Quant token (QNT) has seen a significant rise in value over the past week, gaining over 17%. This surge is attributed to the regulatory approval for its staking feature.
Staking Launch on Overledger Network
According to crypto.news, Quant (QNT) is trading at $70.82. The altcoin reached an intraday high of $71.70, which is 25.2% above its weekly low, showing strong upward momentum. One of the main drivers behind QNT's recent rally is the long-anticipated confirmation of staking capabilities on the Overledger Network, announced by CEO Gilbert Verdian.
Whale Activity and Investor Interest
Another catalyst for QNT's price rise is the increase in large holder activity around the token. According to whale tracker FishTheWhales, whales have ramped up their accumulation of Quant at recent low points. Data from Into The Block shows the net flow of large holders increased from -3.1k QNT on Sep. 2 to 15.41k QNT on Sep. 6, signaling growing confidence among major investors and adding to the bullish market sentiment.
Analysts' Outlook on QNT
Crypto analyst Dami-Defi highlighted that QNT has successfully broken out of its 'falling wedge' pattern, a bullish indicator suggesting a potential trend reversal. This breakout was supported by a significant rebound from the crucial $59.5 support level. Surpassing the $69 resistance level has now opened the path towards higher targets, with the next target at $82, and if momentum continues, the final target being $145.5.
QNT's current growth is a result of strategic network improvements and increased interest from large investors, indicating a strong potential for further gains in the near future.
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