A Key Detail Behind QNT’s Nearly 300% Four-Day Rally: Activity Came Later!

Quant’s QNT token surged nearly 300% in four days, while Santiment noted that the major spike in on-chain activity came two to three days after the project announcement.

According to data shared by Santiment, QNT’s price nearly quadrupled from the September 23 close through September 27. Most of the gains came after Quant’s September 24 Clearing House announcement, while the most pronounced movement in the number of new and active addresses was seen on Sunday, September 27.

The analysis highlighted the time gap between the announcement and on-chain participation. Santiment said it could not identify a new trigger to explain the surge on September 26 and 27.

New address count reached 7,516

The number of new addresses per day rose from 351 on the day of the announcement to 7,516 on September 27. Santiment reported that this was about 55 times the weekday average from September 1–15.

The number of active addresses also rose from 2,064 to 14,458 between those same two dates. Sunday’s figure was about 19 times the weekday average for the first half of September.

The chart shared showed QNT’s September 24 close at $90 and its September 27 close at $285. The calculation for the roughly 300% total increase, however, starts one day earlier, from the September 23 close.

Most of the increase in open interest came from price

Open interest, which represents the total value of futures positions that have not yet been closed, rose about 9-fold in dollar terms over the same four days. Measured in QNT, the increase was 2.2-fold.

This difference shows that a significant portion of the increase in dollar terms came from the rise in the token’s price. Although on-chain data also showed increased participation after the announcement, Santiment emphasized that these metrics do not answer whether banks will use the Quant network.