We are all aware of the cryptocurrency market’s volatility, dynamism, and enormous investment prospects. A lot of bitcoin investors are looking forward to 2024 and the next bull run, anticipating trends that were seen in years past.
Although no expert in the field of cryptocurrency can 100% guarantee the future, we can definitely identify possible currencies that show promise for another bull market in 2024. We will talk about the cryptocurrency known as Quant (QNT) and its potential for growth in 2024 in this article.
The State of Cryptocurrencies in 2024
Working on its regulatory measures for 2024, the Securities and Exchange Commission and other global regulatory authorities have been motivated by the numerous bankruptcies and fraud cases involving the cryptocurrency environment during the past two years. Many people in the cryptocurrency community believe that 2024 will bring about a new bull market despite the regulatory problems surrounding the industry, particularly in light of the Bitcoin halving event.
The US Federal Reserve’s rate hikes, Ethereum’s move to Ethereum 2.0, the value decline of popular cryptocurrencies, exchange failures, and the possibility of loan defaults are some of the recent events that have influenced the cryptocurrency market. These elements have shaped investors’ opinions on the cryptocurrency market, both positively and negatively.
While most of the causes will probably still have an impact a few years from now, others think there are too many different forecasts on the market.
Recognising Quant (QNT)
The blockchain project Quant (QNT) for cryptocurrencies facilitates smooth and interoperable transfers of virtual assets and data between different blockchain networks. A few major issues facing the cryptocurrency industry, including interoperability, security, and scalability, are what Quant seeks to solve.
The Quant technology makes use of Overledger, a platform that links blockchains, distributed ledger systems, and other networks. The intermediary layer that sits right above the blockchains is called Overledger technology, which enables communication and information sharing between them. Numerous industries, including supply chain, healthcare, banking, and more, have used the technology in various ways. Additionally, Quant streamlines procedures, lowers barriers to cross-border transactions, and permits safe data sharing.
With the release of its own NFT standard, QRC 721, which focuses on security and interoperability, Quant has made a number of advancements in the blockchain field. Another noteworthy milestone that Quant recently hit was reaching 90,000 active wallets. In 2022, 13,000 new wallets were added in a single week, greatly boosting the Quant network’s activity on the blockchain.
Will 2024 see Quant grow?
When Quant was first launched in 2018, its price was approximately $0.25, and it has since been rising. The token’s 2021 ATH was $428.38 in September, then it dropped to $100 in 2022. Since QNT kept booking enormous profits, the price has been falling and it is currently less than $1.
Based on the current market cap of $1,570,424,430 and our Quant price estimate, the cryptocurrency may reach an average value of $194.81 in 2024. When it comes to Quant investing, there is a mixed pattern or trend because QNT carries both risk and return.
With a potential price range of $159.71 to $229.91 in 2024, QNT presents a respectable investment opportunity and shows an upward trend in comparison to the previous year. Although it is a promising cryptocurrency idea, there could be some hazards involved. As a result, before purchasing QNT tokens, investors must exercise due diligence, study, and analysis.