Quant has had incredible bullish swings since mid-2022. Like many other cryptocurrencies, QNT has been faced with instances where it dips. However, the beginning of the year saw QNT soaring in its price. What is next for the price of Quant? Can this king of decentralized communication hit $1000 in 2023?
Quant could reach the $1000 mark. However, this has to be equated to the long-term option. According to analysts and traders, Quant might reach $1000 by 2030. But how high can it go in 2023? Let’s have a look at its analysis below to ascertain this.
What is Quant (QNT)?
Quant (QNT) is the first cryptocurrency to attempt to address the issue of blockchain accessibility by developing the first “blockchain operating system,” which is termed Everledger. The primary objective of Overledger is to connect other blockchains without sacrificing efficiency. It also enables the development of MApps, or multi-chain applications (also known as dApps), which operate across multiple blockchains and cross-blockchain smart contracts.
Quant was launched in 2018 and is built on the Ethereum blockchain as an ERC-20 token. The token utilizes different layers for different purposes. The QNT tokens are used as access fees based on the fixed fiat amount. This means that more QNT tokens are generated and passed for circulation according to the number of users, and the amount of fiat used.
The primary function of QNT is to remove the barrier encountered on blockchains during communications. It uses layers such as the Transaction layer, messaging layer and filtering and ordering layer. The key features of the QNT token include
- Everledger Network: its function is to ensure that information and data transfer is secure.
- Overledger DLT Gateway: designed for large clients, its main part is to help the system with connectivity between the ledger system and networks.
- Quant mDApps: the feature allows different DApps to work on as many chains as possible.
Quant Fundamental Analysis
Quant has had up and down swings which have seen traders profiting much. However, the coin has been struggling to surge higher, especially after the collapse of the FTX crypto exchange, which brought the whole market bleeding. The token has seen an all-time high of $427.
QNT PRICE ANALYSIS CHART: Source COINGECKO.COM
At the time of writing, the price of QNT is trading at $138.72 with a 24-hour low of $136. Additionally, The coin has been trading a 24-hour volume of $35,138,616 with a market capitalization of $2,020,068,713, representing 0.178% market dominance.
QNT has been on an uptrend since the beginning of 2023. However, it has been experiencing some resistance lately, even though it is trying to break out. In the past 30 days, QNT has risen by 20%. The token has received excellent community support, with 84% feeling optimistic about QNT. The recent BTC surge is also a boost in the bull rally of the Quant token.
QNT Technical Indicator analysis
After a series of bearish moves on the Quant market price, support at $41 was formed, ensuring that the price does not plunge further. The price of Quant has been on an uptrend although showing sharp rises and false.
QNT/USD CHART ANALYSIS: Source TRADINGVIEW.COM
According to the daily chart above, the price of Quat is moving on an uptrend bouncing on the up trendline. However, the price looks like it has formed the daily head-shoulder pattern. The partner signals a fall in price levels. This could easily mean that the pump QNT is experiencing might be fake.
On the other hand, the 50-day moving average is crisscrossing the 200-day moving average. This signals a bearish move, although the market has surpassed the shoulder level of $132 to the upside.
Furthermore, the Relative strength index is on a bearish move, trading slightly above the 50 level mark at 51. If the shoulder support level is anything to go by, the price may sustain the upward trend to reach the next resistance level at $240.
Should the price break below the support level, the next support will be $102.
How To Buy Quant (QNT) Token
Several cryptocurrency exchanges, like Binance, Coinbase Bing x and most notably, Bybit, offer QNT for purchase. You can follow these easy steps to purchase QNT on Bybit:
- Create an account with the Bybit exchange as the first step.
- Look for the QNT/USDT pair in the Spot market area.
- Verify that USDT is present in your Bybit wallet. By exchanging fiat money for it, you can buy USDT.
- Select a limit order and price for your transaction, then click Buy.
- To prevent stealing of money during a transfer, make sure your wallet and the Quant token are in sync.
- Protect your private keys from online fraudsters.
Frequently Asked Questions (FAQ)
How can I buy Quant tokens?
You can buy Quant tokens through popular exchanges like Binance, Coinbase and Bybit.
What is Quant Token?
Quant (QNT) is an ERC-20 token that utilizes different layers to access good communication.
Is Quant a good investment?
Quantum cryptocurrency is a great investment, particularly if you want to use it as part of a long-term plan or strategy.
How can I add Quant (QNT) to MetaMask?
You must import QNT as a token to add QNT tokens to your MetaMask wallet. By copying it, you can manually import the contract address for QNT.