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Quant, the popular cryptocurrency project in the real-world asset tokenization industry, continued its recovery on Thursday.
Quant ($QNT) token rose to an intraday high of $97.40, its highest level since February 2nd and 30% above its lowest swing this month.
The token jumped after Oracle, the 19th-biggest company globally, unveiled its Oracle Blockchain Platform Digital Assets Edition. OBP DA is a new enterprise-grade solution designed to help partners build and deploy digital assets.
It simplifies the tokenization efforts by combining a bank-grade distributed ledger infrastructure with smart contracts. The platform is built using Quant’s Overledger technology, which enables cross-ledger operations and workflows.
Overledger is often seen as a better and more advanced alternative to Chainlink ($LINK) Cross-Chain Interoperability Protocol or CCIP. It enables the OBP DA to ensure atomic settlement with immediate finality and bridge the gap between blockchains.
This is a significant partnership because it showcases Quant’s technology on a large scale. Its success may also push more companies and organizations to embrace its technology.
Quant token also jumped as a user long-term Chainlink holder swapped his $LINK tokens for Quant, a sign that he expects it to do well over time.
🧿💥 $QNT I've never had a problem with $LINK as a project but some of their holders are very deluded.
— Mind Crypto 🍥 (@MindCrypto_) February 13, 2025
Maybe not this holder.
Sold 3789k $LINK and subsequently purchased 721 $QNT.
It is what it is. pic.twitter.com/svIbVCj6ie
Meanwhile, Quant balances on centralized exchanges continued falling, a sign that holders are not dumping. CoinGlass shows that there are 946,000 $QNT tokens on exchanges, down from last year’s high of 1.08 million tokens.
Quant price technical analysis
The daily chart reveals that the $QNT price soared to a high of $171.3 in 2024 and retreated to a low of $72.54 last week. It has bounced back and retested the crucial resistance at $95.57, the 61.8% Fibonacci Retracement level and its lowest swing in December and January. This is a sign that it has formed a break-and-retest pattern, a popular continuation sign.
Quant has also remained below the 50-day and 200-day moving averages and the Ichimoku cloud indicators. Therefore, while Quant has strong technicals, there is a likelihood that it will resume the downtrend, and possibly retest the support at $72.55.