Quant crypto price surged in the past few days as investors bought the dip. The QNT token rose to a high of $88.55 on Wednesday, its highest level since March 3 and 50% above its lowest level this year. This article explores some of the top reasons why the coin will likely continue its upward trajectory soon.
Key Partnerships Strengthening Quant’s Market Position
Quant offers companies, governments, and other entities an operating system to develop fintech solutions leveraging blockchain technology.
Overledger is a network that facilitates interoperability between multiple blockchains and legacy systems. It acts as a middleware layer that enables creators to build multi-chain applications and connect systems without requiring changes to the blockchains.
Overledger is often compared to Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which provides a standard for decentralized cross-chain communication. The primary distinction is that Quant’s Overledger is blockchain-agnostic and primarily targets large enterprises.
One reason Quant’s price might surge is its solid partnerships. This week, it was revealed that it is one of the companies helping the European Central Bank (ECB) create a digital euro.
Quant also partners with Oracle, one of the top technology companies globally. Its technology powers Oracle Blockchain Platform Digital Assets Edition (OBP DA), which helps it move digital assets within a unified ledger architecture. Other companies using Quant are SIA, Constellation Network, KPMG, Hitachi, and Deloitte.
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Exchange Reserves Falling
Quant price will likely benefit from the ongoing decline in exchange reserves. CoinGlass data shows 938k QNT tokens on exchanges, down from 1.08 million in November last year. A significant drop in exchange reserves indicates that holders are not selling their coins, which is a bullish catalyst.
QNT Price to Benefit from RWA Theme
Quant price will likely benefit from the ongoing Real World Asset (RWA) theme, which is anticipated to thrive over time. Analysts believe that assets worth trillions will be tokenized in the next decade.
This optimism explains why the Securities and Exchange Commission (SEC) will meet companies in the industry for a roundtable.
If the industry grows, it will need partners that offer some of Quant’s technological services. Quant’s blue-chip partners will help boost its credibility in the industry.
Quant Crypto Price Has Solid Technicals
Further, the daily chart shows that the QNT price has been in a slow uptrend in the past few weeks. It has already exceeded the 50-day moving average and the 76.8% Fibonacci Retracement level, a technical indicator for identifying potential support and resistance levels.
Additionally, the Relative Strength Index (RSI) and MACD indicators have shown an upward trend, signifying increased market momentum. Therefore, the coin will likely keep surging as bulls target the next key resistance level at $122, up 40% from the current level. A move above that price will point to further gains, potentially to the 38.2% retracement level at $125.
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