Quant and Midnight Soar as Banking Infrastructure News Ignites Crypto Market

Quant and Midnight have been making waves in the crypto market, with their prices surging significantly over the past week. Quant's price jumped around 480% before retreating, but it remains around 160% above its earlier level. Midnight's price has also climbed more than 100% over the same period.

The key to Quant's price rally lies in its recent banking infrastructure news. The Clearing House, a US-based company that settles over $2 trillion daily, has selected Quant to connect its new network for tokenized bank money with existing financial infrastructure.

Greg Lunt notes that this selection is part of a broader history of institutional development for Quant. He cites the company's integration with Murex's MX.3 platform, which serves 65 of the world's 100 largest banks, and Oracle's certification of Overledger for coordination across different ledgers and traditional databases.

QNT's scarcity and futures trading conditions may also have contributed to the price movement. The token's maximum supply is approximately 14.88 million, and leveraged futures trading can magnify price movement during a rapid rally.