Quant and The Graph Lead the Charge as Crypto Money Rotates Away from Bitcoin and Ethereum

Bitcoin and Ethereum are stuck in a trading range, while speculative capital is rotating into institutional-infrastructure altcoins. One of the beneficiaries is Quant, a technology company that helps banks move money and assets across different blockchain systems without switching platforms. In a single day, 645 transactions worth at least $100,000 hit the Quant network, the most ever recorded. This is because Quant's technology is being used by real banks and institutions, including The Clearing House, which picked Quant to help power its new system for moving bank deposits on-chain. The reason for the surge in Quant's price is that there is a hard cap of just 14.88 million tokens in existence, making it possible for big buying to push the price up fast. Analyst Greg Lunt points out that Quant's technology is being used by major players such as Murex, Oracle, and central banks, and that the company has a limited token supply, which contributes to its price volatility.

Another beneficiary of the rotation is The Graph, which helps apps pull data from blockchains. The Graph saw 24 transactions worth $100,000 or more in a single day, its busiest day all year. Chainlink, which helps blockchains talk to real-world data and other networks, also touched a fresh high, despite some smaller holders selling into the rally. Santiment reads this as bigger buyers stepping in to absorb the coins that retail traders are selling for profit. Chainlink has also rolled out an upgrade to the technology it uses to move assets between different blockchains, which has already handled more than $24 billion in transfers.