Quant

Bitcoin

Spot

The price of Quant (QNT) is down nearly 5% in the past 24 hours amid the broader crypto market weakness that has Bitcoin trading near the $65,000 level. 
While BTC and other top cryptocurrencies struggle amid current market reaction to macroeconomic conditions, Quant has an extra layer of downside pressure after a whale moved over 118,000 QNT tokens to the Kraken crypto exchange. 
QNT, which traded at highs of $102 on May 21, is currently hovering at $79.85, with bulls under pressure that could see bears retest lows last seen in June 2022. 
<h2 class="wp-block-heading" id="quant-whale-moves-118k-qnt">Quant whale moves 118k QNT</h2> 
According to <a href="https://x.com/spotonchain/status/1802556537531162760" target="_blank" rel="">data from Spot On Chain</a>, a whale that had received Quant tokens six years ago moved 118,009 QNT tokens to Kraken. The value of the tokens at the time was $9.76 million. 
Lookonchain also <a href="https://x.com/lookonchain/status/1802538043074871358" target="_blank" rel="">shared</a> the whale’s transfer, noting that the wallet recently sold 8,050 QNT tokens as price reached $92. That transaction coincided with an 11% dip for QNT price. 
Having not sold during the 2021 bull market, the whale’s decision to cash in now means they missed the opportunity for a $130 million windfall.&nbsp;&nbsp; 
“Six years ago, the address accumulated 326K $QNT, valued at just $200K at the time, and remained inactive for 6 years. It notably missed the 2021 uptrend, which could have brought its peak value to $130M—a 650x increase,” Spot On Chain posted on X. 
In 2021, Quant price rose to a bull market peak of $427. Today’s value is about 81% down as bearish pressure mounts. 
<h2 class="wp-block-heading" id="92-of-quant-addresses-currently-in-loss">92% of Quant addresses currently in loss</h2> 
Data from IntoTheBlock <a href="https://app.intotheblock.com/coin/QNT/quick-view" target="_blank" rel="">shows</a> that addresses that bought QNT between $59.22 and $98.17, only 20% are in profit at current prices. Nearly 57% are under water while 23% are at the money. 
Zooming out to all addresses that currently hold QNT, on-chain data shows nearly 92% are in loss with price below $80.22.

Quant price dips as whale makes major move

Table of Contents

crypto.news

Other articles published on Jun 17, 2024

ERAGON Passport Lucky Wheel: Your Ultimate Guide to Winning $500

Crypto chief bids SEC farewell after 9 years of service

Shiba Inu Whales Disappear as SHIB Price Seeks Direction on Market

Is Bitcoin set for a rally? Insights from key levels

AVAX Holders Turning To Memecoins, As IO And $RABT Show Why They Are Top Coin Picks Of 2024!

Crypto: Here are the Dangers of Ethereum’s Pectra Update!

Join our free newsletter for daily crypto updates!