Subsquid price bucked the trend across the cryptocurrency market after it skyrocketed by more than 180% to hit levels last seen in June.
With most leading cryptocurrencies struggling with downside pressure, it’s the small-cap Subsquid, a decentralized data lake for artificial intelligence agents, that outpaced the broader market. The zero-knowledge-proof-powered platform saw its native token jump to highs of $0.2385, up more than 180% in the past 24 hours as of the time of writing.
Subsquid (SQD), which has benefited from upside momentum in the past few months to rally to an all-time high of $0.2865, looked set to target this peak on Friday.
As price rose, daily trading volume jumped by more than 900%, a notable spike that pushed the metric to over $203 million.
The SQD token recently pumped to highs of $0.17, aided by a rally in AI-related altcoins. However, profit-taking pushed it to under $0.07 on Sept. 25—declines that aligned with Bitcoin’s sharp drop to near $108,000.
On Sept. 26, likely aided by SQD.AI’s locking of over 400 million SQD tokens, the price shot up.
Partnerships, such as the one with Chillwhales, a platform that powers non-fungible token browsing and seeks to bolster the creator economy, have outlined SQD as a top indexer. Chillwhales, which leveraged The Graph to index NFT data on LUKSO, has since adopted SQD.
Deutsche Telekom joined Subsquid as a node, while Flare was among the first platforms to integrate the data indexer.
Per data on Coinglass, the open interest in Subsquid has increased to $62.4 million.
This signals trader confidence as the AI agent space gains fresh impetus, helped by markets’ bets on strong showings by AI companies like Nvidia, Oracle, and OpenAI. The surge above $0.23 means SQD price hovered about 22% off the all-time peak.

Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more

