$QNT Soars After UK Banks' Tokenized Deposits Initiative

UK banks' tokenized deposits initiative has sent shockwaves through the crypto market, particularly for Quant ($QNT), Chainlink ($LINK), and Ondo. The latter two tokens have also seen significant price increases in recent months.

Quant's $QNT token has staged a strong comeback from its low of $55.48 in August to reach an all-time high of $104.3 today, propelled by the UK banks' adoption of Quant's technology for tokenized deposits. The daily chart shows a golden cross pattern forming, with the 50-day and 200-day moving averages crossing each other.

However, analysts warn that $QNT has become highly overbought, with an RSI reading of 80, indicating a risk of retracement to retest the key support level of $84.7.

Ondo's price surge accelerated after the SEC granted tokenization an innovation exemption and partnered with BlackRock. The Average Directional Index (ADX) has continued rising, suggesting ongoing momentum.