Understanding Why This Cryptocurrency Jumped 400%: Quant (QNT) Defies Market Slowdown

QNT's surge has created plenty of excitement, but it has also pushed the token into a much more volatile phase. QNT has suddenly become one of the biggest stories in the altcoin market after a major partnership with The Clearing House. Its price climbed nearly 400% from $74 to $357 in less than a week. While it has since pulled back to $241, there seems to be more to the story as opposed to the move being simply a news-driven event. Traders Pile In According to data shared by Santiment, around 645 QNT whale transactions worth at least $100,000 were recorded on September 28th. This was the highest level ever seen on its chart. The analytics firm explained that while continued whale activity is encouraging, “cooling prices and consolidation would create a healthier setup than another straight-line surge.” The rally followed The Clearing House’s September 24 announcement that it had selected Quant to power its On-Chain Money Initiative. The project is being developed to help financial institutions clear and settle transactions involving tokenized deposits. The Clearing House operates payment networks that process more than $2 trillion in transactions each day. Quant’s role gives QNT a...