- QNT has rallied over 120% in the course of the last month
- Extremely favourable on-chain valuations, making it very attractive buy opportunity
- Major upside on the cards thanks to low base
WHAT IS QUANT (QNT)
Ever since the dawn of cryptos with Bitcoin, over 10,000 coins and tokens have been launched on different blockchain structures. Despite the fact that there have been many improvements since the very first blockchain was launched – even today the crypto space is plagued by a number of issues. Out of all those, one of the most frequently talked about is the lack of interoperability between blockchains.
So, the Quant Network was founded by Gilbert Verdian in 2015, with its native token Quant (QNT) being launched shorty afterward. It was founded with the main goal of providing a seamless interoperation such that the fractured world of ledger technology is evenly distributed. The Quant protocol was designed to remove barriers commonly encountered on blockchains in communication, interoperability and scaling.
2021 saw the QNT token rallying 386% in a matter of a few months, in line with the broader market bullishness. However, after touching its all time highs in September 2021, it began its downward journey and is currently trading at a 83% discount.
Check out latest QNT INR Price, Charts & Data.
QUANT (QNT) TECHNICAL ANALYSIS
A simple look at the technical structures clearly suggest that despite the fact that this coin has fallen 83% from its ATH, there seems to be something brewing behind the scenes here. It has broken out of the downward trend channel (marked in black) and even its 50-day moving average very convincingly and is holding on strongly above it. Its rally, that began towards the middle of June has managed to rake in nearly 120% percent as of 12 July, 2022, going from $44 to nearly $82 as of now.
Its rally was also accompanied by healthy volumes on the charts and even the Relative Strength Index crossed 75 mark at its highest point and is now running near 67. A further small run-up to the 200-day moving average may be possible too by the end of this week. It seems that this coin is moving reasonably strongly against the broader market cues and may be on of the frontrunners in the recovery to come.
This is a metric that basically counts the number of unique addresses that appeared for the first time in a transaction of the native coin in the network. And a rise in this metric only indicates more and more people are joining and may be interesting in joining the network to participate in the interoperability vision that Quant had set out with.
Additional Read: Quant Price Prediction
IS QUANT (QNT) AT A GOOD VALUATION?
The Market Value to Realised Value Ratio (MVRV) is a metric that is a measure of a token’s market cap versus the realised cap. It gives us an indication whether the particular crypto price is trading above or below a fair value and assess market profitability.
We can easily infer from the above chart that QNT was trading at a very high premium during its ATH times and since then has fallen significantly. However, what must be noted is that the value of the ratio is just barely below 1 mark. This indicates that the token is fairly valued at current price levels – thus a potential upside in the coin may be possible going forward. Adding in all the other factors we discussed above, a stronger recovery may all the more be likely in QNT too.
So, finally drawing inferences from all the above points, we can safely assume that QNT is a coin that is gearing up for a major price recovery. From attractive buying valuations to rising number of active participants on the blockchain network – both these things will only serve to strengthen the coin’s fundamentals and hence be instrumental in its oncoming rally. Along with that, QNT’s positive technical structures would serve as the icing on the cake for investors and traders.
Additional Read: Crypto Market Weekly
SO YOU WANT TO BUY AND INVEST IN QUANT (QNT)?
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The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.