one Ethereum (ETH)-based altcoins are up nearly 30% this week as they outperform both the crypto king and the overall digital asset market.
The interoperable Blockchain-Network Quant (QNT) has rallied over the past seven days, going from $103.14 on September 14 to $133.34 at the time of writing, up nearly 30%.
QNT is compared to the top crypto asset Bitcoin (BTC) and the total market cap of all crypto assets increased significantly as they increased by 3% and 4% respectively over the same period.
According to market research firm Santiment, trading activity surrounding quant has increased significantly over the past month and week, supporting the crypto-asset’s rise.
“Quant has recently reached the ranks of market capitalization climbed. Among the top 100 assets in crypto, it has the second-best returns over the past month and the best over the past week. Volume, daily active addresses and whale accumulation have supported the rise of QNT.”
Santiment further notes that traders currently buying QNT are retail investors and not those holding at least $1 million worth of digital assets who are doing the opposite and selling their tokens.
“If we look at the distribution of holders, we may find that retail owners seem to be the ones buying QNT. A larger group of holders, QNT millionaires, who hold up to $1 million worth of quant, do so [the] on the contrary, they discharge.”
Although Quant has seen a massive surge over the past week, it is still much lower than its current level all-time high from $311.72 reached in September last year.
Featured image: Shutterstock/Papapig
Source: Crypto News Deutsch