The Quant QNT token rallied 125% in one week, surpassing the bearish market after the listing on Coinbase and the endorsement from other tech companies as we are reading more in our latest altcoin news today.
The real-world use cases and delivered value are more important when evaluating a long-term prospect of the crypto project and this is true in the down markets when the sentiment is low and the possibility of the extended bear market is a reality. One project that was gaining momentum in the past month despite the market-wide crash was the Quant QNT token which is an interoperability-focused project designed to help enterprises integrate and operate in the DLT space.
Inbound transfers for BOND, LPT & QNT are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Wed 6/24, if liquidity conditions are met. https://t.co/ozmX17nhsz
— Coinbase Pro (@CoinbasePro) June 23, 2021
The data shows that after a short dip to $44 on June 22, the entire market faced a strong sell-off but the QNTp price surged more than 125% and established a new record high of $99. The fast turnaround in the price for the token after the pullback was due to the large part of its listing on Coinbase Pro which started accepting deposits a few days ago. The price action for QNT started to pick up on June 24 as the trading via limit orders opened up on Coinbase Pro and its addition to the exchange includes iOS apps and Android ones as well which led to a new boost in trading volume and token price. As a result of the momentum that was brought by the new listing, the new trading volume per day for QNT soared.
Before the Coinbase listing and the market sell-off, the price of the token started gaining traction after the new release of the mid-year technology update dubbed Overledger 2.0. This is the project’s hallmark “DLT gateway that delivers interoperability on different systems, DLTs, and networks” as per the project’s website. The Excitement for the update was building nicely since early June as evidenced by the recognition Quant received from other sources like the cloud infrastructure provider Oracle and Deloitte which included the project in the nominations for the Most Disruptive Fintech Award in 2021.
As reported earlier, After the Saturday market crash where BTC dipped to over $30,000, the crypto bounced off and recovered more than $3000 in value while most altcoins reacted well and ETH surged to $1900 with the market cap reclaiming $100 billion in one day. As it happened in the past few weekends, Saturday also didn’t start off well for the main cryptocurrency.
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