As traders eagerly await a possible rebound in Bitcoin and the broader crypto market, three notable assets—Cardano (ADA), Quant (QNT), and Holo (HOT)—have seen a sudden spike in address activity.
Historically, when coins experiencing a decline in value suddenly witness such activity increases, it often indicates a potential price bounce.
Cardano has hit its highest level of address activity since March 2024, while Quant has reached its highest since November 2022. Meanwhile, Holo has also surged, seeing its most active wallets since March 2024. This growing on-chain activity has raised optimism about an upcoming recovery for these assets.
In particular, Quant has been at the center of attention, with thousands of wallets sending small amounts of $QNT into Coinbase 10, which holds Quant’s treasury. This surge has sparked speculation that Coinbase could be preparing to introduce staking for $QNT, especially after a series of updates on Quant’s official site and new patents centered around the token.
🚨 Something’s up with $QNT! 🚨 Thousands of wallets are sending small $QNT amounts into Coinbase 10, which holds a QNT Treasury wallet. 👀
With recent updates on Quant's site and new patents focusing on $QNT, could Coinbase staking be coming soon? 🤔 Hoping for at least 5%… pic.twitter.com/DlHk7vxo5K
— Elisha (@ElishaJacy) September 7, 2024
Quant’s CEO, Gilbert Verdian, made an unexpected return to Telegram for the first time in two years, further fueling the excitement. Verdian revealed that Quant has recently received regulatory and legal clarity regarding staking and other reward mechanisms, which led to an update in their Terms and Conditions. Many believe this could be a key step toward offering $QNT staking on platforms like Coinbase.
⚔️ 𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆: $QNT CEO Gilbert Verdian just appeared on Telegram for the first time in 2 years.
And it wasn’t just to say hi…
We now have confirmation that Quant has received regulatory and legal clarity around “staking and other forms of rewards,” and… https://t.co/xZfowp3dN8 pic.twitter.com/JTRm69szOu
— Greg Lunt (@GregLuntX) September 7, 2024
With regulatory approval and a new focus on staking rewards, Quant is well-positioned to capitalize on this momentum. As address activity for ADA, QNT, and HOT continues to surge, traders are keeping a close eye on these assets for a potential rebound in the near future.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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