The price of Quant (QNT) has risen by 75% following significant partnerships with the European Central Bank and Oracle. This article explores the causes behind the growth and possible forecasts.
Recent Price Surge of Quant
Quant traded at $105 on July 4, showing a rise of over 75% from its lowest point this year. This rally has brought Quant’s market capitalization to over $1.2 billion, making it the 60th largest coin in the industry.
Dynamics of Collaboration with the European Central Bank
Quant Network gained traction earlier this year when Oracle launched the Oracle Blockchain Platform Digital Assets Edition using its technology. Additionally, Quant was included in a group of companies assisting the European Central Bank in developing a digital euro.
Technical Analysis and Price Projections
The daily chart indicates that QNT bottomed at $59.25 in April and surged to $120 in June, forming a cup-and-handle pattern. A potential rise towards $180 is projected if the price remains above the support level at $85.78.
The rise in Quant’s price and its new partnerships with major organizations like the European Central Bank and Oracle highlight the cryptocurrency's potential in the market. The ongoing and future developments may create additional opportunities for price growth.
