Deep Dive
1. Liquidation Heatmap Shows Market Stress (1 February 2026)
Overview: On February 5, 2026, derivatives data showed $16,150 in SQD futures liquidations, with $15,590 (over 96%) from long positions. Most occurred on Binance Perpetuals. Such concentrated long liquidations often indicate a flush-out of over-leveraged bullish traders during a price drop, which can exacerbate downward moves but also set up potential contrarian rebounds once selling pressure eases.
What this means: This is a neutral-to-bearish short-term signal for SQD because it reflects extreme sentiment and forced selling, which can amplify volatility. However, such liquidation clusters can also mark local capitulation points, potentially leading to a stabilization if leverage resets.
(Gate)
2. Revenue Pools Launch to Share Enterprise Fees (31 December 2025)
Overview: SQD Network launched Revenue Pools, allowing token holders to lock their SQD to support network capacity. In return, they may earn a portion of enterprise subscription fees from clients like Deutsche Telekom in stablecoins. This model aims to fund the network via customer payments instead of token inflation.
What this means: This is bullish for SQD's long-term utility because it creates a direct link between token demand, real-world usage, and holder rewards. By reducing circulating supply through locking and generating revenue-based yields, it could support a more sustainable token economy.
(Decrypt)
3. Bitso Adds SQD to Diversify Portfolio Offerings (11 December 2025)
Overview: Major Latin American exchange Bitso added SQD to its "Limited Operations" category, enabling buy/sell and transfers for its users. The listing was part of a batch of eight new tokens focused on DeFi, AI, and payments, aimed at providing diversified, innovative assets.
What this means: This is bullish for SQD's adoption and liquidity, as it expands the token's reach to a new regional user base and enhances its profile as a utility-driven infrastructure asset within a curated exchange selection.
(Bitso Blog)
Conclusion
Subsquid's recent news paints a picture of a project maturing its economic model through Revenue Pools while navigating typical crypto market volatility, as seen in February's liquidations. The key trajectory is a pivot towards sustainable value capture from enterprise demand. Will the uptake of Revenue Pools be sufficient to offset the token's exposure to broader market leverage and sentiment swings?