Quant (QNT) price may be under downward pressure in the short term. Data from Lookonchain shows that an early token holder deposited 118,008 QNT tokens worth $9.78 million into the Kraken exchange.
The wallet sold 8,050 QNT tokens worth $742,000 at $92 on decentralized exchange Uniswap over the past month, after which the price dropped about 11%.
Additionally, this event could influence a wave of selling or could be the catalyst for a correction amid bearish market conditions.
Santiment's Age Consumed index further reinforces the bearish outlook. A spike in this index shows that dormant tokens (tokens stored in wallets for long periods of time) are being moved and can be used to spot short-term tops or bottoms.
For QNT, history shows that these spikes have been accompanied by declines in Quant's price. The most recent increase on June 17 also predicted that QNT is poised for a downtrend.
QNT's Age Consumed chart
Santiment's data on exchange supply shows the total amount of QNT held on centralized exchanges (CEX), decentralized exchanges (DEX), and off-exchanges. An increase in this index indicates the possibility of a sell-off or the formation of a local price top, while a decrease indicates whale accumulation or the formation of a local price bottom.
In the case of QNT, the supply on the exchange increased from 1.56 million on June 16 to 1.68 million on June 17. This 7.6% increase shows that investors are depositing their holdings into exchanges to take profits, which could lead to the formation of local price peaks or a potential sell-off.
Source: https://tapchibitcoin.io/gia-quant-qnt-chuan-bi-cho-dot-ban-thao-ngan-han-giua-lan-song-ban-ra-cua-nhung-nguoi-giu- token-som.html
