Quant (QNT) price has increased by 29% in the last 7 days.
Quant (QNT) has hit a new 10-month high after breaking above $199 per unit early Monday.
Cryptocurrency pricing platform CoinMarketCap shows that the value of QNT, the native utility token of the Quant network, is among this week's gainers with an increase in its price of 29%This places QNT in third place among cryptoassets that have increased their value the most in the last 7 days, after HT and CSPR.
Source: CoinMarketCap
Quant's market cap has grown by 7% on Monday, surpassing $2.400 billion in market value. This has pushed Quant up the ranking, which now ranks as the 29th most capitalized cryptocurrency in the industry.
Quant also currently has a fairly high ROI (a metric indicating the highest return on investment) of 12.880%, according to the platform.
However, despite the increase in its value, the daily trading volume with this token has fallen almost 26% in the last 24 hours. At the time of writing this article, about $119,2 million dollars are moving in the market with QNT. Yesterday, the trading volume recorded with QNT was $167 million.
Why is Quant (QNT) price rising?
The constant and positive development that the Quant network has experienced this year seems to be driving its price in the market. The QNT token has been on an upward trend since mid-June, when its value was around $45 per unit.
According to CoinMarketCap data, QNT has grown by 340% since then and by 13,8% since January of this year.
Source: CoinMarketCap
Quant developers had announced in June the release of the first version of Tokenise, a tokenization solution designed to create and deploy interoperable tokens across the Ethereum, Polygon, and XDC networks. Prior to this, in April, they announced the Integration support for Polygon Network and Polkadot networks.
In August, the network developers informed the creators and users of Quant about the possibility of Minting NFT tokens using the QRC-721 standard in the Overledger API. QRC-721 tokens work like their Ethereum counterpart to the ERC-721 standard and can be deployed on supported Ethereum, Polygon, and XDC blockchains.
They have also released major updates and improvements to their Overledger platform, to support interactions with the Hyperledger Fabric network, as well as implement improvements focused on optimizing the functionalities, security and scalability of the project.
Quant present at Sibos 2022
The senior Quant network team was also present in Amsterdam for the annual Sibos 2022 conference, which brought together financial services leaders from around the world.
During this conference, the Quant team interacted with partners, clients and the community at large to unveil the project’s potential to transform and shape the future of finance. This was revealed by the project’s founder and CEO, Gilbert Verdian, during the conference.
On the other hand, recently the Quant developers opened a hiring process for an IT Support Engineer, a Developer Relations Manager, and an Agile Delivery Manager, making it one of the few projects in the crypto industry that are currently hiring new staff, despite bearish market conditions.
What is Quant?
Quant was born as an interoperable project that seeks to unlock the potential of blockchain to empower banks and financial institutions of the traditional system in this new technology.
In addition to promoting interoperability between chains, this project seeks to solve current financial problems to guarantee an interconnected financial future that is accessible to all, as well as sustainable.
Continue reading: 44% of the top 100 companies use blockchain amid growing crypto adoption
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