$QNT Went crazy! In one day it surged 89%, jumping from $150 to $281.
The reason is solid: it was selected by The Clearing House to handle an on-chain currency plan for 2027, and 7 UK banks have also gone live with tokenized deposits—traditional finance really is being used.
But the strangest part is the contract data: the long/short ratio is only 0.73, and shorts are still adding positions. With a move this big, if shorts aren’t running, either they’ve been squeezed and don’t have time to close, or they’re betting on a pullback. The funding rate annualized is just 0.34%, which suggests longs aren’t out of their minds either. This rally was driven purely by spot buying pressure pulling the price up hard.
That said, RSI previously spiked to 96. Even though it has pulled back, it’s still elevated—chasing at this level can be risky. News like this about cooperation between traditional finance and on-chain systems is typically a long-term positive, but if it spikes too hard in the short term, a correction is easy to happen.
The reason is solid: it was selected by The Clearing House to handle an on-chain currency plan for 2027, and 7 UK banks have also gone live with tokenized deposits—traditional finance really is being used.
But the strangest part is the contract data: the long/short ratio is only 0.73, and shorts are still adding positions. With a move this big, if shorts aren’t running, either they’ve been squeezed and don’t have time to close, or they’re betting on a pullback. The funding rate annualized is just 0.34%, which suggests longs aren’t out of their minds either. This rally was driven purely by spot buying pressure pulling the price up hard.
That said, RSI previously spiked to 96. Even though it has pulled back, it’s still elevated—chasing at this level can be risky. News like this about cooperation between traditional finance and on-chain systems is typically a long-term positive, but if it spikes too hard in the short term, a correction is easy to happen.
