# The Graph decentralisation report, November 2026

As of November 5, it took the 4 largest indexers to hold more than a third of The Graph's active stake (a Nakamoto coefficient of 4), unchanged from the end of October 2026. The 10 largest indexers held 72.9% of the stake, up 0.1 points from the end of October 2026. Overall the stake was as spread out as 15 equal stakes (an HHI of 646). 62 indexers were active, the same as at the end of October 2026. The month is still in progress: the figures are to November 5 and change daily until the report closes on December 1.

Facts as of 2026-11-05 23:59 UTC, read from the chain by BitBasic.

- Month: November 2026
- Status: In progress
- Active indexers: 62 (on 2026-11-05)
- Nakamoto coefficient (stake): 4 (on 2026-11-05)
- Top 10 stake share: 72.9% (on 2026-11-05)
- HHI (stake): 646 (on 2026-11-05)

## Links

- [Web page](https://bitbasic.com/reports/the-graph/2026-11): the same facts, with charts and history
- [The Graph network](https://bitbasic.com/the-graph)
- [Every network's reports](https://bitbasic.com/reports)
- By: BitBasic (https://bitbasic.com), live staking-network dashboards run by BitNordic