QNT Whales End Three-Year Dormancy, Move Tokens to Exchanges

Whales holding Quant (QNT) that had been inactive for over three years have begun transferring their tokens to trading platforms. These movements occurred as QNT surged 287% over the last week, reaching $266.75.

On-chain metrics indicate that whale transactions on the Quant network hit an all-time high. Additionally, a wave of new wallet addresses appeared in the days following The Clearing House's selection of Quant for its tokenized deposit initiative.

Long-Dormant Wallets Transfer QNT to Trading Platforms

According to Lookonchain, two wallets emerged from over three years of dormancy amid QNT's rally. Wallet 0x6d32 deposited 8,250 QNT, valued at roughly $1.88 million, into Binance.

The second wallet, 0xd633, transferred 34,200 QNT worth $8.05 million. From that amount, 9,000 QNT ($2.12 million) has already been sent to Coinbase and Kraken.

Meanwhile, Santiment recorded 645 transactions of $100,000 or more on the Quant network in a single day, the highest figure on its records. However, the firm advised caution regarding the spike's implications.

“Whale activity confirms that large players are paying attention, but it doesn’t tell us whether every whale is buying or selling,” the firm said.

Retail interest also increased, as QNT became the most-viewed cryptocurrency on CoinGecko on Tuesday.

$QNT, $FIRO, and $TRUMP are today’s most viewed coins. Are you watching any of these?

Quant Network Activity Surged Three Days After Clearing House Announcement

This on-chain activity follows The Clearing House's selection of Quant on September 24. The Clearing House is owned by 25 major US banks. However, Santiment's data indicates that most of the on-chain activity occurred after that date.

The number of new addresses reached 7,516 on September 27, approximately 55 times the average weekday count between September 1 and 15. On the day of the announcement, only 351 new addresses were created.

Active addresses showed a similar trend, climbing from 2,064 on September 24 to 14,458 on September 27. Derivatives traders also participated. Open interest in dollar terms increased almost ninefold over the four days. When measured in QNT, the rise was approximately 2.2 times.

The price movement mirrored the activity. QNT reached $373 on Binance on Sunday, the highest level since September 2021. That peak was roughly 13% below the all-time high of $427.42.

Santiment did not identify any new catalyst for September 26 or 27. They also noted that on-chain metrics cannot indicate whether banks will ultimately adopt Quant's network.

The network backed by The Clearing House is scheduled to launch in the first half of 2027. Santiment commented that price cooling and consolidation would be more sustainable than another steep rally.