Why Is the Throwing Quant (ONT) Rising? 1,000x Awaiting!

Quant (QNT) profits heavily from the CBDC trend, up 80% since September. Although it rose 450% in just 4 months, some analysts say more is to come.

Why is Quant (ONT) rising?

Quant Network’s cryptocurrency QNT continues to rise amid rather depressing market conditions. It has gained more than 60% in value since the start of October alone. In September,

Behind the Quant (ONT) rally are statements from Sibos, the world’s largest conference dedicated to financial services. On October 13, the conference hosted by SWIFT, which presented CBDC ideas, welcomed several thousand attendees, including executives of Quant Network.

Quant Network is the only easy and reliable platform in the world that provides easy contact to any DLT. Therefore, in the future, CBDC is targeting quite a large portion of the market. After joint trials with the Bank of England on the digital pound when countries like Australia, India and Norway announced their own CBDC projects, the company essentially has the expertise needed to deal with government cryptocurrencies. He first announced his work on this side last June.

Quant Network is now in the top 30

The second reason behind the upward trend; There may be hype around the “tokenise” launch at the end of June. Tokenise allows users to create and distribute interoperable QRC-20 tokens (Ethereum standard equivalent) and cryptocurrencies.

Also, on August 22, Quant Network announced an NFT standard named QRC-721 to help users build and deploy faithful, interoperable NFTs and overcome the limitations associated with Ethereum’s ERC-721.

Analyst expects more than QNT price

Koindeks.com As we covered in their analysis, some analysts on Twitter say that ONT will continue to rally. On the technical side, the daily RSI is currently well above 70. Meanwhile, Bitcoin’s RSI index was directionless below 50.00. Personal investors often misinterpret the overbought RSI as a sign of an impending downtrend. However, this is not the case. A buy above 70 or a lot indicates that it is moving very fast and there may be a discontinuous drop. QNT’s rally is supported by increased accumulation amid addresses with 100 and 1,000 QNTs compared to Santiment.

In this midst, the number of QNTs held by whale addresses rose from 1.47 million to nearly 1.7 million in four months. While all this points to a movement in the upper direction, the possibility of a drastic correction should not be overlooked.

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