Crypto
Quant Soars 227% as Top Crypto Names Decline
The cryptocurrency market saw significant fluctuations last week, with top names like Bitcoin, Ethereum, and Dogecoin recording declines. However, Quant (QNT) bucked this trend, surging 227% in just one week.
The price of QNT jumped from a low of $66 to a high of $358, pushing its market capitalization to $3.56 billion, up from $975 million the previous week. This spike has propelled QNT to levels not seen since over five years ago.
Quant powers the Quant Network, an interoperable operating system connecting blockchains with traditional banking networks. The recent Clearing House news, which selected Quant to settle tokenized-deposit transactions, likely contributed to the surge in QNT's price.