Broad Crypto Pullback Drives Quant's Price Drop
Quant's (QNT) price dropped by 4.47% over approximately 45 hours, but experts say this is not due to any project-specific issues. Instead, the decline can be attributed to a broad crypto pullback linked to US macro data and inflation expectations.
The total cryptocurrency market cap has been down in recent days, with a 24-hour change of about -3.63%, indicating a risk-off phase rather than isolated weakness in QNT. Bitcoin's pullback from above $82,000 to the high $70,000s ahead of key US Producer Price Index (PPI) and Consumer Price Index (CPI) releases has also contributed to the decline.
Another factor is the liquidations and derisking that have spread across altcoins. In a typical scenario like this, mid-cap infrastructure tokens such as QNT would experience price swings of 3-6% over 1-2 days due to broad market-wide selling and leveraged unwinds.