The price of Subsquid (SQD) has experienced an extraordinary surge, climbing more than 180% to levels last seen in June, defying the broader trends in the cryptocurrency market.
Overview:
- Subsquid’s price skyrocketed by over 180%, reaching highs of $0.2385.
- The SQD token outperformed the wider cryptocurrency market, with its trading volume spiking by 900% to surpass $203 million.
- SQD.AI revealed that over 400 million SQD tokens are now locked.
While the majority of leading cryptocurrencies have been under downward pressure, the smaller-cap Subsquid—a decentralized data platform for AI agents—has surged ahead. Leveraging zero-knowledge proofs, Subsquid’s native token surged to $0.2385, gaining more than 180% within a 24-hour period.
Subsquid, which has gained substantial momentum in recent months, previously reached an all-time high of $0.2865. As of Friday, it looked poised to target this peak once more.
With the price climbing, daily trading volume saw a massive increase of over 900%, reaching more than $203 million.
SQD Price Targets Record High
The SQD token recently hit $0.17, driven by a rally in AI-related altcoins. However, a round of profit-taking pushed it below $0.07 on September 25, in sync with Bitcoin’s sharp dip to nearly $108,000.
On September 26, SQD’s price rebounded, likely fueled by the locking of over 400 million SQD tokens by SQD.AI.
Strategic partnerships, like the one with Chillwhales—a platform focused on NFT browsing and supporting the creator economy—have positioned SQD as a leading data indexer. Chillwhales, which initially utilized The Graph for indexing NFT data on LUKSO, has now adopted SQD.
Subsquid also welcomed Deutsche Telekom as a node, and Flare was one of the first platforms to integrate the data indexer.
According to Coinglass data, Subsquid’s open interest has now hit $62.4 million, signaling robust confidence from traders. This growth aligns with the increasing momentum in the AI sector, driven by optimism surrounding companies like Nvidia, Oracle, and OpenAI.
With SQD’s price now hovering about 22% below its all-time high, the token remains on track to reach new peaks as the AI agent market continues to attract attention.
