −92.0% −35.2% a year | −94.0% −38.2% a year | −93.9% −38.1% a year | −93.7% −37.7% a year |
- a US CPI was not published for Oct 2025.
On month-end closes, The Graph's highest price was $1.719 in Mar 2021, which is $2.174 in Oct 2026 dollars after US inflation. The latest close of $0.0271 is 98.8% below the real high. The intraday record, $2.840 on 11 February 2021, is higher than any month-end close.
Cycle peaks, falls and recoveries
Month-end highs followed by a fall of 50% or more, and the high that stands today, in Oct 2026 money.
| Peak | $ then | Today's $ (US CPI) | £ then | Today's £ (UK CPI) | vs M2 today | Fall after | Back above, $ | Back above, real $ |
|---|---|---|---|---|---|---|---|---|
| Mar 2021 All-time high | $1.719 | $2.174 | £1.246 | £1.636 | $2.019 | −99.2% low Jul 2026 | Not yet | Not yet |
Return since our first month and since each cycle low
From the month-end close in the first column to Oct 2026.
| From | $ then | $ nominal | Real $ (US CPI) | Real £ (UK CPI) | vs US M2 |
|---|---|---|---|---|---|
| Dec 2020 First month in our data | $0.3505 | −92.3% −35.5% a year | −94.0% −38.2% a year | −93.9% −38.1% a year | −93.7% −37.7% a year |
| Jul 2026 Lowest since the high | $0.0143 | +89.4% | +88.8% | +91.9% | +88.4% |
Every month GRT closed at a new high
4 month-end closes above every earlier one
| Month | Close, $ | Today's $ (US CPI) |
|---|---|---|
| Mar 2021 | $1.719 | $2.174 |
| Feb 2021 | $1.589 | $2.024 |
| Jan 2021 | $0.7945 | $1.017 |
| Dec 2020 | $0.3505 | $0.4507 |
How these figures are worked out
Sources, inflation measures and what is left out
- Month-end closes from Binance, Dec 2020 to Oct 2026. Oct 2026 is still in progress, so its figure is the latest close rather than a month-end. Our history for The Graph starts in Dec 2020, so longer windows are left out.
- Real figures divide by US CPI (BLS, via FRED) or UK CPI (ONS, joined to the ONS long-run RPI before Jan 1988) and are stated in Oct 2026 money. The M2 lens divides by the US M2 money supply (Federal Reserve, via FRED). Pounds convert at each month's GBP/USD rate.
- US CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
- UK CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
- US M2 is published with a lag: Oct 2026 uses the Aug 2026 figure.
- A return of 12 months or more also shows its yearly rate. Gaps in a source are left as gaps and never filled in.
The Graph at a glance
- Down 92.3% in dollars since Dec 2020, down 94.0% after US inflation
- Down 93.7% against the US M2 money supply since Dec 2020
- 98.8% below its highest month-end close in today's money (Mar 2021)
- The Graph is at $0.0263, 99% below its $2.840 all-time high
- Bargain Score 57.4 out of 100, in the Mild discount zone
Key numbers
- Market cap $287.4m Rank 154
- 24-hour volume $11.8m
- 7 days -10.1%
- 30 days +44.2%
- Circulating supply 10.9bn No maximum supply
- Risk level High
- Listed on 3 of 5 Coinbase, Binance, Kraken
Why it sits in this zone
The model places The Graph in the Mild discount zone on a Bargain Score of 57, a partial set of buy-side conditions led by Price 99.0% below ATH, greed high and funding negative. The Graph is 99.1% below its February 2021 high of $2.84. A fall that deep means the price would have to rise about 109-fold just to return to that level, which is why the model applies its structural-collapse checks here.
What drives the score
Once the weights are applied, price distress (0.99 out of 1) adds the most to its score and project resilience (0.15) the least. It has come through one full market cycle by the model's definition, and its chance of a new all-time high is rated Medium. As a base-layer or scaling network, it tends to move with the rotation of money between large networks in a bull market, usually after Bitcoin.
Where the cycle targets come from
A smaller repeat of The Graph's past range would not get it back to its old high, so the model anchors the cycle targets to that high instead, at $2.98, $3.27 and $3.69, and even the low scenario would need a 11,252% move from today's price.
The Graph: questions people ask
What was The Graph's all-time high in today's money?
The Graph's highest recorded price was $2.840 on 11 February 2021, from CoinGecko's record of intraday trades. Restated with US CPI to Oct 2026, that is $3.617 in today's dollars. In pounds it was £2.036 at the time, or £2.680 after UK inflation.
On month-end closes, which is what our tables use, the peak was $1.719 in Mar 2021, worth $2.174 today. The latest price is 98.8% below the real high.
Has The Graph beaten inflation since Dec 2020?
Our monthly history for The Graph starts in December 2020. Since then it is down 92.3% in dollars and down 94.0% after US inflation, so it has not kept up with inflation over that stretch. Measured in pounds after UK CPI the figure is down 93.9%. Against the US M2 money supply it is down 93.7%.
How long did The Graph take to recover from past crashes?
After the Mar 2021 peak of $1.719 it fell 99.2% by Jul 2026, and has not closed above that high since. In real terms it has not recovered.
These use month-end closes, so intraday highs and lows were more extreme.
How far is The Graph below its all-time high?
The Graph is 99.1% below its all-time high of $2.84, which it set on 11 February 2021, and its all-time low is $0.013, from August 2026. Getting back to the high from today's price of $0.0263 would take a rise of about 10,712%. These figures come from CoinGecko and refresh every five minutes.
What is The Graph's Bargain Score?
The Bargain Score is 57.4 out of 100 (Watch). It combines the discount from the previous high, market sentiment, momentum and the coin's track record across past cycles. On our zone scale that places The Graph in the Mild discount zone: Price 99.0% below ATH · greed high · funding negative · longs crowded. This describes current conditions; it is not a recommendation.
What do the The Graph cycle scenarios assume?
Low cycle target $2.982 (Previous ATH + 5% (the model’s cycle multiple lands below the previous high).). Base cycle target $3.266 (Previous ATH + 15%: a return to the previous high (the model’s cycle multiple lands below it).). High cycle target $3.692 (Previous ATH + 30% (the model’s cycle multiple lands below the previous high).). Each is the price the coin would reach if a smaller version of its past cycle repeated, not a loss case. They come from a model of past cycles and can be badly wrong.
How fearful is the crypto market right now?
The Crypto Fear & Greed Index reads 62 (Greed). Low readings mean fear, high readings mean greed. The Bargain Score uses it as one input, because past cycle lows tended to arrive during extreme fear.
What zone is The Graph in today?
The Graph is in the Mild discount zone with a Bargain Score of 57. Two or more of the looser buy-side conditions are met (Price 99.0% below ATH, greed high and funding negative), which puts it on the discount side of the scale without the full set of signals behind it. Rather than a recommendation, the label is a reading of where The Graph's price and the wider market sit against the model's rules at this moment, and because the Fear & Greed value and the daily RSI both update at midnight UTC, just after midnight is when it is most likely to change. The 3-dot meter beside it shows where that zone sits on the five-step scale, from one dot for Expensive to five for Deep discount.
How long have The Graph's past recoveries taken?
The Graph has had one earlier fall of 50% or more in our price history: after its $0.4522 peak in March 2024 it fell 97% and has not closed above that level since. Those are the only data points we have for this coin, which is too few to say anything reliable about the next recovery, since market conditions, supply and competition are different each cycle and some coins never regain a previous high.
What are the cycle targets for The Graph?
The model starts from The Graph's full range, its all-time high of $2.84 divided by its all-time low of $0.013, which is roughly 219-fold. It shrinks that multiple with a decay factor, on the assumption that each cycle is smaller than the last, and applies it from the low. For The Graph that reduced repeat would not reach the old high, so the targets are anchored just above it instead, at $2.98, $3.27 and $3.69, which puts the low scenario 11,252% above today's price. They describe what a reduced repeat of the past would look like and say nothing about whether that will happen. Cryptoassets are high risk, and you should be prepared to lose all the money you put into them.
Why does The Graph have a Bargain Score of 57 but sit in the Mild discount zone?
Because the score and the zone measure different things. The score blends price distress, sentiment, positioning, resilience and supply into one number, while the zone checks whether specific conditions line up, such as Fear & Greed crossing a threshold or the RSI reaching oversold or overbought levels. With Fear & Greed at 62 (Greed) and The Graph's RSI at 39, not enough of the buy-side conditions are met to move The Graph further up the scale.
Important information
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Cryptoassets are largely unregulated in the UK, so you are unlikely to have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme if something goes wrong. Educational information only, not financial advice. Read our disclaimer.
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