Before chasing $QNT, look at this number first: it surged to 224.6 last night and is now 198, already giving back about 12% from the high.
$QNT is currently ranked #1 in the Binance Square trending searches. Between 5 PM and 8 PM yesterday (Taipei time), on Coinbase it climbed from 198 to 224.62; the move was led by spot, with trading volume on Binance and Coinbase both more than doubling compared with usual levels, while the futures side was actually very quiet.
The reason is still the old September story: The Clearing House, formed by major U.S. banks, chose Quant as the interoperability layer for its tokenized deposit network, but the banks’ actual rollout will not come until 2027, and there was no new news this time.
I agree that a spot-driven move is healthier than one pushed by leverage. But if it is just a backtest of an old narrative, chasing highs can easily get you shaken out. 200 is the key level for this move; it has now slipped just below 200, and if the daily candle cannot reclaim it today, yesterday’s move looks more like a false breakout. Below that, watch the 10/24 low at 173.5.
I’m not chasing it here; I’ll wait for it to get back above 200 before taking another look. Would you wait for 200, or just wait for 173?
Binance referral code BRYANTTRADE
For more resources, please refer to the BIO on the homepage
Not investment advice. Investing involves risk.
#QNT #Quant #tokenizeddeposits #altcoins
$QNT is currently ranked #1 in the Binance Square trending searches. Between 5 PM and 8 PM yesterday (Taipei time), on Coinbase it climbed from 198 to 224.62; the move was led by spot, with trading volume on Binance and Coinbase both more than doubling compared with usual levels, while the futures side was actually very quiet.
The reason is still the old September story: The Clearing House, formed by major U.S. banks, chose Quant as the interoperability layer for its tokenized deposit network, but the banks’ actual rollout will not come until 2027, and there was no new news this time.
I agree that a spot-driven move is healthier than one pushed by leverage. But if it is just a backtest of an old narrative, chasing highs can easily get you shaken out. 200 is the key level for this move; it has now slipped just below 200, and if the daily candle cannot reclaim it today, yesterday’s move looks more like a false breakout. Below that, watch the 10/24 low at 173.5.
I’m not chasing it here; I’ll wait for it to get back above 200 before taking another look. Would you wait for 200, or just wait for 173?
Binance referral code BRYANTTRADE
For more resources, please refer to the BIO on the homepage
Not investment advice. Investing involves risk.
#QNT #Quant #tokenizeddeposits #altcoins