Quant may derive significant growth from supporting governments’ CBDC developments. As such, its native cryptocurrency QNT might benefit although this will likely be in the long-term.
The potential implication is that Quant’s involvement in CBDC development may contribute to robust demand for its services. If that turns out to be true, then we can expect to see a surge in liquidity flowing into the Quant network, backed by real-world utility.There is no doubt that Quant may derive significant growth from supporting governments’ CBDC developments. As such, its native cryptocurrency QNT might benefit although this will likely be in the long term.
Quant’s short term outlook remains bleak. On-chain metrics reveal a lack of excitement in the crypto market in the last few weeks. For example, its volume was trading within the same range, with the last spike observed just before mid-April.Additionally, whale holdings have been relatively stable in the last 3 weeks as indicated by the lack of change in the supply held by top addresses. However, some change is expected considering QNT’s latest performance and current position.
was on an overall downward trend since the last week of January. It has extended the same trend in the first 10 days of May and it is now trading at a noteworthy support range.The current market conditions underscore low demand hence there is a chance that QNT might break below the support. It still has some room before entering into oversold territory.On the other hand, there was increased activity in the last three days. Active addresses have been increasing since 7 May.
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