Quant (QNT) climbed 287% over the past week to $266.75 as on-chain data showed whale transactions hitting a record high, according to Santiment. The surge followed The Clearing House's September 24 selection of Quant for its tokenized deposit network, but it was also met with a wave of movement from long-dormant wallets.
Dormant wallets stir after three years
Lookonchain tracked two wallets that had been inactive for more than three years. Wallet 0x6d32 deposited 8,250 QNT, worth about $1.88 million, into Binance. Wallet 0xd633 moved 34,200 QNT, valued at $8.05 million, and has already sent 9,000 QNT ($2.12 million) to Coinbase and Kraken. The transfers added to a broader spike in large transactions.
Santiment counted 645 transactions of at least $100,000 on the Quant network in a single day, the highest reading on its chart. The analytics firm urged caution, stating that whale activity confirms large players are paying attention but doesn't tell whether every whale is buying or selling.
New wallets flood in after bank consortium news
The Clearing House, owned by 25 of the largest US banks, selected Quant on September 24. New addresses hit 7,516 on September 27, about 55 times the weekday average from September 1 to 15. On announcement day the count was 351. Active addresses rose from 2,064 on September 24 to 14,458 on September 27.
Dollar-denominated open interest rose nearly 9x over those four days, while measured in QNT it grew about 2.2x. QNT jumped to $373 on Binance on Sunday, its highest price since September 2021 and about 13% below the $427.42 all-time high.
No fresh catalyst, but metrics can't predict bank usage
Santiment found no fresh catalyst for September 26 or 27 and noted token metrics cannot show whether banks will actually use Quant's network. The Clearing House backed network is not due to open until the first half of 2027. That gap leaves plenty of time for speculation to run ahead of real adoption.
QNT topped CoinGecko's list of most-viewed coins on Tuesday, alongside $FIRO and $TRUMP. The attention reflects retail interest, but it doesn't guarantee staying power.
Cooling off could set a healthier base
Santiment said cooling prices and consolidation would create a healthier setup than another near-vertical run. The record whale activity cuts both ways: it shows large holders are engaged, but the deposits to exchanges also create potential sell pressure.
Whether the network sees actual bank usage when it opens in 2027 remains the open question. For now, traders are watching whether QNT can hold above $266 after a week that rewrote its recent trading history.
