Subsquid’s Impressive Market Performance
In a surprising turn of events in the cryptocurrency market, the Subsquid price exhibited a counter trend, soaring up to more than 180%. This led it to hit levels that were last held high back in June. As most leading cryptocurrencies grapple with downward pressure, the decentralized data lake for artificial intelligence agents called Subsquid is outperforming the broader market. Thanks to the platform’s zero-knowledge-proof power, the native Subsquid token (SQD) surged to highs of $0.2385—an increase of over 180% in the past 24 hours.
Subsquid’s (SQD) Ascend
Subsquid (SQD) has been witnessing an influx of upward momentum in recent months. This allowed it to take off to a new all-time high of $0.2865. While this was extensively celebrated, it seems that Subsquid is prepped to hit its pinnacle level again this Friday. Along with this price rise, daily trading volumes have seen an increase by more than 900% – pushing the metric to over a whopping $203 million.
SQD Token’s Persuasive Rally
The SQD token has seen substantial action, with its price peaking to the level of $0.17, helped by a surge in AI-related altcoins. However, due to profit-taking practices, the token cost sank to under $0.07 on September 25–a dive that was synchronous with the sharp drop in Bitcoin’s value to approximately $108,000.
The Resurgence of SQD
September 26 onwards, SQD.AI’s decision to lock over 400 million SQD tokens seemingly helped the price to rebound. This was accompanied by notable partnerships, like with Chillwhales—a platform that empowers non-fungible token browsing and aims to enhance the creator economy—it has spotlighted SQD as a top indexer. Since adopting The Graph to index NFT data on LUKSO, Chillwhales decided to adopt SQD, as legacy indexers could not keep up with the sub-second, cross-profile NFT browsing requirements on LUKSO, whereas SQD delivered excellent performance.
Adoption by Major Companies
Furthermore, major corporations like Deutsche Telekom came on board as a node for Subsquid, while Flare was one of the first platforms to amalgamate the data indexer. According to Coinglass data, the open interest in Subsquid has surged to $62.4 million. This displays traders’ confidence in the future of the AI agent space, which is gaining momentum, propelled by the market’s bets on strong performances by AI companies like Nvidia, Oracle, and OpenAI. With the price hike above $0.23, the SQD price is hovering about 22% away from an all-time peak.
Looking Forward
As the market fluctuates, Subsquid and its token SQD continue to gear up for potential success. The team behind Subsquid remains focused on their mission to provide decentralized data storage solutions for artificial intelligence agents. As they continue to foster relationships and secure efficient lockup strategies, the company holds a promising future in this ever-evolving domain of cryptocurrency. With all eyes on Subsquid now, it’s clear that the company’s progress will be carefully watched by industry insiders and investors alike.
Summary
In a nutshell, the Subsquid token SQD’s impressive performance hasque captured the attention of the broad crypto market, with its value soaring over 180% to hit highs of $0.2385. This is in contrast to the majority of leading cryptos, which are grappling with a downward pressure. One of the reasons attributed to this positive trend is the locking of more than 400 million SQD by SQD.AI. Additionally, collaborations with platforms such as Chillwhales further emphasize SQD’s position as a prevailing indexer in this domain.
