HBAR Implodes as QNT Soars on Clearing House Partnership
The crypto market has remained relatively stable despite some volatility in certain assets. HBAR was one of the top performers earlier today, but its value plummeted by 16.5% within hours after a Hedera-based identity platform was listed on the IBM Cloud Catalog.
The news initially sent HBAR's price soaring above $0.12, but as it became clear that the partnership was limited to a single product on a cloud marketplace, traders took profits and the price fell back down to around $0.1043. Despite this decline, HBAR is still up 9.91% for the week.
On the other hand, Quant (QNT) continues to surge in value, rising by 12.84% today and a staggering 299.39% over the past seven days. This increase is attributed to The Clearing House's selection of Quant to power its On-Chain Money Initiative, which will provide clearing and settlement services for tokenized bank deposits.
While some may see QNT as a promising investment opportunity, it's worth noting that the network won't be open to banks until the first half of 2027, leaving many wondering if the current price has already priced in too much growth.