Overheated Vibes Could Sting Soon 🖤
One trader however decided to lock in his gains. Doctor Profit said the rally has been impressive but he is not comfortable holding the token at these levels and highlighted the high funding rate which suggests many traders are betting on further upside. Doctor Profit said he would rather be open about taking profits even if QNT continues to climb after his exit. The token Relative Strength Index also shows how overheated the move has become. The indicator briefly climbed close to 100 before falling back to around 74. It remains in overbought territory which means that QNT could face some short-term pressure after its steep climb.Just another echo from the void by iconofsin.eth 💖
QNT just exploded outta nowhere n became the hottest thing in the altcoin scene after linking up with The Clearing House fr. Its price shot up nearly 400% from $74 to $357 in under a week.
Whales Diving Deep Now 🐋
While it cooled off down to $241 rn there is way more bubbling underneath than just some quick hype driven spike tho. According to data shared by Santiment around 645 QNT whale transactions worth at least $100000 were recorded on September 28th. This was the highest level ever seen on its chart. The analytics firm explained that while continued whale activity is encouraging cooling prices and consolidation would create a healthier setup than another straight-line surge. The rally followed The Clearing House announcement that it had selected Quant to power its On-Chain Money Initiative. The project is being developed to help financial institutions clear and settle transactions involving tokenized deposits. The Clearing House operates payment networks that process more than $2 trillion in transactions each day. Quant role gives QNT a clear institutional-use narrative which appears to have attracted traders looking for exposure to blockchain infrastructure tied to traditional finance. The network is expected to become available to participating institutions in the first half of 2027. Still the announcement was enough to move the market but that is not the most interesting part. The biggest rush in on-chain activity did not happen immediately. Santiment found that QNT recorded just 351 new addresses on the day of the announcement. By September 27 that number had jumped to 7516. Active addresses followed the same pattern rising from 2064 to 14458 over the same period. That is a huge jump in just a few days. Open interest also exploded. Dollar-denominated open interest increased almost nine times between September 23 and 27. Measured in QNT open interest rose about 2.2 times. Much of the dollar increase therefore came from its rapidly rising price. There was also no obvious new announcement on September 26 or 27 to explain the sudden wave of activity. The market simply appeared to catch up with the news a few days later Santiment added.Overheated Vibes Could Sting Soon 🖤
One trader however decided to lock in his gains. Doctor Profit said the rally has been impressive but he is not comfortable holding the token at these levels and highlighted the high funding rate which suggests many traders are betting on further upside. Doctor Profit said he would rather be open about taking profits even if QNT continues to climb after his exit. The token Relative Strength Index also shows how overheated the move has become. The indicator briefly climbed close to 100 before falling back to around 74. It remains in overbought territory which means that QNT could face some short-term pressure after its steep climb.Just another echo from the void by iconofsin.eth 💖
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