The cryptocurrency market does not seem to show its will to climb the downward slope that the Bear Market started. While nothing seems to be fixed, a serious project stands out and sees its mark acquired in value: Quant crypto. While Bitcoin is still struggling at $20,000, Quant (QNT) has done very well in September. How is this possible and, above all, is it sustainable?
Quant crypto, interoperability between blockchains
Quant (QNT) is a precursor project officially launched in 2018. Its goal is to remove the communication limitations associated with lack of interoperability between different blockchains.
In fact, today, most Dapps are restricted to a single mainnet. For companies, this limitation represents a real brake in terms of sales and economy.
Therefore, whether blockchains are public or private, Quant and its Overledger Network offer support to developers in creating decentralized multi-chain application (Maps).
Unlike Dapps, very popular in DeFi, Mapps have the advantage of knows no bounds. In this sense, they are compatible with all networks, despite the differences that may exist between them.
Quant crypto refers to its network supporting the future digital economy mixing crypto-currencies and MNBC (Central Bank Digital Currencies) and all possible applications related to blockchain technologies.
Technically, Quant crypto acts as a gateway that allows trust in a multi-layered architecture. This mechanism allows all Mapps to interact at different levels without restriction.
With this in mind, Quant crypto has definite uses in the blockchain, but also in the real world.
QNT is the native token of the Quant ecosystem whose maximum supply is set at 14,612,493 tokens. Thanks for a capitalization of $1.8 billionrank the project 32nd of the largest marketcaps.
QNT did not have the success it had hoped for in its infancy. In fact, faced with the failure of the ICO, the team conducted a burning of unsold tokens. Success came later as more and more companies took advantage Innovations in Quant Networks.
Quant token belongs to the category of utility tokensit is essential for companies and developers to use Quant’s services.
QNT crypto exploded by +50% in 1 month
While the broader market fell almost 8%, Quant and its QNT token gained 51% for the month of September fell from $96 to $145. Even better, the token has returned to March levels! Few cryptos can boast this performance.
Now, QNT crypto has recovered more than 250% of its value since the mid-June low. For comparison, Ethereum gained only 25% during the same period.
How to explain this evolution?
As a first step, the desire of Central Banks to develop their own digital currency (MNBC).
The essence of Quant is to support the entire financial system of the future. The willingness of institutions to transfer part of the economy from TradFi to DeFi and the use of blockchain technologies so that is a good opportunity for Quant network.
This is clearly an outstretched hand from Quant to MNBCs a positive sign seen by investors long term.
In this observation, we can see an accumulation from whales available on the Quant crypto network. According to analyst The Santiment, addresses holding between 100 and 1,000 QNT have increased their positions by 15.4% since April. Only they hold more than 11% of the circulating supply.
As a result, volumes have also exploded upwards in recent months.
Quant Network, an opportunity for 2023?
As the Sibos 2022 trade fair takes place in early October, Quant is an active participant. The blockchain organization hopes there Build relationships with central bank representatives.
Last year, Quant crypto joined the Digital Pound Foundation. This independent organization works in collaboration with the British central bank to create and develop a Pound sterling digital. Some global institutions have already expressed the desire to collaborate with Quant in the digital development of their currency.
Off-chain, things are looking good for the project. Especially since the transition to digital currency has been on everyone’s mind for a long time.
Graphically, everything is not so simple even if positive signs appear.
QNT crypto is currently being tested a resistance level where he flirted twice in February and March 2022. So this is an important moment for the token.
The last strong push started at the beginning of September and at the beginning of a 50% revaluation of the token seems to reach a point of overbought.
At this point, investors can easily get their profits and participate bearish pressure no support for token price. However, the Sibos conference may, for its part, provide a positive boost after a period of consolidation.
In the long term, the project is ambitious and in the face of global economic challenges, it can play important role. Quant crypto and its token will do well and continue their rise in 2023.