Quant (QNT) Crypto Takes a Breather After Surging to New Yearly Highs
One of the only cryptocurrencies to have recently made new yearly highs is Quant (CRYPTO: QNT). Despite dipping 6.2% over the past 24 hours, as of 1 p.m. ET today, this token is actually up 11.7% year to date at the time of writing. That's a rather incredible feat, considering most tokens are down considerably (50% or more) on a year-to-date basis.
Quant's surge appears to be tied to interest in this project's Overledger technology, the first-ever operating system designed to allow blockchains to speak to each other. This technology is reportedly being looked at by central banks as useful for central bank digital currency (CBDC) development, a key hot-button topic right now. In fact, Quant wrote about Overledger's potential to be used in CBDCs in a detailed research paper on the topic.
Today's downside move is one we haven't seen in some time. For now, it looks as though this token is taking a breather after relatively consistent moves higher in recent weeks.
Source Fool.com
