SQD (Subsquid) up 20.45% in the past 24 hours

Gate News Bot Message, December 29th, according to CoinMarketCap data, as of press time, SQD (Subsquid) is currently priced at $0.08, up 20.45% in the past 24 hours, with a high of $0.09 and a low of $0.04. The 24-hour trading volume reached $27.6 million. The current market capitalization is approximately $81.4 million, an increase of $13.8 million from yesterday.

Recent Important News about SQD:

1️⃣ Rezolve AI Strategic Acquisition Strengthens Data Infrastructure Value After Subsquid was acquired by Rezolve AI, it achieved a deep integration of blockchain data infrastructure and AI applications. This integration combines decentralized data lakes, query engines, and the Smartpay digital asset payment track, providing a complete data and payment solution for the AI economy. This strategic acquisition enhances SQD’s core competitiveness in AI data infrastructure and solidifies market confidence in the project’s long-term prospects. According to the heat ranking on December 25th, SQD’s acquisition heat rose to third place, reflecting positive market attention towards this integration event.

2️⃣ Robust Growth of Network Infrastructure Supports Application Demand The SQD network currently has 2,126 active nodes, with a service scale of 1PB of data over the past 90 days, and a request volume of up to 4.65 million requests in 24 hours. These indicators reflect the stable operation of the network infrastructure and the continuous growth of market demand. The large node scale and high-frequency data requests demonstrate the broad validation of the platform’s application value in the Web3 and AI ecosystems, with market demand for decentralized data services continuing to rise.

3️⃣ Deflation Mechanism and High Staking Rate Provide Price Support The SQD token employs a deflationary design and income capture mechanisms to encourage long-term holding. Currently, 252.1 million SQD are staked in the network, with 87.9412 million SQD delegated, totaling over 340 million SQD staked and delegated, accounting for a significant proportion of circulating supply. The high proportion of locked holdings reflects investors’ confidence in the long-term value of the ecosystem, while the deflationary mechanism continuously suppresses circulating supply, serving as an important fundamental factor supporting recent price increases.

This message is not investment advice; please be aware of market volatility risks.