SQD (Subsquid) fell 15.58% in 24 hours

Gate News Bot news, on September 28, according to CoinMarketCap data, SQD (Subsquid) is currently priced at 0.13 USD, down 15.58% in the last 24 hours, with a high of 0.27 USD and a low of 0.07 USD. The current market capitalization is approximately 9.95 million USD, a decrease of about 18.36 million USD compared to yesterday.

Subsquid is a data lake network designed for AI agents. It is the first emerging open database network that allows anyone, AI agents, or enterprises to access PB-level data using the $SQD token without permission. SQD aims to incentivize enthusiasts, developers, and institutions to participate through an innovative reward system. The network includes a deflationary mechanism, with part of the protocol revenue used to reduce token supply, and is designed to capture protocol revenue and network adoption, ensuring that token holders benefit from the platform's growth and usage.

Recent important news about SQD:

1️⃣ Market Heat Ranking Rising SQD has jumped to third place in the cryptocurrency market heat ranking, with a 24-hour increase of 42.26%. This significant rise in ranking reflects the strong interest of investors in the Subsquid project, which may be a key factor driving the recent price fluctuations.

2️⃣ Short-term price volatility SQD has experienced significant price volatility in the past few days. On September 26, SQD saw a single-day increase of 39.80%, reaching a high of $0.11. However, this upward trend did not last, and a significant correction followed. Such large price fluctuations indicate a divergence in market valuation of SQD, which may lead to continued high volatility in the short term.

3️⃣ market capitalization significantly fell The market capitalization of SQD has significantly fallen in a short period, from approximately $76.5 million on September 26 to $9.95 million, a decrease of over 87%. This drastic shrinkage in market capitalization reflects a sharp adjustment in the market's valuation of the SQD project, which may be related to changes in investor sentiment or a reassessment of the project's fundamentals.

From a technical perspective, the SQD price has significantly fallen after encountering strong resistance at $0.27, and is currently seeking support around $0.13. In the short term, investors should closely watch whether the recent low of $0.07 can hold, as this may become a key position for determining the direction of the market.

This message does not constitute investment advice, and investors should be aware of market volatility risks.