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    Quant Network (QNT): 3 February Price Digest 

    Quant Price Digest: 3 February

    After the previous periods of consolidation, the markets again found themselves in a red zone. QNT managed to evade the wave, rising as much as 25% in the session. On February 3, at 11:14 AM, the price was $143.

    The four-hour chart shows that QNT has been rising over the past few days. After the price of the coin found strong support at the key support level at $86, a rebound began. It accelerated after moving above the descending trendline shown in black.

    The price of the coin rose above the 25-day and 50-day moving averages. This is a positive signal and a sign that the bulls prevail. Therefore, the probability of continuation of the bullish trend of the Quant price is high. In this case, the next key resistance level would be $160.

    What is Quant? 

    One of the main problems with the widespread adoption of the blockchain is the lack of interoperability and compatibility. Quant project aims to solve this problem by allowing different DApps to exchange information with each other, even if it is stored on different distribution registries. This allows developers to create multi-blockchain applications (MApps) and work across multiple blockchains.

    QNT is based on Ethereum network and is an ERC-20 coin. The main purpose of the coin is to act as a means of payment in the ecosystem, allowing users to pay for the transfer of data between different blockchains, and access for developers to tools for creating MApps.

    QNT is an invariable part of the entire ecosystem, which is needed both by developers of decentralized products and those who plan to implement them in their businesses and projects. This creates a natural high demand for the QNT cryptocurrency, which, according to analysts, will cause even more coin growth in the future. 

    Perhaps the reason for the current rise in the price of the token is the growing interest from central banks in central bank digital currencies (CBDC).

    For example, this week, India's central bank announced plans to set up its own CBDC. The possibility of using CBDC is also considered by the central banks of the USA, Nigeria and Sweden.

    Quant offers a solution known as Multi-Ledger Tokens (MLT). It allows central banks to issue their own fiat-based stablecoins. Under this model, funds are held in escrow and tokens of the same value are issued in a private DLT.

    Just yesterday, February 2, Quant provided interoperability between DLT and other networks. This achievement could also be a catalyst for price growth. End-to-end DLT access is required for consortiums and companies that want to connect to more than one DLT. It can be used in cross-border supply chains.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.

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