Cryptocurrency Quant is wildly popular on Bitvavo after an increase of 25% in 2 days
Bitcoin and many altcoins are struggling, but Quant has just made a big increase. And that attracts many Bitvavo users.
Quant (QNT) has made a striking increase in recent days and is now enjoying a lot of interest in the Bitvavo. This is the largest crypto exchange in Europe, founded in Amsterdam.
Quant is even more popular today than major powers such as Ethereum (ETH) and Solana (SOL). The course is now in good shape again, but strikingly enough, there is no clear driver behind the rally.
The crypto market has been faltering for a while now, but Quant hasn't been held back. In two days, the price shot from $178 to a peak of $223.
Yesterday, around 1:30 pm, the highest point was reached and then the price dropped a bit. But that should not spoil the fun, because Quant is still in much better shape than other currencies such as Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP).
Due to the nice price increase, Quant is in the interest of Bitvavo's more than 2 million active users. Over the past 24 hours, the coin has ranked third in terms of trading volume. More than 11 million euros have been spent in the currency, which is more than with Ethereum (ETH), Cardano (ADA) and Solana (SOL).
It's not the first time the Quant has stealed the show. At the end of September, the currency climbed from around 64 dollars to 371 dollars in a week, an increase of almost 480 percent.
Despite the upturn in recent days, Quant is still more than 40 percent below that peak. But the 2021 record is not much higher, while most other cryptos still have a long way to go to get to their highest price.
At that time, there was a clear engine behind the rally. The Clearing House, the payment company of the largest US banks, chose Quant as its technology partner for a network on which banks settle tokenised bank money. These are ordinary bank balances in the form of a digital token on a blockchain.
A clear bull flag can be seen on the daily graph. The pattern owes its name to its shape: a steep rise forms the flagpole, after which the course catches its breath in a narrow, slightly descending channel, the flag itself.
Zo’n adempauze wordt vaak gevolgd door een nieuwe klim en op dit moment lijkt de koers naar boven uit te breken.