Bitcoin Stumbles...Quant (QNT) Rises Alone, Driven by US Bank Payment Network Adoption

▲ Quant (QNT)/Source: X

While major virtual assets such as Bitcoin (BTC) and Dogecoin (DOGE) collectively entered a consolidation phase, Quant (QNT) surged by 227% in just one week, capturing the market's attention. This occurred even as major coins experienced corrections due to the sharp rise in US Treasury yields, with analysis suggesting that news of a massive collaboration with traditional bank payment networks attracted explosive buying.

According to Benzinga, a US financial media outlet, on September 29 (local time), Quant soared over 227% in the past week, from a low of $66 to a high of $358. Quant's market capitalization, which instantly recovered to its 5-year high, more than tripled from $975 million a week ago to $3.56 billion. Quant is the core token of the Quant Network, an interoperability operating system that connects different blockchains with traditional bank financial networks.

Quant's explosive rally was triggered by its integration with traditional financial infrastructure. The news that The Clearing House, a major US bank-backed payment organization, selected Quant as its new tokenized deposit transaction payment network acted as a decisive catalyst for the surge. With Quant Network technology officially adopted into the tokenized deposit clearing and settlement system being pursued by the banking sector, its value as institutional-grade infrastructure was instantly highlighted.

On-chain data also clearly demonstrated the explosion of liquidity flowing into Quant. According to Santiment, an on-chain analytics firm, the number of newly created wallets on the Quant Network reached 7,516 as of September 27, a 55-fold increase compared to the average weekday in September. On the same day, the number of active wallets also increased 19-fold to 14,458, indicating a concentrated influx of buying from institutional and individual investors on-chain.

In contrast, major virtual assets uniformly declined over seven days as US Treasury yields surged to multi-decade highs. Bitcoin fell 2.7% last week, recording $83,142.42, and Ethereum (ETH) dropped 2.3% to $2,666.53. Dogecoin, in particular, plummeted 9.3% to $0.09305, hit by a wave of profit-taking.

While major virtual assets remained stagnant, trapped by macroeconomic tightening pressures, Quant's differentiated rally, securing a practical traditional banking infrastructure, dominated the market. Amid short-term profit-taking volatility, market attention is focused on whether Quant can continue to absorb long-term institutional liquidity, leveraging its first-mover advantage in the tokenized deposit payment network.

[Key Article Summary]

-Quant (QNT) surged 227% in one week, from $66 to $358, exceeding a market capitalization of $3.56 billion.

-The selection of Quant by The Clearing House, a major US bank-backed payment organization, as its tokenized deposit payment network was a key factor.

-While Bitcoin (BTC) and Dogecoin (DOGE) declined due to surging Treasury yields, Quant's on-chain active addresses surged 19-fold.

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