Quant [QNT] traders, watch out for this before you get burned
According to data from the cryptocurrency analytics platform CoinMarketCap, Quant [QNT] has been a top performer in the last few weeks.
Ranked as the #30 largest cryptocurrency with a market capitalization of $2.07 billion, its price has rallied by 81% in the last six weeks.
The current spike in QNT’s price represents a move against the general cryptocurrency market. Per information from CoinGecko, the global cryptocurrency market capitalization has gone down by 6% within the last six weeks.
The recent rally in the QNT’s price has caused many of its holders to see gains in their investments. Data from the on-chain analytics platform Santiment showed the asset’s market-value-to-realized-value (MVRV) to be at its highest position in the last six months.
At press time, this was 88.14%, indicating that several QNT holders registered gains on their investments. On a 30-day moving average, the MVRV as of this writing was 24.89%.
As a result of the price rally and the resulting profitability of QNT holdings, the token has enjoyed a positive bias from its holders in the past few weeks.
According to data from Santiment, the asset’s weighted sentiment has been above zero since the end of September. At press time, this was 1.529.
Source: Santiment
Furthermore, due to the surge in QNT’s price, it has enjoyed enormous social coloration in the past few weeks. Since the end of September, QNT’s social volume has spiked to its highest levels in the last three months.
Well, the altcoin recorded a sharp decline in its supply held by top exchange addresses in the past two days. Between 20 July and 13 October, the QNT’s supply held by top exchange addresses had been 1.2 million.
This metric, however, declined sharply by 14 October to be pegged
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