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▲ Quant (QNT)/Source: X
Quant (QNT) surged over 28% in a single day, dominating the virtual asset market which had remained flat. The announcement of a major institutional partnership to support the US banking sector's tokenized deposit network served as the direct driving force behind the rise.
According to CoinMarketCap, a cryptocurrency market data aggregator, on September 25 (local time), QNT recorded a 28.1% increase over the past 24 hours, reaching $90.09. Quant announced on September 24 that it had partnered with The Clearing House (TCH) to provide interoperability technology for the 'On-Chain Money Initiative,' which supports tokenized deposits for US banks. TCH is a payment infrastructure that processes approximately $2 trillion in transactions daily.
This collaboration acted as a key catalyst for QNT's surge, as Quant's enterprise interoperability technology will be utilized in regulated high-value payment infrastructure. The market considers future actual implementation schedules and the expansion of participating banks as subsequent variables.
Altcoin rotation and technical breakthroughs also contributed to the price increase. The Altcoin Season Index rose by 17.78% over the past week, and QNT broke through key moving averages. Trading volume also surged by 187% to 35.92 million, indicating strong buying pressure. However, the 14-day Relative Strength Index (RSI) climbed to 87.87, entering an extremely overbought zone, suggesting potential for increased short-term volatility.
In the short term, the 23.6% Fibonacci Retracement level of $86.08 has been presented as a key support level. If QNT maintains this price, the 161.8% Fibonacci Extension level of $104.26 is considered the next major resistance. Conversely, if it falls below $86.08, there is a possibility of a correction to the $77.96-$80.47 support zone. Maintaining above-average trading volume and defending the $86 mark after the initial positive news will be a critical factor in determining whether the upward trend continues.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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