Quant token surges 227% in a week as crypto majors decline

  • Quant surged 227.70% in seven days, outperforming Bitcoin, Ethereum and Dogecoin.
  • QNT rose from $66 to $358 and reached a $3.56 billion market capitalization.
  • Clearing House selected Quant to settle new tokenized-deposit transactions last week.

Quant (QNT) was the best-performing cryptocurrency over the past week, rising 227.70% from a low of $66 to a high of $358 and reaching prices last seen more than five years ago. Its market capitalization increased to $3.56 billion from $975 million in one week. The token powers Quant Network, an interoperable operating system designed to connect blockchains with traditional banking networks. The move followed news that the banking association and payments company Clearing House selected Quant to settle new tokenized-deposit transactions. Santiment reported that QNT new addresses reached 7,516 on Sep. 27, about 55 times the weekday average from Sep. 1 to Sep. 15, while active addresses reached 14,458, about 19 times that period's level. Bitcoin, Ethereum and Dogecoin declined as Treasury yields reached multi-year highs. At 12:30 a.m. EDT, QNT traded at $219.00, compared with $2,666.53 for Ethereum, $83,142.42 for Bitcoin and $0.09305 for Dogecoin.

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