Qtum Price Rises 160%, Project Focus on DeFi Pays Off

On May 7, the QTUM price reached an all-time high of $35.70. After bitcoin dropped to $47,500 on April 23, QTUM underwent a 52% correction in 4 days before reaching a bottom at $10. However, the altcoin situation improved on May 5. QTUM rose 160% in two days, peaking at $35.70. At the time of this writing, the price of QTUM was $20.10.

The main goal of the open source platform is to provide simple tools that anyone can use to build decentralized applications (dApps) while maintaining a high level of network security.

While the Qtum blockchain has a governance system within the network, it also has an autonomous process for approving and handling larger protocol changes. The protocol recently identified decentralized finance (DeFi) as a priority area and steps to attract new projects. This strategy seems to be paying off at last, as daily network transactions peaked on May 6.

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