The endorsements from renowned tech firms and a successful Coinbase listing saw QNT defying the bearish market outlook, rallying 125%.
When you want to evaluate where given crypto will be in the future, real-world uses and the delivered value are vital features. That is also true in fading markets where the assets have low sentiments with a possibility to extend a bearish attitude.
Quant is a cryptocurrency project that has gained momentum in the last month regardless of the market downtime. It focuses on interoperability, aiming to help businesses implement and run DLT (distributed ledger technology).
According to TradingView and Cointelegraph Markets Pro data, QNT saw its price surging over 125% following a slight drop on 22 June that saw the crypto trading $44 as the overall crypto market experiences sell-offs. As a result, QNT traded at a new high of $99.11 on 25 June.
Coinbase Listing Effect
Coinbase pro listing played a role in the sudden QNT price turnaround. The platform started accepting the asset’s deposits on 23 June.
QNT noted its upticks since 24 June as Coinbase Pro allowed trading through limit orders. Moreover, the coin’s addition to the Coinbase front-side that includes iOS and Android apps on 25 June boosted the asset in price and trading volume.
Before the market drop and Coinbase listing, QNT saw increase traction since 14 June after the platform released its mid-year tech update, Overledger 2.0. According to the project’s official website, the update is vital in the system upgrade, delivering interoperability in various systems, DLTs, and networks.
The update has received consideration from renowned sources such as Oracle, a cloud infrastructure firm, and Deloitte, a services network.
VORTECS Stats Turned Bullish before the QNT’s Rally
According to Cointelegraph Markets Pro, VORTECS data noted a bullish move for the asset on 22 June, before the recent surges.
The VORTECS score is a programmed comparison between current and historic market conditions drawn from combining various data points, including Twitter activity, trading volume, market sentiment, and recent price changes. According to the stats, Quants VORTECS score was 71 as of 22 June, followed by the 125% rise in the next few days.