Key Takeaways

• Quant is working with the Bank of England to help create the UK’s Central Bank Digital Currency.
• With the news that it was making its Overledger technology publicly available, the price of the native QNT token went up.
• Quant outperformed the market in 2022 and during the sluggish summer of 2021, but what happens next?

At a time when the relationship between blockchain technology and financial authorities has been strained, Quant appears to be an exception to the rule. 

The platform announced  it was working with the Bank of England in June 2023, with the system helping build the United Kingdom’s Central Bank Digital Currency. 

The crypto market was damaged when the United States Securities and Exchange Commission announced it was suing the Binance and Coinbase exchanges in early June. The news  that Quant was to make the technology it used for the UK CBDC publicly available gave the price of QNT a boost. 

But what is Quant (QNT)? How does Quant work? Let’s see what we can find out, and also take a look at some of the Quant Price Predictions that were being made as of 12 June 2023.

Quant (QNT) Explained

Quant  is a platform designed to solve two problems with blockchain technology. First, it aims to make working on the blockchain quicker and cheaper by reducing the usual technical slowdown associated with systems getting busier.

Secondly, it wants to make it easier to transfer assets between blockchains.

Quant, which was founded in 2018 by cyber security expert Gilbert Verdian, is based on the Ethereum blockchain and is supported by its native QNT token.

How Quant Works

Quant uses software called Overledger , which aims to offer user-friendly and easy-to-use solutions for connecting enterprise software with blockchain platforms and, by extension, allowing people to work on separate blockchains. 

Something that makes Quant a little different from other platforms is that it is a closed-source project. In other words, if you want to use Quant, you will have to pay for it and the full details of how it works are not publicly available. 

QNT is a utility token, with it being used to pay for goods and services on the Quant network. Because QNT is based on Ethereum, it is a token, rather than a coin. This means that, while you might see references to such things as a Quant coin price prediction, these are wrong.  

QNT Price History

Let’s now take a look at the Quant price history . While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us some very useful context when it comes to either making or interpreting a Quant price prediction. 

Quant first came onto the open market in the summer of 2018, when it was worth about $0.20. The token’s price rose steadily but unspectacularly over its first two years or so on the market, but it picked up pace in early 2021. 

It was at this time that crypto entered a bull market, and QNT responded in line with overall trends, breaking past $50 in May. It was one of the few cryptos to avoid the market downturn of the following couple of months. When NFT fever saw the market recover in August, Quant, which climbed above $100 at the end of July, took advantage of an already strong position. 

The token enjoyed massive growth throughout August and the surge continued into the following month, with it trading at an all-time high of $428.38 on 11 September. What goes up must come down, though, and by the end of the year, QNT was back down to $178.82. This meant Quant had risen from its 2021 starting price of $11.23 by nearly 1,500%.

If 2021 was a feast for Quant, 2022 was, if not a famine, then certainly a rather unsatisfying meal. The crypto market suffered throughout the year and QNT was not immune to a series of market crashes. 

The token dropped below $100 in early May on its way to a low of $41.16 on 13 June. After that, it recovered, rising past $100 in July and briefly breaking past $200 in October. The collapse of the FTX exchange in November saw it perilously close to double figures, but it managed to avoid that, and it closed the year at $105.62.

While a loss of 40% year-on-year was not exactly anyone’s idea of happy news, when put in the context of a crypto market that lost more than 60% in 2022, its performance was not so bad.

So far, 2023 has seen QNT experience some growth and some reversals of fortune. Initially, the price went up, trading at above $150 in late January, but then it gradually slid back down.

In the turmoil following June’s news of the SEC’s lawsuits, QNT fell below $100, reaching a low of $95.90 on 16 June. After that, though, the news of its work with the Bank of England helped it make something of a recovery and, on 28 June 2023, it was worth about $106. 

At that time, there were 12 million QNT in circulation out of a total supply of 14.88 million. This gave the token a market cap of around $1.28 billion, making it the 39th largest crypto by that metric.

Quant Price Analysis

Quant has had a rather mixed time over the last month or so. On 5 June, before the news of the SEC’s legal actions broke, QNT was worth $116.47, which meant it fell more than 17% in nine days. 

After that, though, the recovery has seen it reach 10% above its low, but still 9% less than pre-crash levels.

Quant Price Prediction 

With that all out of the way, let’s take a look at some of the Quant price predictions that were being made as of 9 June 2023.

It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong. Also, keep in mind that many longer-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice. 

First, CoinCodex  made a short-term Quant price prediction that saw the crypto reach $114.26 by 3 July and continue to rise, reaching $153.48 by 29 July. The site’s technical analysis was, surprisingly, bearish, with 22 indicators sending discouraging signals compared to just eight making bullish ones. 

Quant Forecast for 2023

When it came to making a Quant price prediction for 2023, DigitalCoinPrice  was supremely confident, saying that the token would get to $211.18 by the end of the year, while Bitnation  had it worth $158.72 and PricePrediction.net  set a target of $132.03 this year. 

Quant Forecast for 2025

Looking at Quant price predictions for 2025, Bitnation’s forecast of $370.35 was considerably higher than PricePrediction.net’s score of $284.20. DigitalCoinPrice was, however, the most bullish, saying QNT could get to $375.96 in two years time.

Quant Forecast for 2030

With regards to a more long-term Quant price prediction for 2030, PricePrediction.net was the most upbeat, saying the token could trade at $1,822.91 that year, while DigitalCoinPrice also had it above $1,000 at $1,096.91. Bitnation was rather more cautious, saying it would get to $899.41 at the start of the next decade. 

Is Quant a Good Investment?

It is not entirely easy to tell. On one hand, QNT has proven to be rather resilient. When we consider that it outperformed the market in 2022, it was, in a rather low key sort of way, one of the big crypto success stories in a time most people associated with the sector would rather forget. 

Not only that, but the news of the system’s link with the Bank of England could well get people interested in it from outside of the traditional crypto sector, which is, when you think about it, a key step along the road to the holy grail of blockchain-based finance – mainstream acceptance. 

On the other hand, while it did not fall by as much as the market did last year, losing 40% is still a heavy loss. Quant can still fall victim to market crashes, so bear that in mind.

As always with crypto, you will have to do your own research before you decide whether or not to invest in Quant.

Will Quant go up or down?

No one can really tell right now. While the price predictions are broadly bullish, price predictions are very often wrong. You must remember that prices can, and do, go down as well as up. 

Should I invest in Quant?

This is a matter for you to decide for yourself. Before you do so, you will have to do your own research, not only on QNT but on other, similar, cryptos, such as Cosmos (ATOM). You should also make sure that you never invest more money than you can afford to lose. 

FAQs 

How many Quant are there?

On 28 June 2023, there were 12 million QNT in circulation out of a total supply of 14.88 million.

Will Quant reach $1,000?

It might do but, if it does, it won’t be for some time. PricePrediction.net said it could happen by 2028, but was more likely to take place in 2029, whereas DigitalCoinPrice had QNT reaching four figures in 2030. Bitnation, on the other hand, said it was likely, but not certain, to hit that target in 2031. Keep in mind that Quant’s highest ever price, which it reached in September 2021, was $428.38, less than half of that target.

What is Quant used for?

The QNT cryptocurrency is used to pay for services on the Quant platform. 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.