Quant's Rally Stretched as Partnership Fails to Deliver Fresh Catalyst
Quant (QNT) has continued its impressive rally, trading at $288.42 on October 2, up 1.56% on the day and a staggering 306% over the past week.
This surge in price is largely due to the announcement made by The Clearing House on September 24, where they selected Quant to power their On-Chain Money Initiative, a bank-led network for clearing and settling tokenized deposits.
While momentum is stretched, with daily RSI readings above 80 indicating overbought conditions, QNT has so far been doing the healthier of two possible outcomes: a sideways cool-down while the indicator resets.
A warning sign, however, is that a dormant wallet linked to a Quant founder moved 25,776 QNT worth around $7 million on October 1 after roughly seven years of inactivity. This transfer, not confirmed as a sale, may still trigger selling pressure among traders.