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Quant (QNT) experienced a notable rally in May, driven by increasing demand within the real-world asset tokenization industry. Additionally, the token’s supply on centralized exchanges decreased, indicating reduced selling pressure and growing investor confidence.

Quant Price Surge in May

The Quant price soared to a high of $119.67 in May, marking an impressive 101% increase from its lowest point in April. This surge pushed its market capitalization beyond $1.2 billion. As of the latest update on Sunday, the token was trading at approximately $110.35.

European Central Bank Partnership

Quant’s upward momentum was bolstered by its selection as a pioneer partner in the European Central Bank’s digital euro project. Out of 70 companies chosen for this initiative, Quant’s role is to enhance the security of the digital currency. This partnership underscores its growing reputation in the blockchain and cryptocurrency landscape.

Collaboration with Oracle

Earlier this year, Quant partnered with Oracle, one of the world’s leading technology companies. Quant’s technology plays a critical role in the Oracle Blockchain Platform Digital Assets Edition (OBP DA). Specifically, Quant’s Overledger solution facilitates interoperability and cross-ledger orchestration, enabling seamless communication across multiple blockchains.

Real-World Asset Tokenization Growth

Quant, similar to Chainlink (LINK), is positioned to play a vital role in the expanding real-world asset tokenization industry. Recent data reveals that tokenized assets have grown significantly, reaching $23 billion in value compared to less than $50 million in 2020. Analysts predict this growth will accelerate, with assets worth trillions expected to be tokenized in the coming years.

Decreasing Selling Pressure

Investor sentiment around Quant appears strong, as evidenced by reduced selling pressure. According to Santiment data, the number of QNT tokens held in centralized exchanges has dropped from 1.7 million in May to 1.67 million, signaling a shift toward long-term holding and reduced availability for trading.

Quant Price Technical Analysis

The daily price chart illustrates Quant’s recovery from its April low of $59.24 to a May high of $119.67. A golden cross pattern has formed as the 50-day and 200-day exponential moving averages crossed, a technical indicator often associated with bullish momentum.

Additionally, Quant has developed a cup-and-handle pattern, with the current price retreat representing the handle phase. This formation suggests a potential upward breakout, with the next psychological target likely around $150.

Key Takeaways for Investors

  • Quant’s strategic partnerships with organizations like the European Central Bank and Oracle highlight its growing influence in blockchain technology.
  • The tokenization of real-world assets is a rapidly expanding industry where Quant is positioned to play a crucial role.
  • Technical indicators, such as the golden cross and cup-and-handle pattern, point to potential future price gains.

As the cryptocurrency market continues to evolve, Quant remains a token to watch for both beginners and intermediate investors interested in blockchain innovation and real-world asset tokenization.

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