The price of cryptocurrency QNT skyrocketed nearly 400%, rising from $74 to $357 in less than a week after The Clearing House announced on September 24 that it had chosen Quant for its On-Chain Money Initiative. Although the price subsequently corrected to $241, there is more behind this movement than just a news effect. According to data from Santiment, about 645 transactions involving QNT worth at least $100,000 were recorded on September 28– this is a record value for this indicator. The analytics company noted that while the activity of large holders looks promising, "price cooling and consolidation will create a healthier situation than another sharp rise."
Following the announcement from The Clearing House, which processes payment networks worth over $2 trillion a day, interest in QNT surged. The company's involvement in this initiative offered a clear "institutionally usable" direction for QNT, attracting traders eager to access blockchain infrastructure linked to traditional finance. The network is expected to become available to participants in the first half of 2027. Network activity also spiked sharply. The number of new addresses for QNT on September 27 increased from 351 to 7,516, and active addresses– from 2,064 to 14,458. Open positions on dollar contracts increased nearly ninefold between September 23 and 27, while open positions in QNT grew by approximately 2.2 times.
However, one trader, Doctor Profit, decided to lock in profits, noting that while the rally is impressive, he does not feel comfortable holding the token at the current level. He highlighted the high level of funding, implying that many traders are betting on further growth. The Relative Strength Index (RSI) for QNT also indicates that the asset has become overheated, as it reached nearly 100 and then fell to 74, remaining in the overbought zone, which means QNT may face short-term pressure after the sharp rise.
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