Where Does Quant Network Stand Amid A 90% Price Rally And Significant Accumulation Of Qnt?

Within the final quarter, the massacre that hit the cryptocurrency market led the costs of many crypto property to submit declines. For the reason that starting of Q3 2022, quite a lot of these crypto property have proven indicators of restoration. With over a 90% value rally for the reason that starting of the month, Quant Network’s QNT token has taken the lead. Let’s take a better take a look at the token’s efficiency for the reason that starting of the quarter.

Worth-performance evaluation

Initially of the month, the QNT token logged an index value of $51.8. Within the final 15 days, the value of the QNT token shot up by over 92%. On the time of writing, the value per QNT token was pegged at $99.72. 

Within the interval below evaluate, the token additionally registered some progress in its market capitalization. Standing at $625.85 million at first of the month, a 92% progress was additionally recorded within the final 15 days. At present ranked quantity 43 on CoinMarketCap’s rating of crypto property with the biggest market capitalization, on the time of writing, QNT’s market capitalization stood at $1.20 billion. 

An evaluation of the token’s efficiency within the final 24 hours nevertheless, instructed a distinct story. The QNT token posted a 5% decline in value. The bearish correction got here after the token touched a excessive of $107 per QNT token throughout intraday buying and selling on 15 July. Buying and selling quantity additionally noticed a 15.42% decline within the final 24 hours. 

On the every day chart, the Relative Energy Index (RSI) was noticed within the overbought area of 71.06. Equally, the Cash Circulate Index (MFI) marked its spot at 88. This confirmed {that a} vital accumulation of QNT tokens has been underway prior to now 24 hours. 

Supply: TradingView

On-chain evaluation

On-chain information revealed that the QNT token noticed some good points within the final 15 days. Though, these good points are incomparable to the astronomical progress in value throughout the identical interval. 

The variety of distinctive addresses that traded QNT tokens throughout the interval below evaluate noticed a 50% progress. On the time of writing, every day lively addresses on the community stood at 1834 addresses. Additionally within the final 15 days, the combination quantity of QNT tokens throughout all transactions accomplished rose by 51%. Valued in USD, this grew from $7.27 million to $29.54 million. 

Supply: Santiment

Moreover, within the final 15 days, a network-wide accumulation of QNT tokens was noticed because the Imply Coin Age took on a rising slope. On the time of writing, the index for this was pegged at 577.

Supply: Santiment

Socially, the token noticed traction within the interval below evaluate. Its social dominance has grown by 200% and the social quantity additionally recorded a 122% uptick.

Supply: Santiment

 

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