Quant Network’s QNT coin rose 50% in September from $87 to $131. As noted by crypto analytics firm Santiment, QNT ranked second among the top 100 crypto assets in terms of profitability in September. Moreover, it ranks first on a weekly basis.
In addition to the impressive increase in QNT price, the altcoin has seen the largest trading volume since September 2021 and there is extremely high activity on QNT addresses.
Again by Santiment stated “Volume, daily active addresses and whale accumulation supported QNT’s rise.”
Koinfinans.com As we reported, there are a number of reasons for the movement in altcoin price. The first reason was reported by Santiment itself, who reported that whales holding 100 to 1,000 QNT have increased their positions by 15.4% in the last five months. Given the relatively small market cap of the project and a fairly high QNT price, such purchases in the unregistered crypto market can positively reflect on the price of the asset.
Quant Network and CBDC
Other reasons for the increased demand for QNT include Quant Network’s expertise in interoperability and its exclusive work with CBDCs, also called “government cryptocurrencies.” Given the expertise of Quant Network, which has managed to work with the Digital Pound Foundation on CBDCs for the Bank of England, the company can be considered almost the most successful network in the industry.
At the same time, there are active discussions in Europe and Australia about creating their own digital currencies that could potentially provide new partners for the Quant Network.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.