According to a report by Santiment, Quant (QNT) just recorded the largest number of whale transactions in 16 months. The on-chain analytics platform noted that 187 QNT transactions took place today, with a peak value of more than $100,000, the highest recorded by Quant Network since September 2021.
Quant Whale Soaring Activities
Source: Sentiment
Just a week ago, so did Santiment reported some level of whale activity on the Quant Network that caused the QNT token to increase in value by 10%. However, unlike today, the increase in whale transactions today has not produced any positive effects.
At the time of writing, the price of QNT has decreased by 1.18% in the last 24 hours, down to $112.71. According to other data by CoinMarketCap, the token’s 24-hour trading volume has also decreased by 24.38%. That said, Quant (QNT) remains the 32nd largest cryptocurrency with a market capitalization of $1,361,238,271.
What to Expect From Quant (QNT) In 2023?
Quant (QNT) is believed by many to be one of the most promising coins for 2023. Although the price of the token dropped by 40% in the previous year, Santiment tweeted reports that the total supply of QNT on the exchange has decreased by 23.4% in the same period.
This suggests the coin is experiencing increased demand in 2022 and could be set for a big price rally as the crypto market recovers in the coming months.
According to the price prediction by Bitnation, QNT can be traded up to $203.07 in 2023, representing 80.17% reliable in the current market price. The team also expects the asset’s average and minimum market prices to be around $169.22 and $135.38, respectively.
Coincodex, another popular crypto prediction site, also describes a positive outlook for the QNT token. According to the 2023 price prediction for the altcoin, the coin is expected to reach a value of $113.46 in five days and $135.39 in 30 days. In the next year, he believes that QNT can reach a market price of $175.27 if its growth pattern is similar to that of the internet.
However, it should be noted that all these predictions are not guaranteed, and QNT may even experience the opposite fate, since no entity can fully predict the movement of the crypto market due to its high volatility.
QNT is trading at $112.68 | Source: QNTUSD Chart on Tradingview.com
In recent years, Quant Network has expressed its intention to expand the ecosystem through the deployment of more projects, some of which have already been developed.
Quant also plans to introduce more updates to the Overledger blockchain, and additional developer solutions to help with the process of building and deploying blockchain projects. With all this, there is a lot to look forward to from Quant in 2023.