Messari • May 06, 25
State of The Graph Q1 2025
With 6.14 billion queries processed and $210,200 in combined query‑fee and Substreams revenue, The Graph sustained developer engagement in Q1 2025. Active Subgraphs rose to 12,402 (+9.8% QoQ) while indexing rewards reached 77.9 million GRT. Key launches such as Substreams, the Token API beta, and...
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