Quant’s Price Surge: A Look at Recent Gains and Future Prospects
Quant’s price has surged in recent months, thanks to its strategic partnerships with the European Central Bank and Oracle. The cryptocurrency, trading at $105 on July 4, has seen a 75% increase from its year’s low. This boost has pushed its market cap over $1.2 billion, placing it as the 60th largest coin.
Quant Network’s growth was fueled by Oracle’s launch of the Oracle Blockchain Platform Digital Assets Edition. This platform uses Quant’s technology to simplify digital asset applications. It integrates smart contracts and distributed ledger technology, making tokenization easier and faster. Oracle’s adoption of Quant’s Overledger solution has been a key driver.
Quant Network’s collaboration with the European Central Bank for the digital euro project has also been a significant factor. The Overledger solution, which allows different blockchain networks to work together, coudl be adopted by the ECB.
Quant’s Fusion framework, aimed at securing assets across various ledgers, is also in growth. The Devnet launched recently, with the mainnet expected within months.
On-chain data reveals that QNT’s exchange balances have dropped to 1.64 million, the lowest as May 25. This suggests investors are moving tokens to self-custody wallets.
Technically, QNT has formed a cup-and-handle pattern. If it breaks above the handle, it could rally toward $180, a 71% gain. Though, a drop below $85.78 would invalidate this bullish outlook.
