- Quant price has gone parabolic in the past few weeks.
- It has jumped by more than 27% from the lowest level in 2023.
- Quant is a leading player in the field of RWA tokenization.
Quant crypto price has been in a strong bullish trend in the past few days as cryptocurrencies rally. The token soared to a high of $106 on Thursday morning, the highest level since August 2nd. It has surged by more than 27% from the lowest level this year.
Quant and tokenization
Quant is a a blockchain project that helps banks and other companies to solve some of the biggest challenges in the industry. It helps these firms build quality products in areas like digital currencies, financial markets, capital markets, and supply chains.
Quant has an important role in key areas like stablecoin development and tokenization. Stablecoins are cryptocurrencies that are backed by real assets like the US dollar or the euro.
Real World Assets (RWA) tokenization, on the other hand, is the process of bringing assets to the blockchain. For example, a real estate company can bring its projects to the blockchain, making it easy to trade.
Tokenization is seen as the future of the blockchain, with assets worth over $10 trillion expected to be tokenized in the coming years. We have already seen this process recently. This month, JPMorgan, the biggest American bank, made a tokenized transaction between Blacrock and Barclays.
Other companies have embraced tokenization as well. Swift is working with Chainlink, the biggest oracle network in the world. Companies like the London Stock Exchange (LSE), ANZ Bank, Citi, and UBS have all embraced the technology.
Quant uses its Overledger platform to help companies with tokenization. Overledger helps these companies to tokenize assets, develop multi-chain applications, integrate these tools with your API, and connect assets to new ecosystems.
Quant, like other cryptocurrencies, has also surged because of the ongoing hopes that the Securities and Exchange Commission (SEC) will approve a Bitcoin ETF soon.
Quant price forecast
The daily chart shows that the QNT price has made a bullish breakout in the past few days. Before that, the token had formed a falling wedge pattern, which is one of the most popular reversal patterns in the world.
Now, Quant has surged above the 50-day and 100-day moving averages. At the same time, the Relative Strength Index (RSI) has moved to the extreme overbought level of 80. The Stochastic Oscillator has also moved to the overbought point.
Therefore, there is a likelihood that the coin will continue rising in the coming days as buyers target the important resistance point at $114, the highest point on June 30th.
