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According to market analytics firm Santiment, one of the only high-performing altcoins is showing signs of slowing down in the ongoing crypto bear market.
Interoperable blockchain network Quant (QNT) has surged 133% in five weeks, while most of the crypto industry has plateaued.
QNT has since lost some of those gains, but has fallen more than 18% from its high of $224.60 earlier this week to $183.81 at the time of writing.
Santimento Note That QNT reached its peak in 2022 for whale trades, i.e. trades above $100,000, just before the price hit its all-time high. The firm also said that cryptocurrencies were showing signs of inflows to exchanges since late last week.
According to a 2021 study published by Santiment, a significant increase in exchange inflows tends to cause the average price of crypto assets to fall by 5%.
Santimento too Note Long-term indicators for Bitcoin (BTC) are starting to look promising despite the sideways price volatility of the top crypto asset.
According to the analytics firm, BTC is showing network-realized loss levels similar to the price troughs of late 2018.
Bitcoin is trading at $19,271 at the time of writing, down more than 1.5% over the past 24 hours.
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