Quant Surges Over 50%, Leading Altcoin Gains Amid Broader Crypto Weakness

The crypto market is experiencing a mixed day, with Bitcoin and other major assets trading lower. However, some altcoins are bucking this trend, posting significant gains.

Quant (QNT) is leading the charge, surging over 50% in 24 hours to a high of $357. Its recent selection by The Clearing House for its On-Chain Money Initiative has been a major catalyst, as Quant will provide interoperability and transaction-management layers for a new network designed to allow financial institutions to clear and settle tokenized deposit transactions.

Hedera (HBAR) is also performing well, jumping over 30% in 24 hours. The token's price increase is attributed to the partnership between IBM and The Hashgraph Group, which listed the Hedera-based IDTrust identity platform on the IBM Cloud Catalog.