"It's going to crash or not, even now the price of Quant has gone down."
The short-term bearish pressure on the Quant cryptocurrency (QNT) was triggered by early holders who deposited 118,008 QNT worth $9.78 million on the Kraken digital asset exchange.
It is well known that QNT previously fell by 11% shortly after the wallet sold 8,050 QNT worth $742,000 while its price was trading at $92 on the Uniswap (UNI) decentralized exchange last month.
So here it can be seen that the event can not only affect sales but also become a catalyst that can start the movement of corrections in the middle of the entire crypto market also experiencing a drastic decline.
The increase in the Santiment Age Consumed index suggests that the token is inactive, i.e. the token stored in the wallet for a long time is moving and can then be used for up or down movement in the short term.
Through observation, history shows that the conversion was followed by the fall of QNT and this means that the price is ready to experience a massive downward trend in the near future.
While Santiment's data on Supply on Exchange, which surged, also showed the potential for sales or the formation of a price peak, while the decline showed the accumulation of whales.
In the case of QNT, Supply on Exchange which increased 1.68 from 1.56 shows that investors are sending their holdings into the exchange to realize profits that can trigger price increases or decreases.
As of this writing, QNT price plunged by 8.94% to $75.28 in the last 24 hours with a market capitalization of over $908 million then recorded a 12.90% decline over the last week.