One of the most significant crypto projects now underway is Quant Network, a blockchain interoperability solution. As a result, QNT, the native coin of the network, has seen significant price growth.
As the market’s focus has moved from fear to greed, QNT is one of the best-performing cryptocurrencies right now. The cryptocurrency is now trading at $376.56. It is up to 12.18 percent in the last 24 hours and 17.58 percent in the previous seven days. This year’s performance has been so strong that it achieved a new all-time high of $430 on Thursday last week.
QNT’s current performance would have been better if the cryptocurrency hadn’t already entered the overbought zone. It subjects to selling pressure as some investors exit the market.
Why is QNT Rising?
QNT is gaining popularity among cryptocurrency investors due to its rapid institutional acceptance. Oracle is one of Quant’s most important partners. It recently released its Q2 report. This included a list of some of the top financial organizations currently utilizing its blockchain. While more than 500 banks have already signed up, major institutions including HSBC, JP Morgan, and Humana are among those on the list.
Since some of the world’s major financial institutions use the Quant network, its significance in the banking industry, and in particular, the adoption of blockchain technology, is enormous. Such utility bounds generate demand for the QNT coin, contributing to future healthy growth.
Some of the most important cryptocurrencies, like Ethereum, Bitcoin, and Cardano, have eclipsed Quant. As a result, the Quant network will be able to help ensure that the internet of blockchains can tap into even more usefulness and efficiency.
Quant’s structure can launch crypto projects on it. It allows them to switch to whichever blockchain best matches their needs at any time. It provides flexibility previously unavailable in the blockchain sector. Moreover, this level of efficiency will be critical for dapps and other cryptocurrency ventures.
QNT tokenomics and potential QNT now has a market capitalization of $4.6 billion and little more than 12 million coins in circulation. Its market capitalization relatively gets low but will rise dramatically as the demand for the network grows. This is especially plausible now some of the world’s largest financial institutions use the network.
Quant is rumored to be participating in the deployment of CBDCs, but this has not been proven. However, if this is the case, QNT will most certainly be in higher demand than ever before. A combination of QNT scarcity and tremendous network demand will almost certainly result in excellent price action in the future.
The coin is now one among the cryptocurrency market’s hidden treasures. It has the potential for massive growth in the following years.