Quant Is Up By 13.57% – Time To Buy QNT?
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The QNT Coin of the Quant Network appears to be one of the biggest movers this week. Investors who specialize in picking altcoins might want to buy QNT and ride this wave now. In this article, we will explore the ins and outs of the Quant Network and why you should consider buying QNT.
Quant: First OS To Be Built For Blockchains
Created by blockchain expert Gilbert Verdian in 2018, the Quant Network seeks to enable interoperability across the blockchain industry.
The blockchain platform allows the creation of decentralized multi-chain applications (known as MApps) on its blockchain. MApps enable decentralized applications to operate on multiple blockchains at once.
Quant Network has an Overledger OS blockchain operating system used for connecting different public and private blockchain networks. It has been dubbed as the first OS to be built for blockchains.
Overledger is the backbone of the Quant Network. It enables developers to build decentralized multi-chain applications (MApps). It ensures communicability by creating different layers for apps to interact at different levels.
Although Quant network is focused on enterprise blockchain services, it is working on integrating multiple cryptocurrency blockchains into its Overledger Network.
QNT is the Ethereum-based token that is used to power Quant Network’s Overledger brand of enterprise software solutions.
QNT Token Price Continues To Move Upwards
The QNT token has performed incredibly well this year. It skyrocketed from about $11.04 at the beginning of the year to a record price of $92.64 by June 24.
Although QNT dropped to $68.16 on July 16, the token recovered shortly after and began to climb upward till it reached its all-time high (ATH) price of $191.69 earlier this month. QNT declined again to $153.23 a few days ago. However, the asset has regained its bullish momentum and is up 13.57% in the last 24 hours.
QNT is currently trading at $178.11 and has a market cap of $2 billion. Investors who want to buy QNT may want to do so now. The tokens have a capped maximum supply making it an attractive choice for investors seeking assets that offer protection against inflation risk.
QNT Technical and Fundamental Analysis
This recent rally has seen QNT gain momentum rapidly. The digital asset is trading above the 20-day moving average (MA) support at $159.345, signaling a bullish trend. Its 200-day MA support price of $175.4 indicates that the bulls would likely control QNT price for some time.
This bullish run is again confirmed with the relative strength index (RSI) heading to the overbought region at 70.49. This shows that more investors want to buy QNT.
Analysts at Wallet Investor believe that the QNT token would continue to surge in price. The forecast website predicts that QNT will rise to $271.05 by year’s end and $733.46 in the next five years.
Popular prediction site Digital Coin shares the belief that the long-term potential of the QNT token is bullish. The site states that the asset would trade at $319.39 at the end of the year and $635.02 in five years.
Quant’s business model continues to look attractive by the day as it focuses on solving the problems that persist in the crypto industry. The network has been rolling out upgrades of its Overledger technology.
It already released an upgrade of this technology in June this year called Overledger 2.0. The latest update, Overledger 2.0.4, was introduced earlier this month. The upgrade provides enhanced search capabilities of MApps and user access to newer features needed when interacting with the blockchain
