The cryptocurrency market is always willing to take investors’ money, but not without consequences. Some of the altcoins, such as Quant (QNT), can be traded at a premium right after the initial coin offering (ICO), which is the process chosen to release the initial supply of the cryptocurrency. The question is, is this trade-off worth the price?
QNT, which is currently the 52nd largest cryptocurrency, surged 125 percent this week and has gained more than 1,100 percent in the past one year. QNT is the top gainer among all cryptocurrencies during the last 24 hours, with a market cap of $8.6 billion, and the top gainer among all cryptocurrencies since the start of the latest bull run in January.
While the overall cryptocurrency market is bearish, one digital coin was able to rally by more than 125 percent in the past week. This digital coin is Quant (QNT), which can be purchased using both Bitcoin and Ethereum. This digital coin is based on the Ethereum blockchain, which supports smart contracts and dapps.Summary of the situation
- Despite the fact that the entire crypto-currency market is down, one coin was able to experience a strong rise.
- Quant’s (QNT) stock price has risen more than 125% this week.
- The reason for this huge price increase was the posting on Coinbase and the support of the market.
For a cryptocurrency to develop and be accepted by the market as a whole, it must have a practical implementation and application in the real world. If these are missing, the blockchain project fails. That was when the ad for quantum coins appeared on Coinbase. QNT stock is up over 125% this week and is currently trading at $79.
QNT current price
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In the current situation, it is likely that many cryptocurrency projects will not survive the fall. This is because trading and investment sentiment is tested during these bear markets. Along with bitcoin, altcoins are also suffering and causing turbulence in the market, stopping the bulls and pushing the bears.
Why could Quant rise sharply even in a falling market?
Quant is a centralized, interoperability-focused project whose primary goal is to help organizations integrate DLT or distributed ledger technology. That’s why Quant has received so much support from companies and corporations, which explains QNT’s dominance in the market. The drop was recorded at QNT on the 22nd. The month of June was marked by a liquidation of the entire market.
The price of the coin on the 22nd was at $44 in June. It was cut in half on the 25th. June was trading at $99.11. This growth of over 135% shows that this coin has great potential and could become one of the major blockchain projects in the future. After Quant’s posting on Coinbase, the trading volume of this coin has seen a sharp increase.
It all started on June 14, when a major update was incorporated into the blockchain project. This update is called Overledger 2.0. Quant’s website states that it is a distributed ledger technology designed to ensure interoperability between companies and their associated systems.
A DLT gateway that provides interoperability between different systems, networks and DLTs.
Quant has managed to secure the support of well-known companies, including Oracle and Deloitte. Indicators saw a spike in the coin’s price, and Coinbase saw an additional spike of about 50 percent after the coin was activated.
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