Where does Quant Network stand amid a 90% price rally and significant accumulation of QNT?


In the last quarter, the bloodbath that affected the cryptocurrency market caused the prices of many crypto assets to register falls. Since the beginning of the third quarter of 2022, many of these crypto assets have shown signs of recovery. With a price rebound of more than 90% since the beginning of the month, quantum network The QNT token has taken the lead. Let’s take a closer look at the performance of the token since the beginning of the quarter.

Price-performance analysis

At the beginning of the month, the QNT token registered an index price of $51.8. In the last 15 days, the QNT token price shot up more than 92%. At the time of writing, the price per QNT token was set at $99.72.

In the period under review, the token also saw some growth in its market capitalization. Located at $625.85 million at the beginning of the month, it also registered a growth of 92% in the last 15 days. He currently ranks 43rd in CoinMarketCaps ranking of crypto assets with the largest market capitalization, at the time of writing, the market capitalization of QNT was 1.2 billion dollars.

However, an evaluation of the token’s performance in the last 24 hours told a different story. The QNT token recorded a 5% decline in price. The bearish correction came after the token reached a high of $107 per QNT token during intraday trading on July 15. The trading volume also saw a decrease of 15.42% in the last 24 hours.

On the daily chart, the Relative Strength Index (RSI) was in the overbought region of 71.06. Similarly, the Money Flow Index (MFI) marked its spot at 88. This showed that there has been a significant accumulation of QNT tokens in the last 24 hours.

QNTUSDT 2022 07 16 07 16 58

Source: TradingView

chain analysis

On-chain data revealed that the QNT token saw some gains in the last 15 days. Although, these gains are incomparable with the astronomical growth of the price in the same period.

The number of unique addresses exchanging QNT tokens within the period under review saw a 50% growth. At the time of writing this article, the daily active addresses on the network were 1,834 addresses. Also in the last 15 days, the total amount of QNT tokens in all completed transactions increased by 51%. Valued in USD, it grew from $7.27 million to $29.54 million.

Quant QNT 07.25.54 16 Jul 2022

Source: Sentiment

Additionally, in the last 15 days, a network-wide accumulation of QNT tokens was detected as the average coin age took an upward slope. At the time of this writing, the index for this was pegged at 577.

Quant QNT 07.30.51 16 Jul 2022

Source: Sentiment

Socially, the token saw traction in the period under review. Their social domain has grown by 200% and social volume has also seen a 122% increase.

Quant QNT 07.34.16 16 Jul 2022

Source: Sentiment