Assessing Quant Network Following 90% Price Surge and Substantial QNT Accumulation

Most cryptocurrencies recorded declines following the bloodbath that plagued the market during the previous quarter. Nevertheless, many of these digital tokens have presented recovery signs since 2022 Q3 started.

Meanwhile, Quant Network’s native QNT led the pack after gaining more than 90% since the month started. Let us evaluate the alt’s performance since the quarter began.

Price Analysis

QNT coin opened the month at $51.8. Meanwhile, the altcoin has gained more than 92% within the past 15 days. While publishing this blog, QNT traded high at $99.72. Moreover, the altcoin recorded some increase in market cap during the under review period.

The metric stood at $625.85M early in the month before an impressive 92% increase over the past 25 days. While writing these lines, QNT ranks 43rd on the Coinmarketcap crypto ranking, its market cap hovering at $1.20 billion.

Meanwhile, evaluating the asset’s performance within 24 hours revealed a different tale. The alternative token lost around 5% within a day. The bearish slides emerged after the alt hit the $107 highs during July 15’s intraday trading. Also, trading volume declined by 15.42% within the previous 24 hours.

The daily price chart placed the RSI (Relative Strength Index) at the overbought level of around 71.06. Also, the MFI (Money Flow Index) stood at 88, signaling substantial QNT accumulation within the previous 24 hours.

On-Chain Analysis

On-chain readings show QNT recorded some gains within the past 15 days. Nevertheless, the surges are unmatched by the astronomical price growth over the period. Unique addresses that interacted with QNT during the timeframe under review noted a 50% surge.

While publishing this blog, the network’s daily active wallets hovered at 1,834. Moreover, the QNT tokens in all completed transactions increased by 51% over the past 15 days. That shows an increase to $29.54M from $7.27M in USD terms.

Moreover, the past 15 days triggered a network QNT accumulation, with the Mean Coin Age taking a climbing slope. The index stood at 577 during this publication. The altcoin saw social traction during the timeframe under review. Its social dominance saw a 200% increase while social volume surged 122%.