Bear market price rallies are not uncommon at 10, 20, 30% But a 450% price rally is no joke! When I first noticed Quant, it was priced at $4. It continued to build aggressively, partnered with Oracle, MIT, and kind of turned unstoppable.
In March 2022, $QNT made it to the ISO-20022 coin list and that is really really huge. I will tell you why in detail. But, after a 450% rally do I think $QNT has more fuel left? Well our TA experts tell me Quant could easily. Pump 200% from here, when and why let’s find it out.
What Is Quant Network?
Quant’s goal and mission is to connect blockchains. They deliver interoperable ecosystems. In 2021, Quant Network’s Overledger was certified by Oracle as their “production-ready solution to support cross-ledger interoperability between Oracle Blockchain Platform and other ledger technologies.”
Also, the rumor is HSBC is also using Quant Network. If they happen to announce it in 2022, $QNT could just tear through this bear market. Add to this mix some features that we all like and enjoy, like lower costs and reduced risk. Most important is to achieve that the end users require no complex infrastructure.
They developed an operating system to achieve just this. It goes by the name of ‘Overledger’. This allows for networks and blockchains to connect. For example:
- Health care
- Financial services
- Supply chains
- Insurance
Instead of dApps, they use Mapps. A Mapp is a multi-chain application. A dApp works on 1 blockchain and protocol. A Mapp is multi-chain and multi-protocol.
Our focus is to work on the technology & the platform to deliver to the market & build the ecosystem around Overledger. The critical component of the platform is the QNT token as a key to access the MApp Store & run MApps, similar to an Apple ID to use the Apple App Store. pic.twitter.com/zMFN8swpLA
— Quant (@quant_network) April 1, 2018
To use the Overledger, you must have a certain quantity of the QNT token. This goes for both developers and users. A great move, since this guarantees a continuous demand for QNT. Especially if we consider that there are only 14.6 million tokens, ever. That’s 2/3 of the Bitcoin supply.
It’s time to take a look at why Quant managed a rally during this bear market.
Why Did Quant Rally in Extreme Bear Market?
During a bear market, a long rally is rather unheard of. Nonetheless, Quant just had a 5-month rally. Starting in mid-June and currently topping out in mid-October.
QNT had its ATH back in September 2021, at $427. Just like most or all altcoins, the price dropped ever since. All the way to $48 in mid-June. That’s 9x less than the ATH. So, how come we saw this rally? It peaked on 17th October at $224.60. That’s the highest price after the ATH and a 450% rally.
Well, a couple of things contributed to this rally. So, let’s have a look:
- Overledger 2.2.11 — This release in July connected Hyperledger Fabric v2.2.
- Overledger 2.2.12 — On 4th August. This allows you to create QRC-721 NFTs. You can use them on the Ethereum, Polygon, and XDC mainnets.
- Quant (QNT) is on the ISO 20022 compatible list. More on this shortly.
- Binance US added QNT in early November.
$QNT Ignore the noise. pic.twitter.com/DDS8hx5b4q
— Sir Hodl of Quantshire (@AndyD25611160) November 9, 2022
We also saw the following trends develop:
- Unique addresses — Up from 5,850 in June to 10,949 in October. Showing a slow but steady interest from traders and buyers. From 19th October we see profit taking and the price and unique users’ numbers both dropped.
- Whales — During this same period, many whales took part in the rally. These are QNT holders that have between 100 – 1000 QNT. They started to sell on 16th October. That’s a day before the highest price arrived in this rally on 17th October.
To keep this momentum going, Quant will need to keep increasing its user count. They will also need to increase partnerships. On the other hand, their number of tokens at 14.6 million works in their favor.
Were you one of the people that foresaw the Quant rally? Anyway, this brings us to the ISO 20022 list.
Why Is Quant in ISO 20022 Coins List, and What Does It Mean?
ISO 20022 is an international standard. All financial institutions have their own coding language. ISO 20022 unites them into one single language. This should make international transfers easier and better organized. This is the extensible Markup Language (XML). It’s another aspect of Quant’s interoperability. However, now with international cross-border payments.
It is specifically for DLT (distributive ledger technology). In other words, blockchains. SWIFT and the Federal Reserve already back it. So, ISO 20022 will be the framework of the new SWIFT platform for international payments. Currently, Quant is one of the few blockchains that are compliant with ISO 20022.
"Top of mind, everyone is talking about #CBDCs and digital assets,” says @gverdian to @fintechf. “That work, we are actually doing with large banks, central banks; and we are testing it instead of just talking about it.”
See #Sibos highlights:1:03-1:24https://t.co/MkGM0wx3Y2 pic.twitter.com/d243I2KkJW
— Quant (@quant_network) November 9, 2022
Other chains are, for example:
- Algorand
- Ripple
- XDC Network
- Hedera
- IOTA
- Stellar
The impact of ISO 20022 will be significant. They’re looking at over 200 different payment types. One of the things it will accommodate is CBDCs. Quant and Algorand are competing in this CBDC market segment. Currently, already 70 countries adopted ISO 2022. This includes, for instance:
- China.
- Switzerland.
- Japan.
- India.
It will impact everybody who is involved with payments. This includes financial crimes. On the other hand, regulators may act more leniently with compliant projects.
Mass adaption is in the cards for this project. As a result, it will also affect the way how crypto and fiat currency ecosystems currently exist. That may be quite an interesting and radical effect.
Are you a fan of CBDCs? So, this brings us to our last part, the Quant price prediction.
Quant Price Prediction
QNT is trading close to a crucial area of $156. This area has been a long-term support area until Jan 2022 and after breaking this support area, we saw QNT quickly drop towards the lower weaker support areas.
So, the $156 zone then turned into resistance and 4 attempts were made to break this resistance the 4th attempt was successful and QNT broke $156 and is currently trading above this zone.
Source: Tradingview
If this resistance can be successfully flipped to support and QNT manages to stay above or around $156, we could start seeing a bullish trend in QNT and a move towards $179, $194, $206, and $218 is possible in the short term. Once $218 is reclaimed, we can see a move towards $235, $257, $319, $421, $522, and $585 in the long run.
Failure to trade above the support area of $156 could lead to a drop toward $137, $128, and $108.
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