QNT surged nearly 20% intraday on Monday, with trading volume rising significantly, while Bitcoin barely moved at the same time.
I looked around, and there was no new announcement this time.
People are still trading the old September news.
At the end of September, U.S. clearing house TCH chose Quant to build a tokenized deposit network. TCH is backed by several major U.S. banks, and the network is not scheduled to open until the first half of next year.
After the news came out, QNT jumped from the low $70s to above $370, then nearly halved over the next month or so, and last Saturday it fell to a low in the $170s.
This rebound looks more like capital returning to the institutional narrative, with no new fundamental data supporting it.
The contract is for Quant's technology and services, and the announcement did not say whether the banks would need to hold QNT tokens.
In the short term, watch two levels.
The $200 round number has already been tested once today. If it holds, the rebound still has room to continue.
The $224 area, where Monday's rally faded, is the first resistance above. Only a breakout with volume would mean the downtrend since September has been reversed.
Do you think the banking narrative will have a second wave, or is this just a rotational rebound?
$QNT #Quant #tokenized deposits