Cryptocurrency analysis company Santiment highlighted the significant amount of whale activity on the QNT network in a tweet. According to the company, 187 QNT transactions worth over $100,000 were made in one day, the highest number of whale transactions in 16 months.
“After the modest +10% price increase seen after the last whale activity spike on Dec. 30, Quant displayed a much larger amount of whale transactions on its network today. Today there are 187 QNT transactions worth over $100,000, which is the peak of the last 16 months.”
Quant’s history goes back to 2018, when it was first introduced as a blockchain platform designed to enable the creation and transfer of digital assets. The platform is based on the Ethereum blockchain and uses the ERC-20 token standard. One of Quant’s main goals is to provide a decentralized and scalable infrastructure for financial applications, including the creation of stablecoins and other digital assets.
In the years since its launch, Quant has gained a reputation as a popular and stable platform of choice for the creation and management of digital assets. The recent surge in whale activity on the network may be an indication of the growing interest and adoption of Quant by cryptocurrency investors.
Whale activity in the cryptocurrency market is often seen as a bullish sign as it indicates that large investors are confident in the asset and are willing to make significant purchases. This, in turn, can increase the demand for cryptocurrencies, increasing its price. On the other hand, if whale activity is watching with large sell-offs, it could be seen as a bearish sign as it indicates that large investors have lost confidence in the asset and are looking to sell it. As a result, the impact of whale activity on the market depends on the specific actions of these major investors and the overall market sentiment.