QNT Whales Exit Amid 400% Price Surge Following TCH Partnership
A sudden surge in demand for Quant (QNT) triggered a wave of activity from large holders who had been dormant for over three years. The price of QNT rose by as much as 400% over the past week, prompting two major addresses to break their silence and transfer significant amounts to exchanges. According to Arkham Intelligence, address 0x6d32 transferred 8,250 QNT to Binance, worth approximately $1.88 million at the time of the transaction.
Another address, 0xd633, took a more phased approach, moving 34,200 QNT (about $8.05 million) in total. Of this amount, 9,000 QNT ($2.12 million) was sent to Coinbase and Kraken. The assets moved were worth about $10 million in total.
The catalyst for QNT's sharp rise was an official announcement from The Clearing House (TCH), a U.S. consortium of major commercial banks including JPMorgan, Citi, and Bank of America. The organization selected Quant as a technology partner for integrating tokenized deposits, which triggered a wave of speculative demand.