Quant, Ethena, and Bitway Lead Crypto Market's Strong Gains

The cryptocurrency market has seen some significant gains over the past week, with Quant, Ethena, and Bitway leading the pack. According to CoinGecko, Bitcoin gained about 3.8% over seven days, while the total crypto market value stood near $2.98 trillion.

Quant rose an impressive 61.8% after The Clearing House selected it for a U.S. tokenized-deposit network. This news has sent Quant's price surging, with it trading near $104.48 and reaching as high as $108 during the session. A move back above $106.25 would put $112.50 in focus, followed by $118.75 if buyers sustain the advance.

Ethena gained 54.1% as it expanded its backing strategy into tokenized stocks and equity futures. The protocol has added Binance's bStocks to part of the strategy used to back its USDe synthetic dollar, which provides stock-linked exposure without voting rights. A move above $0.2807 would extend the latest breakout.

Bitway climbed 48.0%, but a sharp daily reversal put its weekly advance under pressure. The token has also been affected by withdrawals from Gate, with a new address withdrawing 5 million BTW worth about $3.71 million at the time. Regaining $1.00 and then $1.1513 would bring the $1.30, $1.37 area back into focus.