QNT has surged more than 300% from last week's lows to trade near $274, putting its 2021 all-time high within reach after Quant secured a major U.S. banking deal and UK banks completed live tokenized deposit transactions using its infrastructure.
QNT has moved from the $60 to $70 area last week to an intraday peak above $350 before giving back part of the rally, according to TradingView data. That leaves the token within reach of its 2021 all-time high of $427.42 if buyers regain control above the latest resistance zone.
Clearing House deal drives the rally
The rally accelerated after The Clearing House selected Quant to power its On Chain Money Initiative, an interoperable payments network designed to let financial institutions clear and settle tokenized deposits. Quant will provide the interoperability, orchestration and transaction management layer for the network, connecting it with existing systems including RTP and CHIPS. The Clearing House expects the network to become available to participating institutions in the first half of 2027.
The U.S. deal followed a separate development in Britain, where Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander completed live customer transactions using tokenized sterling deposits under the Great British Tokenised Deposit initiative, which runs on infrastructure Quant developed. The tests included remortgage transactions and a marketplace payment, moving the project beyond earlier simulations.
Technical picture stays bullish but stretched
On the daily QNT/USDT chart, +DI stood at 68.80 against -DI of just 0.82, with ADX at 47.74, a level normally associated with a strong directional trend. The $290 to $320 area is the first zone QNT needs to reclaim, with $350 to $370 as the next resistance before the $400 psychological level and the $427.42 record come into focus.
On the four-hour chart, Aroon Up stood at 92% while Aroon Down was at 0% on Sept. 28, and QNT dropped as low as $249.03 before recovering to around $274.57, making the $249 to $250 zone the immediate support to watch. A break below it would weaken the short-term structure after the token's near-vertical rally.
Broader altcoin market turns bullish
The rally has come as the wider altcoin market improves. Binance data cited by CryptoQuant analyst Darkfost showed 87% of listed altcoins trading above their 200-day moving averages by Sept. 27, compared with 84% below at the end of June, while altcoin market capitalization gained more than $371 billion over the same period to stand near $1.17 trillion. Institutional interest in tokenized deposits has also been building beyond Quant's own projects, with the Bank of England saying in May that the UK's future payment system could support conventional deposits, tokenized bank deposits, regulated stablecoins and potentially a retail central bank digital currency.
QNT's move has nevertheless far outpaced the rest of the market, leaving $249 as the level separating the current structure from a deeper correction as buyers attempt to reclaim the $290 to $320 area.
Source: crypto.news
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