Perhaps truer words have never been spoken, as a cryptocurrency called QNT, the native token of interoperability-focused Quant Network, has come out of oblivion with a staggering 450% jump in four months, decoupling from the broader market lull.
At press time, QNT was the 28th largest cryptocurrency per market capitalization, leaving the leading privacy-focused cryptocurrency monero behind and changed hands above $200, the highest since December 2021, according to data source CoinGecko.
QNT was the only top 30 coin boasting an overbought status – a signal flashed by a popular technical analysis tool called the relative strength index (RSI), indicating strong upward momentum. That's an envious achievement, considering the broader market has shown little signs of life since the May-June crash.
An RSI above 70 implies overbought conditions, while a reading under 30 suggests the asset is oversold. The RSI is a momentum oscillator that measures the speed and change of price movements.
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