Quant (QNT) Price Jumps 10% after SEC’s Historic Decision

Key Highlights

• Quant (QNT) price has soared by 10%, helping it to climb from $69.89 to $76.89 with bullish momentum 
• The rally in QNT occurred after the SEC announced that it would allow Nasdaq to support the trading of tokenized shares
• The price surge in the QNT was seen amid the correction in the crypto market after the Federal Reserve revealed its decision to hold interest rates steady in the recent FOMC meeting 

On March 19, Quant (QNT) price experienced a rally with a 10% jump despite the correction in the overall crypto market, including Bitcoin, which dropped below $70,000. 

The rally in Quant (QNT) has helped the cryptocurrency to soar from $69.89 to $76.89, with a market capitalization of $927.95 million, according to CoinMarketCap. 

Along with the jump in the Quant price, the daily trading volume also increased by 117%, helping it to reach $32.20 million. 

Quant (QNT) Price Surges After SEC Shows Openness to Trading Tokenized Assets

The price movement came during the downward momentum in the crypto market and after theSecurities and Exchange Commission approved Nasdaq rules on March 18. It will allow trading of tokenized securities alongside traditional stocks despite backlash from trading groups.

This major regulatory development has boosted investors’ confidence as they are seeing it as a major event for blockchain-based assets because it opens the door for real-world assets like stocks and exchange-traded funds to be integrated on digital ledgers while staying in line with compliance requirements.

However, the crypto market is facing selling pressure after a weekly rally due to macroeconomic factors. On March 18, the Federal Reserve declared its decision to hold interest rates steady between 3.5% and 3.75% because of growing inflation and the global energy crisis due to the war between Israel, the U.S., and Iran. The biggest cryptocurrency, Bitcoin (BTC) has plunged by over 2% on a daily chart, while Ethereum also witnessed a similar drop. 

The growing trading activity is showing that buyers have taken place quickly after major developments in regulations. 

Technical indicators like RSI, MACD, and others are justifying the technical factors behind the rally in the QNT price. The Relative Strength Index (RSI) is currently revolving around the 68 to 72 range. This indicates a good buying interest without reaching overbought levels, so the token still has room to grow before any pause. 

The Moving Average Convergence Divergence is showing a good buying setup because its lines are growing above the zero mark. This shows the upward momentum in the cryptocurrency in the short term. According to Tradingview, the QNT is now trading above its 50-day and 200-day moving averages, with the shorter-term lines heading upward. These averages are working as reliable support lines that confirm the bullish momentum.

The SEC approval for Nasdaq tokenized securities trading will allow high-volume stocks from the Russell 1000 index and major exchange-traded funds to trade as digital tokens on the same order book as traditional shares, with settlement executed through the Depository Trust Company. This will create a regulated on-ramp for real-world assets to go live on blockchain. 

Quant will play a major role in the book of tokenization because its Overledger operating system connects more than 45 different blockchains in a secure way that allows banks and companies to issue and move tokenized assets across networks without using risky bridges, which often become a soft target for hackers.

Also Read: Ethereum Price Drops 6% Amid Rising Leverage and ETF Outflows