Quant (QNT) Accelerates as Tokenization Opportunities Emerge Amidst Market Uncertainties

2023 has been one of moderate and steady growth for the crypto market. The year began with a market cap of less than US$850 billion to reach nearly US$1.2 trillion by the end of May at a consistent pace.

Despite occasional peaks and troughs in the trajectory, the growth remained visible. It never went below the mark from where it started the year and often went higher than the mark it is hovering around now. For instance, the market capitalization had crossed US$1.3 trillion in mid-April.

As the representative asset of the crypto world, Bitcoin's dominance remains visible. It accounts for more than 44% of the market, while stablecoins occupy almost 11%. Ethereum continues to be another crucial player, coming second only to Bitcoin. Ethereum's dominance in this space also stems from the fact that it is the backbone of the decentralized finance world.

The Price Movement of Quant

The growth of the crypto market has encouraged many individual assets to grow over time. Quant is one such token that started the year at nearly US$106 and is at almost US$117 now. However, it had reached a much higher price point than where it is trading now.

The all-time high that Quant saw this year was close to US$156. While it has been a journey downward for Quant since then, the signs of a healthy recovery are visible of late. For instance, the price went up from US$99 on May 25th, 2023, to nearly US$117 on May 30th.

Quant's price graph suggests this period to be the sharpest recovery to date since its price started to decline from US$156.

According to available analysis, the growth observed in Quant's prices over the last week has been greater than that of the global cryptocurrency market. While the cryptocurrency market grew by 2.4%, the growth in Quant's performance was more than 15.5%.

While discussing the price ups and downs for Quant, one must also remember that Quant has the potential to do much better than what it has been doing of late. On September 11th, 2021, almost a year ago, the price of Quant had crossed US$427. It continues to be the all-time high for Quant to date.

Presently, the general market sentiment towards Quant is bullish, according to analysts. The circulating supply of Quant is close to 15 million tokens.

Click here to learn all about investing in Quant (QNT).

Quant's Vision: Latest Updates

Quant works with the vision of creating an empowered, interconnected world. Its mission rests on the objective of making blockchain simple, trusted, and future-proof. Its founding principles are interoperability, ease of use, adaptability, security, programmability, and resilience.

Quant's CBDC Vision

Recently, during a panel session at the Financial Times Digital Assets Summit, Quant CEO shared his CBDC vision. Gilbert's vision – which is highly suggestive of Quant's perspective on the digital assets world – places CBDCs as a “natural evolution of money, a new form of cash” that “will unlock a wealth of benefits for consumers and businesses.”

He also urged the audience to see CBDCs as a chance for the industry to “overcome legacy issues and finally tackle fraud and financial crime.” Gilbert stressed the importance of having rigorous data protection mechanisms in place and asked for personally identifiable data to be never shared with the issuing Central Bank. The Bank of England, a co-participant in the discussion, shared Gilbert's views on privacy.

Martin Hargreaves, the Chief Product Officer of Quant, also expressed his views about CBDCs at the recent flagship CityAM Digital Asset Event. When asked to explain to the audience what the functions of a CBDC are, Martin was of the view that the pandemic had accelerated “a gap” in the currency system, while many retailers refused to accept cash. The combination of these two factors led to the need for a CBDC.

Quant Sees Opportunities in Tokenization

In a recent article, Quant's Chief Marketing Officer, Andrew Carrier, discussed opportunities that lie within tokenization. According to Andrew, “enabling tokenization of non-bankable assets could be a significant competitive advantage for the private banks, asset managers, and accountants that move first.”

Andrew believes that the advantages of tokenization are numerous, including increased liquidity, lower transaction costs, increased transparency, access to a broader pool of investors, and fractional ownership.

Quant Started Supporting Avalanche

At the beginning of March, Quant announced its connectivity to the Avalanche blockchain through a new release of its Overledger platform. Overledger is the world's first blockchain-agnostic API gateway. It includes C-chain, Avalanche's main smart contracts chain.

According to Martin Hargreaves, the Chief Product Officer of Quant, the inclusion of Quant will enable customers to “issue, manage, and interact with assets on Avalanche and its ESG-friendly innovative consensus protocol.”

Quant Works towards Bolstering DLT Security and Interoperability With Secure Asset Transfer Protocol

Mid-February, this year, Quant became one of the participants of the IETF working group. The group is actively developing a new Internet Protocol to make the transfer of digital assets more secure and DLT networks more interoperable. Part of this mission will require standardizing communication between networks and securing transactions across networks.

The group comprises people coming from MIT, IBM, EY, and other places. Thomas Hardjono, Director at MIT Internet Trust Consortium, expressed his gratitude to the Quant Team for “supporting this IFTF protocol development from the beginning.”

According to Claire Facer, product manager at Quant and co-chair of the SATP working group, the “SATP will be a core infrastructure akin to today's internet routers operating with border gateway protocol.”

Quant Partners UST

Last year, Quant partnered with UST, a digital transformation solution company that offers technical integration and tokenization services. Usually, its clients are central and commercial banks and capital markets participants.

Elaborating on the value of the partnership, Gilbert Verdian, Quant Founder and CEO, said that “the partnership will ensure that financial institutions can create new business opportunities and innovate with new DLT-embedded products and services to tokenize existing asset classes.”

Recovery and Venturing Into Emerging Areas: Quant's Progress

Quant is focused on areas like tokenization, digital currencies, etc. These emerging fields come with high potential. Efficient decision-making might help Quant leverage its growth to their fullest extent. We have already noticed a recovery in Quant's prices. Whether Quant manages to sustain the momentum will still take some time to confirm.

Final Note

As 2023 unfolds, the cryptocurrency market, led by Bitcoin and Ethereum, has been expanding steadily, a trend that has propelled individual assets like Quant.

Despite the occasional fluctuations, Quant's price has shown a recent resurgence, indicating the potential for further growth, outpacing the overall market rate. At its core, Quant's vision for a future-proof, interoperable blockchain and digital assets ecosystem is continually reinforced by its initiatives.

Overall, Quant's focus on CBDCs, the tokenization of non-bankable assets, blockchain connectivity, and its partnership with UST all signal a strategic thrust toward emerging high-potential domains. Thus, while a complete recovery and sustained growth trajectory are yet to be confirmed, Quant's progress reflects a bullish market sentiment and a forward-looking approach, poised to capitalize on digital currency growth areas.

Click here to learn how to buy Quant (QNT) in just four steps.