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Are there any cryptocurrencies sustaining sustained gains in this bear market? The answer is yes, but look beyond the major tokens. Quants (QNT/USD) is one of them and remains in rebellious bullish mode.
Quant is the Ethereum-based token that powers the Quant Network. This network was started to make global information exchange seamless. The protocol’s overledger feature has helped address other blockchain interoperability issues. Native token QNT enables digital access to applications and services on the network. Businesses and developers pay access fees to Quant Treasury based on the equivalence of the native token QNT.
Big cryptocurrencies are overshadowing QNT, but it’s making a statement with its latest gains. On CoinMarketCap, QNT gained 22.33% over the week and 16.56% during the day. Ranked 31st by market capitalization, the cryptocurrency is the highest performer among its predecessors. Cryptocurrencies have been on a non-stop bull run for the past month. But the bullish momentum started in his June. CoinJournal investigates why.
Now, QNT’s rise reflects a positive development. On June 30th, Quant announced the tokenization of its tokenized product. This product enables developers to create digital assets and interoperable tokens in Polygon, Ethereum, and XDC. Again, on August 22nd, Quant announced the non-fungible token standard QRC-721, in line with its tokenization mission.
Quant recently published an update on their Overledger product. This update improves the functionality of transactions and QRC-721 tokens on Ethereum. There is speculation that quants may join the development of central bank digital currencies.
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Source TradingView
On the weekly chart, QNT is trending upward. The Cryptocurrency Overcame Resistance At $152 And Continues Up. QNT’s next resistance is at $197, so the token has room to move higher. An RSI reading of 66 also suggests room for upside
QNT’s Bullish Momentum Makes It Attractive Amid Bears Cryptocurrency market. QNT is buying towards the $197 resistance due to the strong resistance to ongoing macro concerns. That said, the attractive entry could be even lower, at $152 or $129. Investors should buy tokens when they see a clear bullish signal in the mentioned zones.
