According to a report by Santiment, Quant (QNT) just recorded its highest number of whale transactions in 16 months. The on-chain analytics platform noted that 187 QNT transactions were executed today, resulting in a value of over $100,000, the highest the Quant Network has recorded since September 2021.
Quant whale activity soaring
A little over a week ago, Santiment had also reported some level of whale activity on the Quant Network, causing the QNT token to gain 10% in value. In contrast to that time, however, the massive increase in whale transactions does not have such a positive effect today.
At the time of writing, the price of QNT is down 1.18% in the last 24 hours, falling to a level of $112.71. According to additional data from CoinMarketCap, the token’s 24-hour trading volume is also down 24.38%. However, Quant (QNT) remains the 32nd largest cryptocurrency with a market cap value of $1,361,238,271.
What to expect from Quant (QNT) in 2023?
Quant (QNT) is considered by many to be one of the most promising coins for 2023. Despite the token’s price falling 40% year-on-year, Santiment tweeted a report stating that QNT’s total supply on exchanges fell 23.4% over the same period.
This indicates the coin has seen increased demand in 2022 and could be set for a massive price rally if the crypto market recovers in the coming months.
According to Bitnation price predictions, QNT could trade as high as $203.07 in 2023, indicating a plausible 80.17% of the current market price. The team also anticipates that the asset’s average and minimum market price will be around $169.22 and $135.38, respectively.
Coincodex, another popular crypto prediction site, is also drawing a positive outlook for the QNT token. According to their 2023 price predictions for the altcoin, the coin is expected to reach $113.46 in five days and $135.39 in 30 days. They believe that QNT could achieve a market price of $175.27 next year if its growth pattern mirrors that of the internet.
However, it is worth noting that all these forecasts are not guaranteed and QNT could even suffer the opposite fate as no company can fully predict the movement of the crypto market due to its high volatility.
QNT is trading at $112.68 | Source: QNTUSD chart on Tradingview.com
At the beginning of the new year, Quant Network has already stated its goals to expand its ecosystem by deploying more projects, some of which are already in development.
Quant also plans to release more updates to the OverledgerBlockchain and introduce additional developer solutions to support the process of creating and deploying blockchain projects. With all that said, there’s a lot to look forward to from Quant in 2023.
Source: Crypto News Deutsch