TL;DR Breakdown
- Although the entire crypto market is down, one coin was able to surge.
- Quant (QNT) price was able to surge more than 125 percent this week.
- The reason for this huge increase in price was the listing on Coinbase and market support.
For the evolution of any cryptocurrency and adoption by the entire market, the currency needs to have a practical implementation and real-world application. If they are not present, the blockchain project fails. This is where came the listing of the Quant coin on Coinbase. QNT was able to surge by more than 125 percent this week, and right now, it is trading at $79.
Source: Tradingview
In the current situation, likely, many crypto projects won’t survive the fall. This is because the trading and investing sentiments are tested during such bearish markets. Along with Bitcoin, the altcoins suffer too, which creates confusion in the market, ending the bulls and bringing in the bears.
Why was Quant able to surge even in the bearish market?
Quant is an interoperability-centralized project with the basic goal of helping organizations integrate DLT or Distributed Ledger Technology. This is why Quant got so much support from enterprises and firms, which in turn explains the dominance of QNT in the market. A dip was seen by QNT on June 22, when the entire market was experiencing sell-offs.
On June 22, the coin was for $44, and on June 25, it was trading at $99.11. This growth of more than 135 percent shows that this coin has great potential and might become one of the leading blockchain projects in the future. With the listing of Quant on Coinbase, a surge in the trading volume for the coin was seen.
It all started on June 14 when the blockchain project saw a huge update getting integrated. The update was termed Overledger 2.0. The website for Quant claimed that this is the Distributive Ledger Technology that seeks to deliver interoperability across every enterprise and related system.
“DLT gateway that delivers interoperability across different systems, networks, and DLTs.”
Quant was able to gather support from formidable companies that include Oracle and Deloitte. The indicators were able to detect the increase in the coin price, and after the inclusion of the coin on Coinbase, around 50 percent additional surge was seen.
