Quant (QNT) Surges 472% on Institutional Interest and Scarcity

Quant (QNT) has staged a remarkable rally in recent weeks, climbing from around $65 in mid-September to $372 on September 27. This represented a 472.3% increase and sparked significant discussion across the crypto market.

According to John Gillen, former BlackRock vice president and co-host of the Milk Road podcast, several factors contributed to QNT's breakout. He highlighted institutional interest in Quant's technology, particularly its involvement in The Clearing House's On-Chain Money Initiative.

Gillen noted that Quant's limited supply of 14.9 million tokens, with more than 12 million already in circulation, adds to demand for the asset. This scarcity, he argued, reduces potential selling pressure from locked tokens and scheduled token releases compared to other projects.

Quant's patented Overledger technology, which has undergone extensive institutional evaluation, was also cited by Gillen as an important factor in QNT's success. He pointed to Quant founder Gilbert Verdian's background in cybersecurity and technology, including his previous role as head of cybersecurity for the UK Treasury.