- Quant (QNT) price surged to nearly $117 on Friday but was trading around $100 on Monday morning.
- QNT eased after the rally as traders took profits following news that the blockchain platform participated in a UK CBDC test with the Bank for International Settlements (BIS) and the Bank of England.
- The collaboration is viewed as a potential long-term positive for QNT, though short-term downside could reach $80 if selling intensifies.
As major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) remain range-bound, some investors are locking in gains, contributing to weakness across crypto markets today.
The price of Quant (QNT) fell about 2% in recent hours and was trading just below $100 early Monday. The token had jumped to roughly $117 on Friday after news that Quant had worked with the BIS and the Bank of England on the UK’s central bank digital currency (CBDC) test.
Daily trading volume for QNT stood at approximately $32.3 million, with a 24-hour decline of about 26% compared with the previous day.
Quant collaborates on Project Rosalind test for UK CBDC
Founded in 2018 and based in the UK, Quant aims to help traditional financial institutions adopt blockchain technology. The project’s Overledger network, designed for blockchain interoperability, is often cited by analysts as an important infrastructure component for CBDC development.
On June 16, Quant announced it participated in Project Rosalind as a technology vendor alongside digital transformation partner UST. Project Rosalind was a pilot led by the Bank for International Settlements and the Bank of England to test concepts for a UK CBDC. Other participants included central banks and institutions such as the Bank of Canada, Barclays, Amazon, and Mastercard.
The trial focused on how application programming interfaces (APIs) could be integrated into CBDC systems. Results indicated that APIs could enhance payment functionality and security in CBDC deployments, and enable innovative use cases that support further digitization of the economy.
“For the first time, money is ready for the digital age,” said Gilbert Verdian, founder and CEO of Quant. “A CBDC will enable citizens and businesses to automate cumbersome payments and processes and implement logic into money.”
Verdian urged banks and other financial institutions to review the Project Rosalind report and begin planning smart money infrastructure strategies to prepare for future developments.
Quant price outlook
Quant’s involvement in Project Rosalind provided a bullish catalyst when the news broke on Friday, highlighting the platform’s potential relevance in the evolving CBDC landscape. That said, broader market dynamics remain the primary driver of short-term price action.
Since its 2021 all-time high above $427, QNT has fallen more than 76%. Continued bearish pressure could push the token below $80 if support around $95 fails. Conversely, a renewed market rally—potentially triggered by Bitcoin climbing back toward $30,000—could help QNT recover, with a possible medium-term target near $200. On the way up, resistance is likely around $105 and $120.
Investors should weigh Quant’s strategic progress and potential role in CBDC infrastructure against prevailing market sentiment and volatility when assessing the token’s outlook.