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Quant Spikes 21% Amid Bitcoin, Ethereum Recovery As Analyst Points To Surge In Wallet Holdings

Quant QNT/USD recorded a 21% spike, making it the top cryptocurrency gainer in the past 24 hours, even as the overall market experienced a downturn due to the FTX FTT/USD collapse.

What Happened: QNT is trading at $117.59. The price has been decreasing since reaching a maximum price of $228 on Oct. 17. The decrease accelerated last week, in the aftermath of the FTX saga, causing a breakdown from the long-term $150 mark.

See More: Best cryptocurrencies to hedge against inflation?

This comes as Bitcoin BTC/USD and Ethereum ETH/USD showed some signs of recovery, rising 4.39% and 6.34% in the last 24 hours.

Greg Lunt, a cryptocurrency analyst on Twitter was quick to point out that in the last 236 weeks, 77,000 wallets were holding QNT, although this number has drastically increased. In the past week alone, QNT added 13,000 new wallets.

Price Action: At the time of writing, Bitcoin is trading at $16,728.73. Ethereum at $1,258.40, according to Benzinga Pro.

Read Next: If You Invested $1,000 In Bitcoin 1 Year Ago, Here’s How Much You’d Have Now

 

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