Whale dormant for 3 years pours 'cold water' on Quant (QNT) 400% rally... Dumps as retail investors flock in.

▲ Cryptocurrency whale, Quant (QNT)/AI generated image

Quant (QNT) whale wallets, dormant for over 3 years, have begun to realize profits worth $10 million, taking advantage of a record-breaking surge of up to 400%. Analysts suggest that as short-term liquidity peaked due to positive news about cooperation in interbank payment infrastructure in the U.S., these whales transferred large volumes to exchanges to cash out.

U.Today, a virtual asset specialized media outlet, reported on September 29 (local time), citing on-chain data, that Quant wallets that had been inactive since 2023 recently transferred a total of $10 million worth of QNT to centralized exchanges following the interbank rally. One specific whale address sent 8,250 QNT (approximately $1.88 million) to Binance, while another large address gradually moved 34,200 QNT (approximately $8.05 million), splitting 9,000 QNT (approximately $2.12 million) to Coinbase and Kraken. These large-scale fund transfers were concentrated at a time when localized demand was at its peak, serving as an opportunity to realize profits without significantly impacting the market price.

The direct trigger for this Quant surge was the announcement of a technological partnership by The Clearing House (TCH), a private clearing house in the U.S. Speculative buying exploded instantly upon the news that TCH's payment system, which processes transactions worth $2 trillion daily, selected Quant as a technical partner for tokenized deposit integration. Coupled with Quant's tokenomics characteristic of an extremely limited total supply of 14.6 million units, the price soared directly from the $56-$74 range to a peak near $373, demonstrating a vertical increase of 250% to over 400%.

The sudden return of long-dormant whales is interpreted as a signal that expectations for further price increases have somewhat diminished. Some suggest that the wallets engaging in profit-taking might belong to insiders or long-term holders who see limited potential for further appreciation. Even if all exchange deposits are not immediately executed as sales, the mere fact that large holdings, tied up for years, have become available for market sale is noted as increasing short-term supply pressure.

Amid a sharp rally triggered by the massive positive news of institutional adoption, long-term investors' moves to cash out have surfaced. Market attention is now focused on whether the market can successfully absorb the $10 million worth of whale holdings that poured into exchanges after forming a peak at $373, thereby establishing a support level.

[Article Key Summary]

-Quant (QNT) wallets dormant for 3 years deposited $10 million worth of assets to major exchanges immediately after a 400% surge.

-The price surged to $373 on news of the U.S. private clearing house, which processes $2 trillion daily, selecting Quant as its tokenization partner.

-Whales engaged in phased profit-taking at the peak of liquidity, leading to a large volume of potential selling pressure on market supply and demand.

*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.*