Highlights:
- Quant has bounced off the $68.68 support, a signal of rising bullish sentiment
- Bullish sentiment could be sustained by positive Quant news and US interest rate cuts
- Quant could rally to $100 if bulls can push the price through the $80.09 resistance
Quant (QNT) is showing strength today, bucking the broader market trend as it gains traction. As of press time, QNT was up by 1.09%, trading at $70.63, bouncing off its critical support level of $68.68. This support level has proven to be a key battleground for bulls and bears, and today’s action suggests that the bulls are gaining control. If Quant price breaks the $80.09 resistance, analysts expect a rally to $100 or higher in the short term.
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However, should the bears regain control, a break below the $68.68 support could see Quant correcting further to its next support level at $57.12. Despite the possibility of a correction, market sentiment and broader trends suggest that the odds favor a bullish rally. Moreover, Several developments in the financial sector, mainly related to Quant’s growing importance in banking and payments infrastructure, could catalyze this upward momentum.
Quant’s Role in the UK Regulated Liability Network
One of the key drivers behind Quant’s bullish outlook is its role in the UK’s Regulated Liability Network (RLN), a project aimed at revolutionizing payment infrastructures. According to blockchain analyst Tokenicer, Quant’s Overledger technology has been instrumental in the successful experimental phase of the RLN. The UK Finance initiative, which saw participation from several leading banks and fintech companies, demonstrated Quant’s Overledger’s ability to connect multiple payment infrastructures across the UK.
🔥UK Finance concludes a successful experimental phase of the UK RLN.
One of the most anticipated initiatives on $QNT.
With several leading UK banks & FinTechs participating, the backbone of the RLN was made possible by R3 Corda & Quant's Overledger.
But there's more to the… pic.twitter.com/K8rZ2CyE3c
— 🥖Tokenicer✲⥃⬢ (@Tokenicer) September 18, 2024
During the trial, Overledger seamlessly connected systems such as CHAPS (Real-Time Gross Settlement), BACS (Batch Payments), Faster Payments (Real-Time Payments), SWIFT (International Messaging), and Direct Debit (Card Payments). The interoperability across these diverse systems is a significant breakthrough, especially in an era where the need for seamless cross-border and cross-platform payments is becoming more urgent.
Quant’s ability to serve as a common point of access for all these payment infrastructures sets Quant apart in this trial. By facilitating interbank settlements with legacy technologies such as RTGS alongside emerging solutions like Central Bank Digital Currencies (CBDCs) and other blockchain innovations, Quant has demonstrated its potential to bridge the gap between traditional finance and the digital economy.
This growing role in connecting the UK’s payment ecosystem, particularly with financial heavyweights like HSBC, Lloyds, Mastercard, and Visa participating in the RLN, underscores Quant’s rising influence in the financial sector. As banks and FinTechs recognize Overledger’s power, demand for QNT will likely increase, potentially sparking FOMO among investors.
Quant’s Participation in the Digital Money Event
Further supporting Quant’s bullish outlook is the upcoming Digital Money Event, set to take place in London on October 23. The Digital Pound Foundation has announced Martin Hargreaves, Quant’s Chief Product Officer, as a key speaker at the event. The event will bring together up to 200 attendees, including fintech innovators, policymakers, leading academics, and financial media, to discuss the impact of digital money on the global economy and society.
We are excited to announce our 6th speaker for the Digital Money Event in #London on 23 October 👉 Martin Hargreaves, Chief Product Officer at #Quant.
Martin, who has been an integral part of the Digital Pound Foundation since our inception, will be taking part in a fireside… pic.twitter.com/qvYEdqDBaS
— Digital Pound Foundation (@digitalpoundfdn) September 17, 2024
Hargreaves, who has been instrumental in Quant’s involvement with the Digital Pound and the Regulated Liability Network, will share insights on how Quant’s technologies are shaping the future of digital payments. The fireside chat is expected to highlight how Quant’s work connecting existing banking systems with new networks unlocks opportunities for commercial banks, capital markets, and the broader financial ecosystem.
Quant is positioning itself at the forefront of the digital finance revolution by integrating programmable payments and offering instant settlement solutions. Consequently, these advancements enhance its role in digital asset transactions.
Moreover, Banks adopting Quant’s technology can explore new revenue streams and enhance their service offerings for retail and enterprise customers. Quant’s solutions can help mitigate risks and improve liquidity in capital markets, further cementing its importance in the financial world.
Macro Factors Supporting Quant’s Bullish Outlook
Quant’s expanding role in the financial sector fuels its bullish momentum, strengthened by broader macroeconomic conditions. Therefore, if the US Federal Reserve announces an interest rate cut today, it could inject liquidity into financial markets and trigger a rally across riskier assets, including cryptocurrencies. Should this scenario play out, Bitcoin could surge, taking the broader altcoin market, including Quant, along with it.
A Recap on Quant Price
Quant is in a solid position to capitalize on its growing importance in the financial sector. The successful experimental phase of the UK’s Regulated Liability Network and Quant’s role in the Digital Pound Foundation are vital factors that could drive its price higher. With both institutional interest and retail FOMO building, Quant may be on the verge of a significant breakout. If the US Federal Reserve’s rate decision supports the market, Quant could soon reach or exceed the $100 mark.
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