Quant (QNT) Has Risen More Than 70% in the Last Week; What is the Reason?

Last week, the price of Quant (QNT) gained traction when it accumulated 25% in just some days. It increased from the $56range to the $76 range. While it acquired this little smooth run during the week, it continued its bullish run-on Saturday when it disengaged from the seven-month-old falling wedge formation. While it gained a lot of doubts during the weekend, it continued its journey to this week and has 70% from last week.

According to CoinMarketCap, the price of QNT/USD as of 08:57 am on Friday, July 15, 2022, is at $108.09, extending the recent recovery and breakout from its seven months long downtrend. QNT, a native cryptocurrency of the Quant Blockchain, a blockchain platform that facilitates the interoperability of blockchains, has significantly increased over recent weeks.

The QNT price lowered with a downtrend pattern for nearly seven months, preventing buyers from carrying out a significant bullish recovery.

QNT Recovery on June 17

The bull cycle within the price pattern was initiated on June 17 as the QNT Price rebounded from the bottom support trendline. As a result, the bullish rally doubled the market value as it drove to the $90 mark.

Moreover, the buyers managed to breach the downsloping trendline with a long bullish candle and massive pump in volume. This breakout signals a genuine recovery opportunity for QNT holders.

On July 9, the coin price was down by 4%, which retested the breached resistance. According to the predictions, if the coin buyers can sustain above the trendline and $77.5 support, the intensified bullish momentum will ride 35% higher to $104. While on the contrary, a failure to hold above the $77.5 on Saturday would trigger a considerable pullback in the QNT Price.

Genuine Recovery Opportunity of QNT as it attains more than 35% in days.

With QNT price over $100 and looking to gain more today, QNT is looking to its all-time high price of $428.38, which he attained on September 11, 2021. Although it is still down by 74.66% to its ATH, with the recent smooth uptrend, it is predicted to surpass in a matter of time.

Reasons for QNT Price Rise

Real-world use cases and delivered value are important when evaluating a cryptocurrency project’s long-term prospects. This is especially true in down markets when sentiment is low. The possibility of an extended bear market is a reality.

Quant Network (QNT) is a blockchain connectivity network and operating system established in 2018. Its primary purpose and use are to bridge the gap between various blockchains and applications, allowing them to plug in and out of the network’s ledger. Quant Network (QNT) can easily integrate ledgers such as Bitcoin and Ethereum to enable them to cross over and join as one using a unique technology known as the Overledger DLT Gateway.

This type of technology will be advantageous as the gradual acceptance of central bank digital currencies (CBDCs) progresses. Quant Network (QNT) is an ISO 20022 compatible company alongside Ripple (XRP), meaning that in the future, it will provide the technology that enhances cross-border payments between countries.

Quant (QNT) has been gaining momentum since last month and has broken its seven-month-long downtrend despite the market-wide downturn. Major reasons for QNT turnaround:

Coinbase Listing

The rapid turnaround in the price for QNT following the pullback was largely due to its listing on Coinbase Pro, which began accepting deposits on June 23.

Price action for QNT began to pick up on June 24 as trading via limit orders opened up on Coinbase Pro, and its addition to the front-side of Coinbase, which includes the Android and iOS apps, on June 25 saw another boost in trading volume and token price. As a result of the momentum brought by the new listing, the average 24-hour trading volume for QNT soared on June 25.

Protocol upgrades attract attention.

Before the Coinbase listing and market sell-off, QNT price began to gain traction around June 14 following the release of a mid-year technology update called Overledger 2.0. This is the project’s hallmark “DLT gateway that delivers interoperability across different systems, networks, and DLTs,” according to the project’s website.

Excitement for the update had been building since early June, as evidenced by Quant’s recognition from several reputable sources, including cloud infrastructure provider Oracle and the professional services network Deloitte, which included the project in its nominations for the Most Disruptive Fintech Award for 2021.