The daily altcoin is up 130% in the past seven days, hitting a new all-time high amid a market storm
A little-known crypto-asset is on a parabolic run, making new all-time highs despite a lengthy market-wide correction.
According to CoinMarketCap, the altcoin quant (QNT) in question has risen from a seven-day low of $ 45.23 to an all-time high of $ 104.41. This step corresponds to an increase of 130.84% in just one week.
Quant is a network that aims to bridge and connect all other blockchains on a global level by using the so-called “Overledger Network”. According to the project, your goal is to create a network that functions as an ecosystem for the entire digital economy.
In one tweet Recently, popular analyst Credible Crypto highlighted QNT, noting that it is very unusual for the altcoin to rebound when the rest of the market corrects. According to him, QNT could be a sign of life in the altcoin market.
“Altcoins don’t usually hit all-time highs in the middle of a bear market. Yes, there are a few exceptions, but most of them don’t. Most altcoins peak within 30 days after BTC hits ATH, then crash and never recover. I doubt that more altcoins will move in line with QNT. “
Credible Crypto claims that QNT’s surge suggests that the crypto market has not really entered a bear market just yet.
“QNT reaches a new all-time high. If you need a clue that we are not in a bear market, here it is. An altcoin that never hit a new all-time high in the middle of a bear market. I bet we’ll see more of this move in other altcoins as the market recovers from this correction. “
QNT / USD 3-day chart | Source: Credible crypto
Quant has since fallen back and is currently trading at $ 88.77. This altcoin is up over 700% so far after opening at $ 11.04 in 2021.
According to Dailyhodl