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You guys know no channel works harder to keep you in the know about crypto.
And today, we're talking about Quant,
which has recently been on an enormous run up.
It's taken a Quant-um leap, if you will.
What a great show!
Everybody loves Scott Bakula.
From below about $40 in June,
Quant pumped all the way to about $115 in a matter of weeks.
That's almost a 3X gain.
Not the triple X you were expecting,
but, hey, we'll take it.
In the middle of a bear market, no less.
So, what's going on?
Is Quant going to keep running until it touches the moon?
And what exactly is causing the pump?
Well, we're about to dive in deep and give you a bit of a Quant update.
So, in case you're new to Quant,
it's a blockchain agnostic project that's attempting to fix interoperability
with its Overledger gateway.
In order to use the Overledger and have the ability to build projects on multiple blockchains,
companies need to buy Quant and hold it for at least a year.
Since its inception, Quant has formed exciting partnerships---
Oracle for Startups in 2019,
which allowed Quant to gain new clients in the financial payment and energy sector,
and the LACChain in March of last year.
Then it got on even more people's radar when it listed on Coinbase last June.
They developed an ISO standard that 57 countries have adopted so far.
Quant is especially exciting in an age
when governments are getting more and more interested
in central bank-backed digital currencies aka CBDCs.
Overledger's API would help countries tokenize their currency
and make it tradable on any blockchain.
But even with all the exciting things going on in the Quant-verse,
the bear market still took a healthy bite out of its price,
and it fell from an all-time high of almost $430 to just over $40.
Ouch!
You hear about the face-melting gains in crypto,
but this is an example of a face-melting 10X loss.
But the bears couldn't keep Quant down because the price began to inch upwards on June 17.
And trading volume started surging on July 8 according to CoinMarketCap.
About $160 million worth of Quant,
which is about 12% of Quant's entire market cap,
exchanged hands between July 8 and July 16
when trading volume peaked,
and the price has basically been consolidating around the $100 mark for the past few days.
So, the question remains.
Is there enough buying interest to catapult Quant into a long-term uptrend?
Or is this just a slightly more extreme correction during the bear market?
The surge in price might correspond
to a non-customer-facing maintenance release for Quant's Overledger.
Despite Quant claiming that the users wouldn't notice any new APIs, features or changes,
it still increased Quant's value as an asset.
And on June 30,
Quant announced that it was releasing the beta phase
of its premium API tokenization project---
Overledger Tokenise.
It allows interoperable tokens and digital assets on Ethereum and Polygon
and provides connectivity with the XDC mainnet and Bitcoin v23.
Quant Chief Technology Officer Peter Marirosans--
I hope I said that right--
said,
"Tokenise empowers users to create and deploy interoperable QRC20 tokens
and digital assets onto mainnets."
But other than that, there really hasn't been any major buzz announcements for Quant.
That's a pretty big one, in my opinion.
But a few news articles came out recently
detailing more about Quant's exciting partnership in Latin America.
It seems that one of the biggest challenges facing entrepreneurs in Latin America
is just how long it takes them to get paid.
People have been waiting weeks for payments,
and then they have to convert those payments into their local currency.
With inflation being such a big problem basically everywhere,
but especially in Latin America,
this can be a huge problem.
If your item is worth a certain amount when you sell it,
and then a few weeks later, it's worth much less,
that's going to hurt business.
But Quant and the LACChain want to change this.
Now, the LACChain integrates the blockchain into the core of the Latin American banking infrastructure
and allows people to be paid in a new digital Latin American dollar.
So people can set their prices in this new digital currency
and then redeem it for their local currency by just using their phone.
It's better, much faster overall.
LACChain and the digital Latin American dollar is also cross-border,
so this is going to open up a whole new international market
to Latin American entrepreneurs.
And Quant CEO Gilbert Verdian has even bigger plans!
He sees a world in which Quant and LACChain connect to the banking systems of America,
Europe, Asia and Africa.
He says they're already seeing evidence of regional trade networks.
About 1.6 million people have benefited from this technology already.
And the trading and payments element of the LACChain
which is completely powered by Quant's Overledger technology
is supposed to go live in 2023.
Maybe investors are stocking up on Quant in anticipation of the 2023 release date.
But the biggest advantage to Quant is that it's currently in the running
to be one of the famous ISO 20022 compliant cryptos in the near future.
I go into detail on ISO 20022 in this video.
But to summarize,
the 20022 standard is the new way that banks will be using transactions for the foreseeable future.
All the ISO-approved cryptos and those seeking approval
will have a much higher chance of surviving this bear market
and any bad mojo from the SEC in the years to come.
No matter what happens with Quant,
you want to keep it secure.
And you can do that on a Ledger cold wallet.
Click the link below in the description to buy one direct from Ledger,
which is the only way to buy a verified Ledger device
that hasn't had its seed phrases skimmed by an Amazon seller.
That's a real thing.
Be very careful out there.
Question is,
is now a good time to buy Quant?
Well, keep in mind, guys,
not any of this is financial advice, of course.
But we never suggest jumping on a green candle.
I know it's hard to watch a project make such massive gains
especially during a bear market
when it seems that all we've been able to look forward to is more and more red.
But if you're interested in Quant,
wait for some consolidation and a pullback.
The RSI is still very high.
And I believe we're still going to see more downside in the crypto industry as a whole
before the end of the year.
However, Quant is trying to get above its 200-day simple moving average.
If it succeeds in the middle of a deadly crypto winter,
that could foreshadow some pretty big things for Quant.
Also, keep in mind that 83% of Quant's overall supply has been minted.
But that supply is relatively low in comparison to other projects.
So Quant is potentially susceptible to pump and dump whale shenanigans.
Just be careful out there, guys.
But remember,
when in doubt, zoom out.
It never fails.
Quant has enormous potential and was over $400 during the bull run.
Even its current price is a good bargain.
That's why we always recommend dollar-cost averaging.
If you sit around waiting to buy the exact bottom of a project,
you might just end up like this guy.
Maybe don't go all in,
but take a little nibble nibble on that price.
Descending waterfall buy orders never hurt nobody.
So, what do you guys think?
Are there any Quant holders or Quant curious investors in the audience?
If so, leave a comment
and let us know whether you think it's a good time to buy or not.
And as always, make sure to give this video a like and a subscribe
so you can stay up to date on all the hot projects in the cryptoverse.
We'll have more reviews coming for you guys soon.
Now, for today, that's all I got.
Be blessed.
BitBoy out.