Historical replay · GRT/USD
The Graph's Explosive Listing Pump (December 2020)
GRT, The Graph's governance token, launched trading in mid-December 2020 and rallied over 25x in three days on listing-driven demand, before giving back more than half of that spike just as fast.
The Graph is an indexing protocol that makes blockchain data efficiently queryable for applications — often described as "Google for blockchains." Its governance token, GRT, began trading on major exchanges in mid-December 2020, arriving with substantial pre-launch attention after a large funding round and a broad initial exchange listing push.
GRT opened trading near $0.03 on December 17 and rallied to an intraday high of $0.783 by December 20 — a gain of roughly 25x in just three days — a move driven almost entirely by new-listing demand across multiple exchanges simultaneously rather than any single piece of news arriving during that specific window.
The token gave back a large share of that spike almost as quickly as it arrived, falling to a close near $0.358 by December 25 — still well above its opening price, but a decline of more than 50% from the December 20 high within days. This round-trip shape (extreme spike, partial but swift retracement) is a recurring pattern in brand-new listings, where initial demand vastly outstrips the token's more settled trading range once the first wave of buyers has already bought in.
A move this size within days says more about listing-day supply and demand imbalances than about the underlying project's fundamentals changing that fast — a distinction worth keeping in mind on Trade2Spike's Historical Market Replay before treating any brand-new listing's first-week chart as representative of how the asset normally trades.