Cardano and Quant prices saw an uptick on Sunday, September 8, as the recent crypto sell-off eased slightly.

Quant Token Analysis

The Quant (QNT) token increased for the second consecutive day, reaching a high of $70, its highest point since August 26. It rose by over 23% from its lowest point last week but remains 54% below its highest point this year.

Cardano and Quant Wallet Activity

Cardano (ADA) climbed to $0.3390, significantly higher than Friday’s low of $0.30. Despite this rise, it has dropped by almost 60% from its year-to-date high. These tokens saw a slight increase as Bitcoin (BTC) sell-off moderated. After falling to $52,900 on Friday, Bitcoin bounced back to $54,500 on Sunday as some investors bought the dip. Typically, altcoins tend to follow Bitcoin’s movement.

Data shows heightened address activity for Cardano and Quant, indicating potential accumulation by investors, which often leads to a rebound. According to Santiment:

As traders await a potential Bitcoin/crypto rebound, Cardano, Quant, and Holo are three notable assets seeing a sudden surge in address activity. When coins that are declining in value suddenly see rises like these, it historically raises the likelihood of a bounce.

Cardano’s Futures Market

Another indication of increasing interest is Cardano’s rising open interest in the futures market. Data from CoinGlass shows that its open interest climbed to $177 million on Sunday, marking the third consecutive day of gains, up from Friday’s $167 million. Cardano’s active addresses have also increased to over 31,000.

Quant’s Futures Market

Similarly, Quant’s futures open interest surged to $12.15 million, its highest level since June 7, and significantly higher than last week’s low of $6.50 million. Futures open interest is a crucial metric in the financial market as it shows the volume of unfilled orders.

Market Position of Cardano and Quant

Cardano and Quant are significant players in the crypto industry. Cardano, with a market cap of $12 billion, ranks as the 11th largest cryptocurrency. Its goal is to become a top alternative to Ethereum (ETH). However, the network has struggled to attract developers and users, resulting in only a handful of DeFi dApps and a total value locked of $191 million. The developers recently launched the Chang hardfork, which they hope will lead to increased activity.

Quant is a network that assists companies in building blockchain-enabled applications, particularly in payment services. It is recognized as one of the leading players in the growing field of Real World Asset tokenization, aided by its overledger technology.

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