Quant price prediction: What is quant (QNT)?
It aims to bring the blockchain to the masses, but what is quant (QNT)?
Let’s take a look and see what we can find out, and also examine some of the quant network price predictions that were being made as of 21 December 2022.
Quant explained
In the world of cryptocurrency, the blockchain is the key that keeps everything going. The idea that you can have a decentralised ledger where every transaction and change is recorded, but with no overall authority controlling it, caused something of a small revolution – and one that has led to the multi-billion dollar crypto industry being a mainstay.
That said, although pretty much every cryptocurrency that isn’t ripple (XRP) relies on blockchain technology to work, there are some problems that blockchains face.
For instance, although a lot of blockchains are able to sustain a significant amount of decentralised applications (DApps) and other platforms, most of which have their own crypto tokens, there are often problems when it comes to crossing over from one blockchain to another.
Furthermore, when a blockchain becomes busy, transaction speeds can slow down which, in turn, can make things more expensive than it should be.
So it should not be too much of a surprise to learn that there are some platforms that aim to solve those problems – and Quant is one of them.
The idea behind this particular network is that it uses a program called Overledger, which claims to provide accessible, easy-to-use plug-and-play solutions to connect up enterprise software and blockchain platforms.
According to the whitepaper: “One of the challenges with digital ledgers is they exist in silos. Different structures and working mechanisms make it harder to build a common interface. Overledger addresses this issue, sitting on top of them rather than struggling to match them up.”
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Closed-source platform
Something that makes Quant a little different from most of its competitors is that it is closed-source. This means that, while most similar platforms are intended to be used by anyone, you will need to pay to use Quant’s services, and it does not reveal the full details of its technology.
Quant was founded by Gilbert Verdian in 2018, who serves as the company’s CEO. Verdian is a cybersecurity expert and has held senior technology management positions in several organisations, including HSBC, PriceWaterhouseCoopers, the Ministry of Justice, BP and HM Treasury.
The company’s chief technology officer is Peter Marirosans, who has been with Quant since November 2019. According to Marirosans’ LinkedIn profile, he was the founder and director at Bear Essential Computer Service for 23 years. The company had two shareholders and was dissolved in 2016, data from Companies House showed.
Quant network launched through an initial coin offering (ICO) in May 2018. According to icodrops.com, QNT had an initial maximum supply of under 45.5 million tokens, with 68.2% of supply offered for sale at 420 QNT per Ether (ETH). By the end of the token sale on 11 May 2018, the ICO had raised $11m.
QNT is the native token of Quant network. It is used to pay for certain goods and services on the platform. Incidentally, because it is based on the Ethereum blockchain, it is a token, rather than a coin. You might see references to a “quant coin price prediction” or similar, but such terms are, technically speaking, incorrect.
Four months after the ICO, Quant implemented a token burn which reduced the overall QNT supply.
According to CoinMarketCap, 9.9 million QNT tokens were sold during the ICO, with 2.6 million were reserved for the project’s operation, 1.3 million allocated to the company’s founders and 651,000 were issued to advisors.
Quant price history
QNT price history from launch to present - Credit: CoinMarketCapLet’s now take a quick look at the QNT price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can give us some useful context when it comes to either making or interpreting a quant price prediction.
The quant price chart looked almost flat from its launch in 2018 until the beginning of 2021, when it started to climb, thanks in part to a growing market.
QNT started the year at $11.23 and reached an all-time high of $393.54 on 10 September 2021. After that there was some fallback, and QNT closed the year at $178.82.
2022 has been tough for the crypto market. A series of crashes have wiped more than a trillion dollars from the market’s total value, and QNT has been one of many cryptos to suffer. According to CoinMarketCap, the total crypto market cap of $2.18trn on 1 January had plunged to $1.01trn by 18 June 2022.
The quant token price followed a similar pattern, declining from $179.16 on 1 January 2022 to a low of $42.95 on 18 June 2022. However, the cryptocurrency’s price has more than doubled since then. It reached a high of $130 on 15 August and then continued to climb over the coming months.
The token managed to surpass the $150 mark in the first half of October and rocket to a 90-day high of $226.09 on 17 October 2022.
However, QNT has fallen from this peak, following the the collapse of the FTX (FTT) exchange, and on 22 November it hit a low of $100.52. Despite threatening to fall below $100, it managed to make a recovery, broadly in line with the market to $132.61 on 3 December.
After that, though, it fell down and, on 21 December 2022, it was worth about $105.50. With a little over 12 million QNT in circulation out of a total supply of 14,612,493, it had a market cap of about $1.275bn, making it the 32nd largest crypto by that metric.
Quant price prediction round-up
Let’s now take a look at some of the quant price predictions that were being made as of 21 December 2022. It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, often turn out to be wrong. Also, it is worth noting that many long-term crypto price predictions are made using an algorithm, which can change at a moment’s notice.
First, CoinCodex had a short-term QNT price prediction that argued the token could climb to $116.66 by 26 December. However, there was some bad news for the new year, with quant predicted to fall to $103.11 by 20 January 2023. The site’s technical analysis was bearish, with 25 indicators sending downbeat signals against just four making bullish ones.
Next, CoinsKid made a quant crypto price prediction that said the token could close 2023 at $134.93 before falling to $116.54 12 months later. The site then made a quant price prediction for 2025 that saw it start the year at $115.37 and close it at $206.94.
PricePrediction was more positive in its quant token price prediction, suggesting that QNT could hit $167.15 next year and $349.48 in 2025. The site then made a quant price prediction for 2030 that saw it trade at $2,329.97.
In contrast, Wallet Investor’s quant price prediction for 2023 was bearish, anticipating that the token’s value could fall to $34.18 by 21 December next year.
When considering a QNT token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency coins and tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns, and never trade with money that you cannot afford to lose.
FAQs
Is quant a good investment?
It is hard to say. A lot will depend on how the market acts going forward.
Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies can be affected by bear markets, so investors should be prepared to make losses and never purchase more than they can afford to lose.
Will quant go up or down?
No one can say for sure. While some sites like PricePrediction were optimistic about the token’s future as of 21 December 2022, others such as Wallet Investor were far more downbeat. Remember that price predictions often turn out to be wrong, and that prices can, and do, go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether QNT is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors.
Keep in mind that past performance is no guarantee of future returns, and never invest any money that you cannot afford to lose.
Should I invest in quant?
Whether you should invest in QNT is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research.
Never invest more money than you can afford to lose, because prices can go down as well as up.
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