SQD (SQD): What It Is, Uses and Risks

SQD is the token associated with Subsquid Network, a decentralized data lake and query engine. According to the project description, the network aims to give developers fast, permissionless access to blockchain data for indexing, dApp development and analytics. It is positioned as an alternative to centralized infrastructure providers, including large RPC and API services. The project describes its network as secured by zero-knowledge proofs and built on a modular architecture.

The token is listed under AI tokens on this site, although the data category is closer to blockchain data infrastructure. Its market data shows a relatively small project by market capitalization. Readers should treat any description of the project as a summary of its own claims rather than an independent assessment.

Based on public reporting and project materials provided, SQD is used in several ways within the Subsquid ecosystem. Developers use it to pay for data queries, node operators stake it to run infrastructure, and holders can take part in network governance. Some materials also describe a model where token holders lock SQD behind Portals that serve paying customers and receive rewards funded by data demand, paid in a USDT-based form.

These uses come from project-related and third-party summaries, and the mechanics may change over time. Anyone considering the token should read the current official documentation rather than relying on a summary.

The supply data provided lists a total and maximum supply of about 1.337 billion SQD, with about 1.31 billion in circulation as of 2026-11-05. That means most of the maximum supply is already in circulation, according to this data. At the time of writing, the price was about $0.019 and the market capitalization about $25.1 million, with a fully diluted valuation around $25.6 million. The 24-hour trading volume was roughly $916,000.

The token has fallen sharply from its all-time high of about $0.285 reached on 2025-06-11. Its all-time low of about $0.017 was recorded on 2026-10-18. Over the past year the price declined by about 73 percent. These figures change constantly and are shown only as a snapshot. They are not a forecast of future performance.

SQD is issued on Arbitrum, BNB Chain and Base, according to public data. It is not a native token of any blockchain in that dataset. Because it exists on several networks, a holder should confirm which version they hold and use a wallet that supports that specific network. Bridging between chains can add cost and risk, and sending tokens to the wrong network can result in loss.

SQD is a small, volatile token with a thin market at times, as reflected in its trading volume and large drop from its peak. Its value depends on the success of the network and on general market sentiment, and there is no guarantee that demand for data services will grow. Smart contract bugs, bridge problems, token unlocks and concentrated holdings are all possible risks, and this page has not audited any contract.

For storage, use a wallet where you control the private keys, and verify contract addresses through official project channels before interacting with them. Never share a seed phrase. Staking or locking tokens may involve lock-up periods, so understand the terms before committing funds. This is general information, not financial advice.