Quant Whales Stir as Banking Infrastructure Adoption Boosts Price
Quant (QNT) has seen a significant increase in activity from dormant whale wallets after a 400% rally, with over $9.9 million in QNT moved towards major exchanges.
The surge was triggered by The Clearing House selecting Quant for its U.S. tokenized-deposit infrastructure initiative, which is designed to allow financial institutions to clear and settle tokenized deposit transactions through an interoperable network.
Two wallets that had been inactive since 2023 moved millions of dollars in QNT as the token surged, with one address transferring 8,250 QNT to Binance and another moving 34,200 QNT worth about $8.05 million.
The Clearing House's On-Chain Money Initiative is expected to give QNT exposure to a major institutional push involving tokenized bank deposits, which may raise questions about how infrastructure adoption affects direct demand for the token.