Quant Whale Sells $2M Worth of Coins Amid Price Surge
A Quant (QNT) whale made headlines after selling off $2 million worth of coins. The entity, which had held QNT since 2019, sent 9,000 tokens to Coinbase and Kraken at a price of around $222 per token.
The sale represents an impressive gain of 884% for the investor, who initially purchased the coins at $22.57 each in 2019. The sale comes after QNT's price surged from $61 on September 16 to $373 on September 27, driven by the company's partnership with The Clearing House and UK Finance.
The entity, which has been holding QNT since May 2019, had previously trimmed its stash in November 2022. The latest sale marks a repeat of this strategy, with the investor selling off coins during a rally while maintaining a small order size to minimize public attention.