Quant’s native token, QNT, has made a notable surge in the cryptocurrency market, soaring by 10% in just 24 hours, making it the day’s top-performing asset. According to data from crypto.news, QNT is currently trading at $77.02, with the token reaching an intraday high of $77.77. This marks a staggering 37.5% rise from its weekly low of $56.54, signaling a strong upward trend that aligns with the general positive momentum in the altcoin market.
This sudden spike in QNT’s value appears to be driven by the recent introduction of staking capabilities on the Overledger Network, as confirmed by Quant’s CEO, Gilbert Verdian. With this new feature, the updated terms now provide opportunities for staking, encouraging token holders to maintain long-term positions. This has been seen as a major catalyst for increased utility of the token, reducing the circulating supply while promoting long-term holding.
Staking Boost and Investor Excitement
The new staking features on Overledger are being viewed as a significant upgrade that may reshape the token’s role within the network. By providing the opportunity for users to earn staking rewards, Quant incentivizes holders to commit to the platform for extended periods. This initiative not only cuts down on the available supply of QNT but also strengthens its use case in the network’s broader ecosystem.
Investors and analysts alike have responded positively to these changes. The reduced supply, coupled with the staking mechanism, has created a unique environment for potential upward price movement. As a result, QNT holders now have additional motivation to hold their tokens, amplifying demand and reinforcing market confidence in the asset.
Quant’s Role in Blockchain Interoperability
One of the key drivers behind QNT’s steady growth is its role in blockchain interoperability. Quant is well-known for enabling smooth interactions across multiple blockchain networks, making it a critical tool for developers who wish to build decentralized multi-chain applications. This cross-chain capability is essential for advancing the digital economy, as it paves the way for a future where different blockchain platforms can communicate seamlessly.
Quant’s Overledger Network allows developers to create applications that work across various blockchain environments, eliminating the silos that often limit growth within the industry. This feature positions Quant as a frontrunner in the race toward building a truly interconnected digital economy, an aspect that has drawn significant interest from both developers and institutional investors.
Whale Activity Points to Increased Market Confidence
Another significant factor contributing to QNT’s price surge is the increased activity from crypto whales—large investors who hold significant amounts of tokens. Data from FishTheWhales highlights a substantial rise in whale transactions, indicating a growing belief in the token’s future value. This surge in whale activity suggests that large investors are confident in QNT’s long-term potential, especially following its recent price dips.
Moreover, according to metrics from Into The Block, there has been a sharp increase in the netflow of large holders. Specifically, the netflow went from a negative balance of -3.1k QNT to a positive flow of 7.42k QNT between early and mid-September. This influx of large holders accumulating the token is a bullish signal, hinting at further gains on the horizon.
Long-Term Holding Trends and Open Interest Surge
One of the most encouraging signs for QNT’s future is the growing number of addresses that have held the token for more than a year. According to recent reports, these long-term holders have increased by 37.2%, with over 102.9k addresses now falling into this category. This suggests that a growing number of investors are seeing QNT as a long-term asset with significant upside potential.
Additionally, there has been a notable rise in open interest within the QNT market. Open interest has surged by 87.4% in early September, climbing from $6.47 million to $12.13 million, according to Coinglass data. This growth in open interest reflects heightened activity in the futures market, further validating the bullish outlook for QNT.
Technical Analysis: QNT Breaks Key Resistance Levels
From a technical analysis standpoint, QNT has shown considerable strength by breaking out of a falling wedge pattern, a classic bullish indicator that suggests a reversal in previous downtrends. Crypto analyst Dami-Defi, who analyzed QNT’s price movements on X, pointed out that the token successfully crossed its $69 resistance level, a key milestone for further upward movement.
If this momentum continues, QNT is poised to challenge higher resistance points. Dami-Defi believes that QNT could test resistance at $82 in the near term. If it breaks this level, the next target could be $145.5, representing a massive jump from its current price levels. The combination of strong technical signals and growing interest from large investors makes QNT one of the most exciting tokens to watch in the altcoin market.
The Future of QNT: Analysts Eye Long-Term Gains
Looking forward, analysts are optimistic about QNT’s long-term prospects. The integration of staking, coupled with Quant’s unique position as a leader in blockchain interoperability, provides a strong foundation for future growth. As more developers adopt Quant’s Overledger Network, the demand for QNT is expected to rise, further driving up its value.
In the long term, QNT could become an indispensable asset in the crypto ecosystem, particularly as the need for cross-chain solutions grows. With its robust infrastructure and strategic updates, Quant is well-positioned to capture a significant share of the expanding decentralized finance landscape.
Conclusion: QNT’s Bright Future in the Crypto Market
In conclusion, QNT’s recent 10% surge is a testament to the growing confidence in the Quant Network and its native token. With key developments like the introduction of staking, increased activity from whales, and long-term holding trends, QNT is positioned for further gains. As Quant continues to drive blockchain interoperability and developers adopt its multi-chain solutions, the token’s value is likely to increase.
Analysts predict that QNT could soon break through key resistance levels, with potential price targets as high as $145.5. Investors should keep a close eye on this asset as it continues to lead the charge in the altcoin market, offering a unique blend of innovation, security, and long-term growth potential.
