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

Quant (QNT) profits heavily from the CBDC trend, up 80% since September. Despite rising 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 highly depressed market conditions. It has gained more than 60% 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 Quant Network executives.

Quant Network is the only simple and secure platform in the world that provides easy connectivity to any DLT. Therefore, the CBDC is targeting a fairly large segment of the market in the future. 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 already has the necessary expertise to deal with government cryptocurrencies. He first announced his work in this direction last June.

Quant Network is now in the top 30

The second reason behind the uptrend; 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 called QRC-721 to help users create and deploy secure, interoperable NFTs and overcome the limitations associated with Ethereum’s ERC-721.

Analyst expects more than QNT price

As we covered in the cryptokoin.com 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. Retail traders often misinterpret the overbought RSI as a sign of an impending downtrend. However, this is not the case. Above 70 or overbought indicates that it is moving too fast and there may be a temporary drop. QNT’s rally is supported by increased accumulation between addresses with 100 and 1,000 QNT, according to Santiment.

Meanwhile, 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 an upward movement, the possibility of a drastic correction should not be overlooked.