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Quant (QNT) has recently seen a series of positive developments that encouraged its community. Many believe that the project’s value could see a sizable increase moving forward.
Quant Partners with BIS and BoE
The project has been partnering with financial giants, seeking to build enterprise-grade distributed ledger technology solutions for the global financial market.
The latest such event has seen Quant team up with the Bank of England. Quant also joined hands with the Bank for International Settlements (BIS).
The partnerships with these and other financial institutions came in preparation for Project Rosalind. This project intends to explore the CBDC sector and the use of CBDCs in facilitating retail payments.
Market experts said Quant could see significant gains from these and similar partnerships.
Its collaboration with BIS could be particularly fruitful, as BIS operates in over 150 global markets.
Quant could open up new, previously unexplored growth avenues through the partnership.
However, Quant is also considered an underdog in this sector. Ripple has already claimed the global stage.
Quant will have to upgrade its network structure significantly to become a serious competitor.
Quant’s New Patent for Blockchain Transactions Marks Major Milestone
Another big move by Quant includes a patent for blockchain transactions in chronological order.
The patent aims to revolutionize the way transactions are processed on DLT. It pertains to the chronological ordering of blockchain-based transactions.
Experts believe this development could benefit blockchain by improving security, efficiency, and transparency.
The patent was titled Blockchain Communications and Ordering, and it acknowledged Quant’s innovative approach to chronological transaction ordering.
The method is unique and could help advance the blockchain technology landscape.
Quant’s general counsel, Helen Kemmitt, commented:
Patents underpin many of the world’s most important inventions. ‘Innovation’ is a word that’s overused in the finance and technology sectors – but a patent is an entirely objective seal that a firm is indeed a true innovator, which is why we’re unashamedly excited about this.
How could this Reflect on Quant’s Price?
The Quant price saw strong growth between July 28 and July 30. It increased from under $102.3 to $114.
However, after reaching this level, the price started spiraling down. It dropped over the last five days, sinking to $103.5 on August 3.
Moving forward, some believe that the project could see a recovery. More than that, some analysts claim that QNT is on the verge of a huge move.
This has yet to be confirmed, especially given that Bitcoin price is still dominant in the industry. With that said, Bitcoin is dropping after a recent surge back to $30,000.
Historically, Bitcoin price drops tend to draw the rest of the market with it. Quant has been following its own path lately, growing when BTC was struggling and dropping even when BTC saw small bull runs.
With that said, the token is not entirely under Bitcoin’s influence, and it can still perform separately if a strong enough catalyst moves its price.
BTC20 Steals Spotlight
Recently, the crypto industry saw a significant trend of major cryptocurrencies launching on Ethereum’s network to offer new opportunities.
The latest of them is BTC20 — a project that invites users to get back into Bitcoin.
BTC20 presale notes that in 2011 the BTC price was only $1 for a period of time. Those who bought it then and kept it over the years have made quite a bit of money.
BTC20’s goal was to repeat this point in Bitcoin’s life cycle as an ERC-20 token. The idea found massive approval and sparked huge interest among investors.
The presale was completed rapidly, and no more BTC20 tokens are available apart from those offered by presale participants.
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