Can Quant Network’s latest partnership change the market narrative towards QNT

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  • Quant net­work has part­nered with UST to help finan­cial insti­tu­tions build CBD­Cs, sta­ble­coins, and so on.
  • QNT fol­lows trend as its price jumps by 10% in the last 24 hours. 

In a press release on 22 Novem­ber, Quant Net­work [QNT] announced that it part­nered with UST, a dig­i­tal trans­for­ma­tion solu­tions com­pa­ny. The aim of the part­ner­ship is to pro­vide tech­ni­cal inte­gra­tion and tok­eniza­tion ser­vices to cen­tral and com­mer­cial banks and cap­i­tal mar­kets participants.


Read Quant’s [QNT] price pre­dic­tion 2023–2024


Accord­ing to the press release, Quant Net­work would pro­vide the foun­da­tion­al tech­nol­o­gy required, while UST would offer inter­est­ed finan­cial insti­tu­tions sup­port by design­ing user inter­faces and inte­gra­tion vide its sandbox. 

“The part­ner­ship facil­i­tates the issuance of cen­tral bank dig­i­tal cur­ren­cies, dig­i­tal mon­ey in the form of com­mer­cial sta­ble­coins, and dig­i­tal secu­ri­ties onto major dis­trib­uted ledger net­works,” the press release stated.

On why the part­ner­ship with UST was nec­es­sary, Gilbert Ver­dian, founder and CEO of Quant, said,

 “UST has been at the fore­front of blockchain ser­vices for almost a decade, and their cus­tomer focus is aligned with our approach. The part­ner­ship will ensure that finan­cial insti­tu­tions can cre­ate new busi­ness oppor­tu­ni­ties and inno­vate with new DLT-embed­ded prod­ucts and ser­vices to tok­enize exist­ing asset classes.” 

QNT has room for growth

With the rest of the cryp­tocur­ren­cy mar­ket log­ging pos­i­tive price gains in the last 24 hours, QNT was not left out. The token’s price ral­lied by 10% in the last 24 hours. Fur­ther­more, as per data from Coin­Mar­ket­Cap, QNT exchanged hands at $111.94 at press time. 

Since FTX’s sud­den col­lapse a few weeks ago, QNT’s price has dropped by 27%. While the price decline mir­rored the gen­er­al market’s down­trend, on-chain data showed there had been few­er QNT sell-offs. In fact, investors have bought more than they have sold. 

Accord­ing to data from San­ti­ment, QNT’s sup­ply on exchanges has fall­en by 20% since 7 Novem­ber. This led to a fall in the asset’s exchange reserves from 2.18 mil­lion to 1.77 mil­lion in 16 days. 

Source: Cryp­to­Quant

As expect­ed, while its sup­ply on exchanges fell, QNT’s sup­ply out­side of exchanges ral­lied. Since FTX’s fall­out, this num­ber went up by 3%. 

Source: San­ti­ment

Fur­ther, QNT’s sup­ply dis­tri­b­u­tion showed that hold­ers of 1 to 10,000 QNT tokens remained relent­less in token accu­mu­la­tion in the face of numb­ing mar­ket bear­ish­ness. Per data from San­ti­ment, the count of this cat­e­go­ry of sharks went up by 31%. 

How­ev­er, the count of QNT whales that held between 10,000 to 1,000,000 QNT tokens wit­nessed a steady decline since FTX col­lapsed. At press time, the num­ber of these whales stood at 172. On 7 Novem­ber, this cohort of investors stood at 175.

Source: San­ti­ment

As of this writ­ing, neg­a­tive sen­ti­ment trailed QNT, despite the price ral­ly in the last 24 hours. 

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