Quant Price Drops as Whale Sells $9.76 Million in QNT Tokens

The price of Quant (QNT) has plummeted nearly 5% in the past 24 hours, following a broader crypto market downturn that has pushed Bitcoin down to the $65,000 level. This downward pressure is further exacerbated by a large whale moving over 118,000 QNT tokens to the Kraken crypto exchange. This move comes after the whale had held these tokens for six years, missing out on a potential $130 million windfall during the 2021 bull market. The whale's sale coincides with a recent 11% dip in QNT price, highlighting the potential impact of large transactions on the market. The current bearish pressure has pushed QNT down to $79.85, significantly lower than its May 21 high of $102. On-chain data reveals that 92% of Quant addresses are currently experiencing losses, with the majority of holders purchasing QNT at prices above the current level.