Quant's QNT Token Surges 300% After Major Bank Deals

Quant's QNT token has surged over 300% in one week, making it the top performer among the top 100 cryptocurrencies by market capitalization. The rally was sparked by two significant announcements on September 24: US-based The Clearing House selected Quant to power its new tokenized deposit network, and seven UK banks completed their first interbank transactions using tokenized pound deposits on Quant's platform.

The Clearing House is owned by 25 major US banks, including JPMorgan Chase, Bank of America, and Citi. The tokenized deposit network is expected to go live in the first half of 2027. This deal is significant, as it could set the stage for the broader industry's adoption of tokenized products.

The UK bank pilot was a live test, marking a major milestone for Quant in the European market. The QNT token has been trading between $64 and over $371 before retreating to around $260 at the time of writing. Traders are looking at the $320 to $370 zone as the first area to reclaim.

The daily Relative Strength Index (RSI) is sitting at 86, its most stretched level on the five-year chart, suggesting that the rally may be running out of steam.