Jul 15
When I wrote, 3 Crypto Altcoin Bargains You Should Buy Now with $300, which was distributed by Medium and has more than 5600 internal views and was my second highest earning article to date, one of my readers commented:
“These are all old news and have has their day. Look at something truly innovative, with better tokenomics and an arguably better team & connections than almost all projects out there. Dig into Quant and come out seeing insane potential.”
Of course, I responded that I have written about Bitcoin and several altcoins, of which there are around 18,500, but I would do one for Quant as well.
TBH, I do see some “insane potential”— thanks for bringing it to my attention, and I hope you enjoy this write-up, Andrew.
It is designed to be fully compatible with all blockchain systems and protocols, allowing it to easily integrate into multi-chain applications (MApps), decentralized applications (DApps), and smart contracts.
It is a peer-to-peer (P2P) protocol that uses smart contracts to enable people to create, manage, and trade their tokens on the network.
The QNT token is used for many purposes, like payment for products and services, to share profits, and as a payment method for various freelancers.
The QNT Protocol also uses these tokens as an incentive mechanism to reward contributors with a portion of the fees they earn from using the platform.
QNT reached an all-time high (ATH) of 428.38 USD only 10 short months ago, on 11 SEP ’21. Despite dropping to $41.16 in the previous 90 days, much of that retreat can be blamed on the “crypto winter,” or bear market for both stocks and cryptocurrencies.
If the Bitcoin (BTC) “halving” is the crypto market catalyst it has been in the past, and there’s no indication it won’t be, then QNT could return to those lofty heights (or exceed them) because it is a worthy project.
Its current price of $86.72 is nearly $25 higher than just 7 days ago, in a bear market.
The QNT token has many advantages over traditional currencies, such as ease of interoperability, transferability, and transaction speed.
Likewise, although there has been much speculation about its use for money laundering and other criminal activity (along with all cryptocurrencies), the distributed ledger makes it possible to track every cryptocurrency transaction.
Listen to Charles Hoskinson on CNET talk about the transparency of blockchain. His testimony is brilliant, clear, and concise.
Crypto is also more secure than fiat currencies because they cannot be counterfeited or manipulated by governments to cause inflation. Many tokens have a built-in mechanism to cause deflation by “burning.”
Cryptocurrency burning is the process in which users can remove tokens (also called coins) from circulation, which reduces the number of coins in use. The tokens are sent to a wallet address that cannot be used for transactions other than receiving the coins.” — Investopedia.
Overledger is a decentralized platform that allows developers to create and manage their blockchains and smart contracts.
The Overledger platform, similar to PolkaDot and COSMOS, attempts to solve blockchain-based issues without higher production costs.
However, Quant’s Overledger technology facilitates interoperability with old “legacy” systems, whereas COSMOS and PolkaDot do not.
A legacy system is any outdated hardware or software that’s still in active use. Legacy systems are common in large companies with a long history, such as financial institutions.”
The team behind Overledger technology hopes to allow users to develop new application features and speed up the time to adoption of DApps and MApps.
#QNT #Quant #Overledger
Distributed Ledger is a protocol built on top of the Ethereum blockchain. The Protocol will use the lessons learned by other DLT networks to create a more secure, reliable, and decentralized network for various industries.
Distributed ledgers are the databases shared across a network and spread over various geographical locations. A ledger is a collection of financial accounts, and, in such a case, distributed means spread out and controlled globally. Thus, distributed ledgers are held and reorganized by multiple parties in different locations and institutions.”Corporate Finance Institute.
The Protocol will use the “lessons learned” by other DLT networks and bring them into one platform. QNT is a utility token used as a payment method on the QNT and has several functions.
It is the fuel for trading, paying for services, rewarding contributors, and incentivizing contributors to keep the network secure. QNT can also be used to reward developers and contributors who participate in the development of the Protocol.
The Quant price has moved so fast, I couldn’t write this fast enough. That is not hype, just fact.
“The live Quant price today is $86.13 USD with a 24-hour trading volume of $83,725,215 USD. We update our QNT to USD price in real-time. Quant is up 3.81% in the last 24 hours. The current CoinMarketCap ranking is #46, with a live market cap of $1,039,784,768 USD. It has a circulating supply of 12,072,738 QNT coins and a max. supply of 14,612,493 QNT coins.” — Coin Market Cap.
One of the things that impresses me and quite likely many other investors is the max supply of 14.6 million coins. That’s one of the factors that drive the price. With many tokens having max supplies in the billions or even trillions, 14.6 million is an exceptional amount.
If you’ve read my articles, you know I don’t predict crypto prices. I try to be objective and share the facts about various altcoins so that you can form your own opinion.
To me, without a crystal ball, which is some Disneyland BS. There’s no way to accurately predict how stocks and crypto will move.
Of course, you can get an idea by reading charts, as crypto and stocks are somewhat cyclic, there are no guarantees that previous conditions or prices will reoccur.
However, its current $85 price could be a bargain if it returns to the pre-bear market or “crypto winter” ATHs. Imagine buying one per month until the expected 2024 BTC halving. Due to the coin’s maximum supply of just over 14.6 million, the price can move quickly, so use care when HODLing this coin.
You could miss your intended “sell” price if you sleep on it. Therefore, it is wise to use “stop loss” or “take profit” limits to maximize profits and limit losses.
That would be about a $2,000 investment, which could grow to $10,000 if QNT returns to its ATH of about $425 per token. Yet, some are talking about it going much higher. Only time will tell.
Since the crypto market typically follows the price of BTC, and the BTC halving usually moves the price higher, 2024 could see a return to higher prices for many altcoins.
#qnt #bitcoin #Cryptocurrency #fintech #cryptoinvesting #cryptocommunity
DISCLAIMER: This article is for entertainment and informational purposes only. It should not be considered financial or legal advice. Not all information will be accurate. I am not a financial adviser, and you should consider anything I write as informational and friendly banter to show you what is possible if you invest your money in these vehicles. However, there are no guarantees. Consult a financial professional before making any significant financial decisions.
Note: This post contains affiliate links. Read my disclosure statement for additional information.
Stephen Dalton is a retired US Army First Sergeant with a degree in journalism from the University of Maryland and a Certified US English Chicago Manual of Style Editor. Also, a Top Writer in Nutrition, Investing, Travel, Fiction, Transportation, VR, NFL, Design, Creativity, and Short Story.
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Stephen Dalton is a retired US Army First Sergeant with a degree in journalism from the University of Maryland. Top Writer in Investing, VR, and Short Story!
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