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SQD: The Token that Coinbase Just Listed and Why It Matters

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Subsquid has just come onto the institutional radar. Its native token SQD was listed on Coinbase and now MicroStrategy ( the company behind MSTR) is hot on its heels. What’s happening?

The basics: SQD is the token of Subsquid, a decentralized platform that indexes data on over 150 blockchains—Arbitrum, Base, BNB Chain, and others. Developers use it to perform quick on-chain data queries without relying on centralized servers.

Why did Coinbase list it? Now there is more liquidity, visibility, and institutional access. That generally pushes the price because more people can buy/sell easily.

Why is MicroStrategy looking? MicroStrategy is known for accumulating Bitcoin and investing in crypto infrastructure. If they are following SQD, it means they see decentralized data indexing as something serious at the enterprise level.

Tokenomics: ~600-706M in circulation, maximum of 1.337B. There is a vesting period of 7 years, so be cautious of future unlocks that could pressure the price.

The bullish case: Web3 needs real-time data. Subsquid is expanding to Cosmos and Solana. If more dApps and protocols adopt SQD to pay for queries and staking, the network grows. Network effects = more token value.

The risk: The Graph and QuickNode are established competitors. If the devs do not switch to SQD, the token stagnates.

TL;DR: Real utility token, not hype. Coinbase listing + institutional interest = bullish signal. But the price depends on whether the devs actually use it.

SQD-4.71%
BTC-0.29%
GRT-2.53%
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