Quant (QNT) Surges 10%+ After Landing Digital Euro Deal—Because Nothing Says ’Decentralization’ Like Central Bank Collabs

Quant’s QNT token rockets past resistance levels as the blockchain interoperability player locks arms with Europe’s CBDC project. Guess ’permissionless’ now comes with paperwork.

The partnership—which somehow frames hooking legacy finance into blockchain as ’innovation’—sent QNT flying while crypto Twitter debated whether this was adoption or assimilation. Meanwhile, Bitcoin maxis muttered ’I told you so’ into their orange-pilled coffee.

Pro tip for traders: Next time a token pumps on bureaucratic news, maybe check if the ’partnership’ involves actual revenue... or just PowerPoint slides for bankers.

In fact, there has been a significant surge in daily active addresses recorded on the Quant network, going up by 25.27% according to data from TradingView. This indicates growing user engagement and interest in the platform, which often correlates with positive price movements.

Not only that, this month QNT also broke through a long-standing bearish trendline and surpassed the $80 threshold. This technical breakout suggests a potential for continued upward momentum for Quant’s token.

Most recently, Quant announced that has been tapped to partner with the European Central Bank on its project to develop a private digital euro. The ECB has been working on the issuance of a digital euro since as early as November 2023.

“We are honored to have been selected, and as leaders in distributed ledger technology, programmability and interoperability, we have the technical expertise, strategic insight and extensive institutional experience to deliver a programmable payment use case as part of the ECB’s wider vision for a digital euro,” wrote Quant in its official statement.