Quant (QNT) Sees 178% Weekly Surge as OKX Introduces 50x Leverage Futures Trading

Key Highlights

• On October 1st, OKX introduced perpetual futures for QNT featuring leverage up to 50x, with USDT settlement occurring every four hours.
• Currently trading around $249, QNT has declined 16% in the past day while maintaining a remarkable 178% increase over seven days.
• The Clearing House selected Quant as the technology provider for its tokenized deposit settlement infrastructure, with banking institution access scheduled for early 2027.
• In September, seven major UK financial institutions successfully executed live transactions using tokenized sterling deposits via Quant’s technology framework.
• A cryptocurrency wallet associated with Quant’s CEO Gilbert Verdian transferred 25,776 QNT tokens valued at approximately $6.97 million following seven years of dormancy.

Over the past fortnight, Quant has emerged as one of the cryptocurrency sector’s most discussed digital assets. The token experienced a dramatic surge from below $100 to surpassing $300 before experiencing a correction.

This impressive price action captured the interest of OKX. On October 1st, the cryptocurrency exchange introduced perpetual futures contracts for QNT, enabling traders to utilize leverage reaching 50x.

These newly launched contracts settle in Tether (USDT) and utilize the QUANT/USDT index for price determination. Typically, funding fees are processed every four hours, though this interval may compress to one hour when funding rates reach extreme levels.

The exchange did not explicitly connect the listing decision to QNT’s recent price movements, nor did they provide any future price projections for the token.

Catalysts Behind the Price Surge

The significant price appreciation began following The Clearing House’s announcement on September 24th that Quant would provide the technological backbone for its On-Chain Money Initiative. This network is designed to facilitate clearing and settlement of tokenized commercial banking deposits.

Quant’s role involves providing the interoperability framework and transaction-management infrastructure. The platform will integrate with established payment systems including RTP and CHIPS, which collectively process over $2 trillion daily according to The Clearing House data.

Financial institutions participating in this network are anticipated to gain access during the first six months of 2027. Specific launch partners have not yet been disclosed.

Prior to securing the U.S. partnership, Quant had already deployed operational infrastructure in the United Kingdom. On September 24th, UK Finance announced that seven prominent banks—Barclays, HSBC UK, Lloyds, Monzo, Nationwide, NatWest, and Santander—successfully executed live transactions utilizing tokenized sterling deposits.

These transactions encompassed peer-to-peer transfers and remortgage scenarios. UK Finance emphasized that the tokenized deposits maintain their status as commercial bank money under current regulatory frameworks.

Market Performance and Wallet Activity

QNT’s value escalated from approximately $90 on September 24th to an intraday peak approaching $357 on September 30th. This represents a seven-day appreciation exceeding 400% from the cycle lows.

The asset has subsequently retraced from those highs. According to CoinGecko, QNT currently trades near $248.86, reflecting a 16.1% decline over 24 hours while preserving a 177.8% weekly gain.

Current trading volume stands at approximately $451 million, representing a 41% decrease from the previous day yet remaining significantly elevated compared to pre-rally activity. The 24-hour trading range spans from roughly $242 to $305.

QNT’s market capitalization currently hovers near $3.62 billion, positioning it as the 34th largest cryptocurrency by this metric. Approximately 15 million QNT tokens are currently in circulation.

Crypto analyst Patel highlighted the movement on X (formerly Twitter), cautioning his audience that QNT had reached a resistance level from its 2021 peak. He identified a shorting opportunity between $330 and $430, with potential downside targets at $200, followed by $130, and possibly below $100 if bullish momentum dissipates. Patel indicated he was avoiding purchases at present prices, characterizing the risk-reward profile as unfavorable near recent highs.

In parallel developments, a wallet connected to Quant’s founder and CEO Gilbert Verdian executed a transfer of 25,776 QNT tokens, valued at approximately $6.97 million, after remaining dormant for seven years. The tokens were sent to a freshly created wallet rather than a recognized exchange address.

The originating wallet continues to hold approximately 600,000 QNT, currently valued at roughly $160.39 million. The transaction itself does not provide confirmation that the tokens were liquidated on the open market.

Beyond these developments, Quant has established partnerships with Murex focused on capital-markets infrastructure and collaborated with Dentsu Soken in Japan regarding tokenized deposit solutions. The company showcased its tokenized deposit initiatives at the Sibos conference held in Miami this week.

The post Quant (QNT) Sees 178% Weekly Surge as OKX Introduces 50x Leverage Futures Trading appeared first on Blockonomi.