Quant (QNT), a cryptocurrency facilitating interoperability, has witnessed a 12% price surge, attaining its peak since August 24. This occurs during a downturn in significant assets such as Bitcoin and Ethereum, which have experienced substantial declines.
On-chain data indicates a positive divergence between QNT price and Daily Active Addresses, implying that increased accumulation frequently results in price recoveries. Analysts observe that prominent addresses, or whales, have commenced the accumulation of Quant at reduced levels, suggesting potential future profits.
The open interest in QNT futures has increased significantly, attaining a peak of $13.91 million, the most since June 7, signifying heightened investor interest. The QNT price has had a corrective phase for several months; however, this trend may be reversing as the price begins to recuperate.
Currently, Quant is valued at $70.9, with a market capitalization of $850 million. The principal resistance level is approximately $71.58, and a decline beneath this threshold may indicate a reversal or consolidation phase.
