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Quant (QNT) surged by more than 300% compared to its lowest levels last week, trading near $274 on September 28, after its price crossed the $350 mark during trading sessions, before it pulled back on part of its gains.
According to TradingView data, the price of QNT rose from a range of between $60 and $70 last week, reaching a peak above $350, prompting the coin to move closer to its all-time high of $427.42, recorded in 2021.
The latest upward wave came after The Clearing House announced its selection of Quant to provide the infrastructure for the On Chain Money initiative, a payments network aimed at enabling financial institutions to clear and settle tokenized bank deposits.
Quant will provide the interoperation layerโoperational coordination and transaction management for the networkโlinking it to existing payment systems, including RTP and CHIPS. The network is expected to be available to participating institutions in the first half of 2027.
QNT had recorded, up to September 26, the strongest weekly performance among the top 100 cryptocurrencies after rising 61.8% over seven days, trading near $104.57. Gains accelerated over the following two days, with the price breaking above the $300 level before profit-taking activity caused it to fall.
The Clearing Houseโs announcement is set to be one of the key drivers behind the recent rise, as the U.S. institution operates networks to process and settle transactions worth more than $2 trillion per day, including bank transfers, ACH payments, and real-time payments.$IO
