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According to a report by Santiment, Quant (QNT) has just recorded its largest amount of whale transactions in 16 months. The on-chain analytics platform noted that 187 QNT transactions were executed today, culminating in a value of over $100,000, the highest the Quant Network has recorded since September 2021.
Quant Whale Activity Soaring
Source: Santiment
Just over a week ago, Santiment had also reported some level of whale activity on the Quant Network that caused the QNT token to boost in value by 10%. However, unlike then, the massive increase in whale transactions today is yet to produce such positive effect.
At the time of writing, the price of QNT has decreased by 1.18% in the last 24 hours, falling to a value of $112.71. According to more data by CoinMarketCap, the token’s 24-hour trading volume has also declined by 24.38%. That said, Quant (QNT) remains the 32nd largest cryptocurrency with a market cap value of $1,361,238,271.
What To Expect From Quant (QNT) In 2023?
Quant (QNT) is believed by many to be one of the most promising coins for 2023. Although the token’s price dropped by 40% over the previous year, Santiment tweeted a report stating that QNT’s total supply on exchanges had decreased by 23.4% within the same period.
This indicates the coin experienced an increased demand in 2022 and could be set for a massive price rally as the crypto market recovers in the coming months.
According to price predictions by Bitnation, QNT could trade as high as $203.07 in 2023, indicating a plausible 80.17% on the current market price. The team also anticipates the asset’s average and minimum market prices to be around $169.22 and $135.38, respectively.
Coincodex, another popular crypto prediction site, also paints a positive outlook for the QNT token. According to their 2023 price predictions for the altcoin, the coin is expected to attain a value of $113.46 in five days and $135.39 in 30 days. In the next one year, they believe QNT could hit a market price of $175.27 if its growth pattern mirrors that of the internet.
However, it is worth noting all these forecasts are not guaranteed, and QNT could even suffer the opposite fate, as no entity can fully predict the movement of the crypto market due to its high volatility.
QNT trading at $112.68 | Source: QNTUSD Chart on Tradingview.com
Going into the new year, Quant Network has already stated its aims to expand its ecosystem through the deployment of more projects, several of which are already under development.
Quant also plans to introduce more updates to the Overledger blockchain, and additional developer solutions to aid the process of building and deploying blockchain projects. Going by all this, there is quite lot to expect from Quant in 2023.