Quant (QNT) hit a five-year high of approximately $370 before retreating to around $205, representing a 260% weekly jump. The surge was primarily driven by the announcement of a partnership with The Clearing House for its On-Chain Money Initiative, along with the project’s integration into Murex MX.3 software used by 65 of the world’s 100 largest banks and its selection by the European Central Bank to test the digital euro. Popular trader Doctor Profit decided to sell his entire position, citing an uncomfortable environment with high funding rates suggesting overcrowded long positions and larger accounts selling privately while encouraging others to buy. QNT’s Relative Strength Index (RSI) climbed to nearly 100 before retracing to around 74, remaining in overbought territory and potentially signaling a short-term correction.
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