According to price data, QNT was trading at $77.02 at the time of writing. The altcoin reached an intraday peak of $77.77, outperforming its weekly low by 37.5%. The weekly low was recorded at $56.54. This strong rise also parallels the general rise in the broader altcoin market.

This increase in value of QNT is thought to be closely related to Quant CEO Gilbert Verdian’s announcement of new staking capabilities on the Overledger Network. According to the statement made by Quant, the updated Terms and Conditions include the staking feature.

This innovation increases the use of QNT, encouraging long-term retention by token holders and at the same time reducing the supply of tokens in circulation. Staking is known as an effective method to increase the value of a token, especially in the cryptocurrency market, because holders hold their tokens with the expectation of long-term gains, which restricts the market supply.

This strategic update not only offers potential rewards to token holders, but also positions QNT more at the center of the Quant network. This increases the intrinsic value of the token, attracting more investors.

In particular, the fact that staking encourages long-term holding of the token and reduces the supply can put positive pressure on the price. Investors see this situation as both an increase in demand and a decrease in supply and consider it as an opportunity for future price increases.

Quant’s structure, which allows developers to create decentralized multi-chain applications by providing seamless connections between blockchain networks, offers an important solution in interoperability. This feature is considered an important step towards creating a more integrated digital economy.

Another factor supporting QNT’s price increase is large investors, that is, ‘whales.’ Whales accumulated QNT by taking advantage of purchasing opportunities during periods when the token lost value. According to FishTheWhales data, a significant increase in whale transactions has been observed, indicating that investor confidence is increasing.

Into The Block data also shows a significant increase in net flows from large holders. From early to mid-September, the net flow of these investors increased from -3.1k QNT to 7.42k QNT. This is considered an indication that major investors have increased confidence in the token.

Additionally, there was a 37.2% increase in the number of addresses holding QNT for more than a year, reaching 102.9k. This increase in the number of long-term investors is also supported by the 87.4% increase in open interest in the first half of September, according to Coinglass data.

Open positions increased from $6.47 million to $12.13 million. This shows that more investors in the market are investing in QNT with the expectation of future earnings.

Crypto analyst Dami-Defi stated that QNT broke out of the falling wedge formation and this is a bullish sign. Following this formation, QNT broke the resistance at $69 and started an upward movement.

The analyst predicts that if the momentum continues, QNT may test the $82 resistance, and if it breaks this level, the price may rise to $145.5. This represents a big jump from current levels.