The crypto market remains globally rather calm over the last 24 hours with a market up slightly on Monday. The global virtual currency market now stands at $923.32 billion, up 0.48% over the past 24 hours. The main crypto-currencies, such as Bitcoin, Ethereum or Cardana, are taking the opportunity to regain some color. the native token of the Quant network takes 28th place in the ranking of the largest market capitalizations in the crypto market. An opportunity to seize on this token? We reveal our analysis of cryptos.
A calm market after the inflation figures
The publication of inflation statistics in the USA does not seem to have had a significant impact on the crypto market at the end of last week. Satoshi Nakamoto’s virtual currency even seems to be benefiting slightly from the situation with a rise of 0.73% in the last 24 hours. With a course of $19,391, Bitcoin appears to be extending its status quo around the symbolic $20,000 mark for its fourth consecutive week.
The QNT token in 28th place!
In an article dated October 13, our editorial team already detailed the 3 reasons for which Quant (QNT) could exceed the 150 dollar mark in 2022! Only 4 days later, the target is already exceeded since the virtual currency is now trading at a price of 213.69 dollars (up 15.64% over the last 24 hours).
A sharp rise that allows the Quant network token (QNT) to gain ground in the crypto market by claiming the 28th place with a total market capitalization of $2.50 billion.
An extraordinary increase for 4 months!
Still unknown a few months ago, we can say that it is the real surprise of the crypto market of the last four months. The native token of the Quant network specializing in the interconnection of blockchains offers itself, in fact, an extraordinary jump of more than 450% in just four months. The rise has been even more spectacular since September 23, 2022as shown in the graph below.
With this new increase, the QNT token now ranks ahead of other renowned virtual currencies like Filecoin, Bitcoin Cash or even Algorand and it is now in a good position to overtake Monero, the privacy-focused cryptocurrency.
What is the Quant Network (QNT)?
Quant Network was founded in 2015 on the basis of technology “overledger” in order to facilitate interoperability between different blockchains. The QNT token is thus used to pay the connection fees for this technology. The network is capped at a maximum quantity of 14.6 million tokens.
The technical solution provided by the Quant network allows it to do well in an overall rather sluggish market. This is also the opinion of many investors like James Bull, who explains in a Tweet the reasons for the success of this token:
$QNT is the strongest bear market coin and the top performer over the last 6 months by far. That’s simply how it is. Why?
— James Bull (@MariusCrypt0) October 17, 2022
XRP in sharp decline: waiting for an agreement!
The virtual currency of Ripple : XRP, signs a new drop of 3.04% over the last 24 hours in a significant trading volume (1.35 billion dollars).
Last week was very gloomy for this cryptocurrency with a 9.70% drop in its price.
Almost 10% drop in XRP stock price over the last 7 days:
Profit taking for XRP?
This new tumble is nothing to worry about for the future of this crypto, however.. We are well above the annual low reached in June 2022 at $0.28557. Virtual currency has rallied a lot since last month.
Traders are above all awaiting a judicial resolution of the conflict currently between Ripple and the SEC (the official organization responsible for regulating the American financial market). The future of XRP is still uncertain due to this legal battle, but an amicable resolution remains perfectly possible in the course of the next few weeks, insofar as both parties have filed motions for summary judgment. the September 17, 2022which means that a trial is not necessary for judgment.
Signing a deal could significantly boost the stock price of this virtual currency and possibly propel it beyond the all-time high of $3.40.
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