Cryptocurrency While the stagnation in the markets continues, big rises are recorded in some altcoins. Quant Network project’s native token, QNT, has gained 300% since mid-June to date.
On-chain analytics tracking platform Santiment, QNT released new on-chain data on the current status of the token.
According to Santiment’s data, the rise in QNT, which made a big rally in the summer compared to other altcoins, may have come to an end.
The Number of Whales Holding QNT Has Declined!
on-chain According to data, the number of investors holding at least 1,000 QNT tokens in their wallets continues to decline.
The number of large investors in QNT was flat during the summer months. However, as can be seen in the chart, the number of wallets holding QNT in the range of 1,000-10,000 has been decreasing since August. With the arrival of the annual peak in QNT in the past days, the decline in the number of wallets has become quite sharp.
The decrease in the number of QNT whales could be a precursor to a new risk of selling pressure in the token.
At Quant, the leading data for the rest period is not just the number of whales. There was also a peak in the number of active addresses that included all investors.
The number of active addresses associated with Quant Network was at 10,000 2 days ago. The number of active addresses decreased to 6,800 within hours.
What Level is Critical Support on QNT?
QNT, which marked the summer months, reached its annual peak by rising to $227 on October 17. QNT fell 22% to $175 within 3 days of the peak.
The most important support for QNT is currently in the $160-$150 range. If the green zone on the chart is lost, $127 could be the next support.
For the continuation of the upward movement, the $227 level should be followed.
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