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- 1 Quant coin has broken its downtrend at the end of October.
- 2 Quant coin has a maximum supply of 14,612,493 tokens.
- 3 The current trend is positive for the QNT coin.
Quant Network’s overledger blockchain project is an innovative solution that enables interoperability among different blockchains, paving the way for a more connected and decentralized world.
The project leverages the native token, Quant (QNT), to power a modular ecosystem of distributed ledger networks. With a maximum supply of 14,612,493 tokens, QNT is utilized to transact on various multichain applications (MApps) introduced by enterprises and blockchain developers alike on the Quant Network.
What Are The Use Cases For Quant?
The QNT token has several use cases, making it an essential component of the Quant Network ecosystem. It serves as a method of payment for apps and companies on the Quant platform, allowing developers and businesses to monetize their products and services.
Additionally, QNT can be staked or held for active participation within the Quant community, giving investors a way to support the network’s growth and development. The token is also used to pay platform fees and annual licenses, making it an indispensable tool for ensuring the sustainability and expansion of the Quant ecosystem.
Moreover, the QNT base architecture underpins QRC-20 tokens developed on the Quant Network’s Tokenize platform. This means that QNT holders can participate in the creation of new tokens, giving them a direct stake in the success of the network.
By bridging the gap between legacy systems and blockchain technology, QNT provides utility through seamless integration and support for multi-chain applications.
Technical Analysis and Prediction of the Quant Coin Price
The QNT coin price is trading at the level of $104 after coming above the first support level of $96.04. The bulls have had a grip on the price ever since the downtrend was broken at the end of October. However, the immediate resistance is at the level of $108, tested two times this month.
Moreover, the 50-day EMA is at the level of $98.4, while the 150-day EMA is at the level of $100. The RSI is currently at the level of 56, which is its neutral territory. In addition to this, the simple moving average of the RSI is at 57.
The QNT coin price prediction is bullish as the coin is seen surfing its 150-day EMA, and the RSI is on the verge of making a bullish crossover with its SMA.
Conclusion
Quant (QNT) is utilized to transact on various multichain applications (MApps) introduced by enterprises and blockchain developers. At press time, the coin has broken its downtrend as the bulls are ready for more green action.
Technical Levels
- Support Levels: $96 and $84
- Resistance Levels: $108 and $119
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.