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SQD

SQD#533 by market cap

Qualifies for a record and its pages are captured daily, but the record has not been written yet.

#2of 6 data indexing coinsthe typical one is worth $19.83M#524of all coins by sizeworth $40.18M today3%of the supply still to come37.54M coins can still reach the market22 monthson the markettrading since 16 November 2024

SQD is for indexing and analysing chain data. We have not written its record yet, so its promises are not checked. It trades at $0.0309, #524 of all coins by size, 89% below its highest ever price.

This week Nothing changed on its record.

A real job, real backing. No dated promises on its pages. Nothing dated ahead. #2 of 6 data indexing coins. Nothing to be careful of on the record.

Is it real?

4 of 4tests passeda real job, real backing, something ahead, room to grow
nonenamed backersno investor or index on file
22 monthson the marketsince 16 November 2024
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Passes all four

  • ✓A real-world jobReal-world purpose: indexing and analysing chain data
  • ✓Real backingBacking: trades on Coinbase, Bybit, KuCoin
  • ✓Something aheadAhead: news this month about partnership, banks
  • ✓Room to growRoom: worth $40.18M, 5 times smaller than The Graph, the biggest coin within reach doing the same thing (Data indexing)

Listed on 3 big exchanges

  • Origin16 November 2024about about 22 monthssqd.dev, GitHub
  • DevelopersNot namedNeither Wikidata nor its listing names the foundersCode activity not checked
  • BackingNo named investorListed on Coinbase, Bybit, KuCoin
  • Standing on the recordNo recordNo dated promise to judge yet6 headlines last monthNo corrections needed so far
Why it is worth a look
  • Real-world purpose: indexing and analysing chain data
  • Backing: trades on Coinbase, Bybit, KuCoin
  • Ahead: news this month about partnership, banks
  • Room: worth $40.18M, 5 times smaller than The Graph, the biggest coin within reach doing the same thing (Data indexing)
The gap, and what to do

It is already worth more than the typical coin in Data indexing ($19.83M). To match the leader, The Graph ($195.61M), its price would need to rise 387%, to about $0.1505.

Still to check

  • No dated promise on record yet, so delivery cannot be judged
  • No named investor among its tags
  • Only 6 headlines named it last month
  • Years younger than the group's leader

What to do Nothing dated is ahead and nothing has been delivered on record. There is no event to wait for yet, which is itself the answer.

A gap is not a forecast. Most small coins never close it. The site never picks.

Four tests, printed. Passing all four means a real job, real backing, something ahead, and a price far below the leader of its group. A filter on facts, never a verdict.

Every line has a source: the coin's own listing, CoinGecko's tags, the record, or the news feed. Reputation here is a count, never an opinion.

Does it deliver?

No dated promise has been found on the pages this project publishes. Its pages are saved every night, so anything it commits to from now on appears here.

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Every line is quoted from the project's own pages, with the copy we stored and, where one exists, the article that reported it

What is next, and when?

Nothing dated has been found on its pages, so there is no date to wait for yet.

How big is it next to its rivals?

#2of 6 data indexing coinsthe typical one is worth $19.83M
$40.18Mworth todayprice × coins out
$19.83Mthe typical rival is worthData indexing
$195.61Mthe leader is worthThe Graph
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Only coins within a hundred times its worth; a coin a thousand times bigger is another world

Indexing and analysing chain data

6 coins tagged Data indexing, worth $297M together. #2 of 6 by worth.

Data indexing: this coin against its direct competitors

  • CoinWorth, as a barWorthAgainst this coinToday, and the gapSupplyPromises
  • SQD$40.18Mthis coin−3.3%97% outno record
  • The Graph$195.61M4.9× bigger, +$155.43M−3.1%, gap +0.2no max2 of 25 delivered
  • Space and Time$38.04M1.1× smaller, −$2.14M−2.1%, gap +1.293% outno record
  • Pocket Network$19.83M2.0× smaller, −$20.35M−7.1%, gap −3.8no maxno record
  • KYVE Network$2.04M19.7× smaller, −$38.14M+7.0%, gap +10.2no maxno record
  • Covalent X Token$1.29M31.2× smaller, −$38.89M−9.3%, gap −6.097% outno record
Same job, different how

Data indexing: this coin next to The Graph, the biggest rival within reach. People go to the bigger coin unless the smaller one does something it does not.

SQD says
Subsquid Network is an innovative decentralized data lake and query engine designed to offer developers performant and permissionless access to data.
The Graph says
The Graph provides infrastructure that collects, processes, and delivers blockchain data across more than 60 networks.

Two claims, side by side, in their own words. Whether the difference is real is for the record to show over time, and for you to judge.

What it is

Subsquid Network is an innovative decentralized data lake and query engine designed to offer developers performant and permissionless access to data, aiming to build a neutral and open internet rooted in Web3 principles.

Problem it says it solves: indexing and analysing chain data. 6 coins are working on it and together they are worth $296,997,648. This coin is 14% of that.

Where it trades: Coinbase, Bybit, KuCoin, HTX, PancakeSwap V3

Each bar is a coin's worth today (price × coins out), longest first. The lit bar is this coin; grey bars are the others doing the same job.

Bars are market cap. Order is size, nothing else. Differences are measured from the coin you are looking at.

What should make me careful?

Nothing printed today

None of the six tests fails. A missed promise counts only on a record a person has checked.

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Why is it this small?

Data indexing: this coin next to the group's largest, The Graph.

SQDThe Graph
Years trading2 years6 years
Major exchanges311
Named backers02
Headlines, last month67
Promises deliveredno record2 of 25

What it says is different: Subsquid Network is an innovative decentralized data lake and query engine designed to offer developers performant and permissionless access to data, aiming to build a neutral and open internet rooted in Web3 principles.

It is 20.5% the size of The Graph. On the facts above it is behind on years trading, major exchanges, named backers, promises delivered. For that gap to close, the record would need deliveries showing up in its record, news that names it. Nothing here says it will; the site does not predict.

The tests: nothing to hold it for, more missed than delivered, priced ahead of its record, half the supply still to come, rivals ship while it does not, a big release of coins soon.

The homework: the coin itself, the news, the record

The coin itself

$0.0309price of one−3.3% today
89%below its highest ever$0 on 11 June 2025
97%of the supply is out1.3B coins
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The last 7 days

7 days ago: $0.0348now: $0.0309 (−10.4%)

Where today sits against its highest ever price

$0.0309

Highest ever: $0.2848 on 11 June 2025. Today is 11% of that.

97%

of all SQD that will ever exist is already out in public hands: 1.3B coins.

3% (37.54M coins) is already created but not in public hands, held by the project or locked in escrow. That is a small share. Those coins can be sold later, which can push the price down.

out held back. Each dot is 1%.

Its pages do not say what holding it gets you

That is worth knowing before buying. A coin nobody needs is priced on hope.

  • Nothing the project's own pages spell out.
$0.0309price of one
×
1.3Bcoins out
=
$40.18Mworth today, #524 of all coins

That is all a market cap is: today's price times the coins in public hands. It moves every time the price does. It says what buyers are paying, not what the coin is worth.

Basics
  • 97%of the maximum supply is in circulation: 1.3B of 1.34B.
  • 37.54Mcoins still to be released, 3% of the maximum. Releases can add selling pressure.
  • 11%of its all-time high of $0.2848 on 11 June 2025. That is −89.1% from the top.
  • #524by market cap, $40,181,193.
  • Not checkedwho holds the most coins, and how much has been burned. Those need on-chain data this site does not read yet.

Supply and value figures from CoinGecko, refreshed hourly. Not part of the record.

What the news says

6headlines, last monththat name this coin
0about governmentregulation, courts, central banks
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Headlines per day, last 30 days

6 headlines named this coin in the last month.

What they were about

  • Partnership3
  • Price1
  • Banks1
In the news
What people are talking about, last month:

Headlines are the publishers' own. News is never placed next to price.

The record itself

Qualifies for a record and its pages are captured daily, but the record has not been written yet.

Pages saveddailycaptured every night
Promisesnone yetno record drafted
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Six facts, the project's own replies, its peers, contract facts, references and every stored copy