A long-dormant whale has resurfaced, moving 118,090 QNT, valued at $9.76 million, to Kraken. This address, which accumulated a large amount of QNT six years ago, remained inactive during the 2021 uptrend.
It only became active this month and still holds a substantial 200,000 QNT, approximately valued at $16.53 million.
In addition to the whale’s activity, three relatively new wallets, all created within the last three weeks, have been transacting significant amounts of QNT. Each of these wallets has transacted 1,001 QNT, worth $80,000, within the past hour.
Currently, all three wallets hold over 10,000 QNT each, with a combined value exceeding $800,000. The whale’s sudden movement and the activity in the new wallets suggest a potential shift in QNT’s market dynamics. The reactivation of such a significant amount of QNT could influence market sentiment and price action, especially given the whale’s sizable holdings. The new wallets’ transactions indicate increased interest and potentially coordinated buying, which might impact the token’s liquidity and volatility.
These developments come at a time when QNT’s market performance is closely watched by investors. The reactivation of dormant holdings and the emergence of new, significant wallets could signal underlying market trends or strategic positioning by large players.
Market participants will be keen to observe how these activities unfold and their potential impact on QNT’s price and trading volume.
The interplay between the whale’s actions and the new wallets’ transactions will likely shape QNT’s short-term market narrative, prompting both caution and speculation among traders and investors.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: ramirezom/123RF // Image Effects by Colorcinch
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