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3 reasons why Quant (QNT) price rallied 125% this week

Real-world use cases and delivered value are important when evaluating the long-term prospects of a cryptocurrency project, and this is especially true in down markets when sentiment is low and the possibility of an extended bear market is a reality. 

One project that has been gaining momentum over the past month despite the market-wide downturn is Quant (QNT), an interoperability-focused project designed to help enterprises integrate and operate distributed ledger technology (DLT).

QNT/USDT 4-hour chart. Source: TradingView

Data from Cointelegraph Markets Pro and TradingView shows that following a brief dip to $44 on June 22 as the entire crypto market faced a sell-off, the price of QNT surged more than 125% to establish a new record high at $99.11 on June 25.

Coinbase bump in full effect

The rapid turnaround in the price for QNT following the pullback was due in large part to its listing on Coinbase Pro, which began accepting deposits on June 23.

Price action for QNT began to pick up on June 24 as trading via limit orders opened up on Coinbase Pro, and its addition to the front-side of Coinbase which includes the Andriod and iOS apps on June 25 saw another boost in trading volume and token price.

As a result of the momentum brought by the new listing, the average 24-hour trading volume for QNT soared on June 25.

Protocol upgrades attract attention

Prior to the Coinbase listing and market sell-off, QNT price began to gain traction around June 14 following the release of a mid-year technology update called Overledger 2.0. This is the project’s hallmark “DLT gateway that delivers interoperability across different systems, networks and DLTs,” according to the project’s website.

Excitement for the update had been building since early June as evidenced by the recognition Quant has received from several reputable sources including cloud infrastructure provider Oracle and the professional services network Deloitte, which included the project in its nominations for the Most Disruptive Fintech Award for 2021.

VORTECS™ data turned bullish ahead of Quant’s most recent rally

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for QNT on June 22, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. QNT price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for Quant actually reached a high score of 71 on June 22 as the market was selling off and was subsequently followed by a 125% rally in price over the next three days.

The NewsQuake™ service from Cointelegraph Markets Pro also highlighted the Coinbase listing announcement on June 24, which was followed by a 50% increase in the price of QNT over the next two days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

3 reasons why Quant (QNT) price rallied 125% this week

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Central Bank Digital Currency and Financial Stability (CBDC) | New Forms of Digital Money

Codezeros

Firstly, let’s start by explaining Central Bank Digital Currency, i.e., CBDC, which necessarily denotes the fiat-like currency of a nation. These are mostly present by making utilization of electronic records or digital token to represent the virtual form.

It has been years since digital currencies have started dominating the complete framework, just like some cryptocurrencies such as Ether and Bitcoin, which have encountered steep rise as well as a downfall. Amidst all of these, they had been in talks. Digital currencies work on a DLT referred to as blockchain technology.

Central Bank Digital Currency and Financial Stability (CBDC) | New Forms of Digital Money

Understanding CBDC

The blockchain for digital currencies has owed to magnum opus popularity in years, all thanks to its characteristics of decentralization and non-regulated nature. Bankers started to see this as a plausible danger to the old-style banking mechanism that is not only different from it in terms of functioning but also is different in terms of its decentralized and regulation-free nature. The traditional banking system works under the discretion of a primary authority like the central bank.

Now the cryptocurrencies that are available by newer sources or most unreliable sources raise the senses of awareness about the chances of thefts, scams, and hacks. And this lack of clarity is the reason for which there is no suitable reserve maintenance to back up the valuations of cryptocurrencies.

Now, seeing the inclination of these cryptos, central banks around the world are planning to launch their cryptocurrencies. Their version of cryptocurrencies will be monitored by the corresponding centralized banks of each country, and they are termed Central bank digital currencies. The base of the digital money will also be controlled by the CBDC. And this will be funded by monetary assets like foreign currencies or gold.

CBDC with blockchain for virtual currencies has the potential to bring ease and security of cryptocurrencies into one place. In this type of currency, the top authority in banking of the countries has all the responsibility and is liable to every action.

Could this adoption of CBDC bring Financial Stability?

Thus, it is much clearer now that CBDCs have the capability to provide what other cryptocurrencies are offering but in a more different way. It is providing virtual money with safety, accessibility, security, and transparency.

With the presence of a blockchain wallet for digital currencies, the public now has the power to access the lawful tender, even when you don’t have money. With the help of CBDC, both cash and cryptocurrency will be recognized as a legal mode of payment.

With the growing number of years, the usage of notes is gradually decreasing, as now people are more used to payment options like cards, contactless payments, and cryptocurrencies. There have been several negative cases concerning cash, although they are not excluded by central bodies.

So, now CBDCs will speed up the process of making society a cashless one. And with the declination in swipes with card-based transactions, it is presumed that people are rapidly adapting to novel approaches for making finance-related transactions.

Blockchain for financial stability can be considered as a viable option these days for making payments because it is government-regulated. The central bank’s digital currency gets completely aided and governed by the central bank, which raises the assurance and credibility of cryptocurrency. Now, these types of assurances are growing the hopes of companies that are using the technology of blockchain to invest freely.

Traditionally for making cross-border-based payments, RTGS infrastructure is mandatory for banks to offer interbank commitments. The most advantageous side of CBDC is that it can be used in making cross-border-based payments. When it comes to cross-border and interbank-based settlements, the CBDC is highly credible.

The current traditional set-up of banking lags in its efficiency of offering cross-border-based payments. Limitations like time lags even can result in exposure to several risks. But on the other side of the coin, the CBDCs are filled with several advantages like providing zero counterparty credit risk, anonymity, and 24hours accessibility.

But legalized wholesale-based CBDCs might fail to provide efficiency over the existing traditional banking set-up, as it needs to evolve furthermore.

Can CBDC Help in Improving Payment Systems?

More enhanced productivity in payment transactions is one of the plus sides of CBDC because it has a more reliable security set-up that can be utilized in the making of retail and also large-value-based payment mechanisms.

Now talking about the retail payment option, where it will further improve their payment efficiency, CBDC will get longer hours for settlements with quicker settlement in terms of wholesale and interbank payment systems.

Conclusion

Thus, the central bank, digital currencies, and financial stability can be considered to hold a firm position in the near future because it is faster and safer. With the up-gradation in its systems, it holds the potential to overtake the current banking set-up.

Central Bank Digital Currency and Financial Stability (CBDC) | New Forms of Digital Money

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Altcoin Roundup: Stablecoin pools could be the next frontier for DeFi

In times like these, when the entire cryptocurrency market is down and there is nary a sector-wide runup to be found, traders have to dig into data to see how the market dynamics may have changed to pinpoint signs of new growth. 

Stablecoins are the newest trend to emerge in the decentralized finance (DeFi) arena due to the resiliency they bring to the sector, especially since protocols that are more reliant on the dollar-pegged assets continue to offer token holders low-risk yield opportunities in turbulent market conditions.

Possible evidence of stablecoins rising influence can be found in the difference between the decline in Ether’s (ETH) price and the total value locked in smart contracts. The price of Ether declined by 20% more from its peak than the decline in the total TVL of the DeFi sector.

TVL in smart contracts vs. Ether price decline. Source: Glassnode

When one takes into account that most of the crypto market saw price declines on par with what Ether experienced, the fact that the DeFi TVL fell less percentage-wise than the price of Ether points to the stability offered by stablecoins.

Stablecoin marketcap increases tenfold

The total amount of stablecoins available in the market has skyrocketed from under $15 billion to more than $113 billion over the past year, led by Tether (USDT) and USD Coin (USDC), bringing an increased level of liquidity to DeFi protocols.

Top seven stablecoins by market capitalization. Source: CoinGecko

The top stablecoins are included in a large percentage of the liquidity pool (LP) pairs available on DeFi platforms, as well as being included as a standalone token that users can deposit on protocols, such as Aave, to earn a yield. This further makes them an integral part of the burgeoning DeFi ecosystem.

Stablecoins have, in fact, led to the creation of a specialized subset of DeFi protocols, which focus on yield farming stablecoins and provide a safer way for investors to earn a yield while minimizing risk.

Early on in the DeFi craze, protocols attracted new users and deposits by offering high yields that were typically paid out in the native token of the protocol.

With a majority of DeFi tokens now down at least 75% from their all-time highs, according to data from Messari, many of the gains that users thought they made through staking and providing liquidity have evaporated, leaving little to show for the risks taken on these experimental platforms.

The battle for stablecoin liquidity

The rise of successful stablecoin-focused protocols such as Curve Finance, which is a decentralized exchange for stablecoins that uses an automated market maker to manage liquidity, platforms such as Yearn.finance, Convex Finance and Stake DAO battle to offer the best incentives that will attract a larger share of the Curve ecosystem.

Supplying stablecoins to Curve, or as a stablecoin LP like as a USDC/USDT pair, amounts to the blockchain version of a savings account. Many of the top protocols, including the three listed above, offer between 10% and 30% yields on average for stablecoins deposits.

Related: How stablecoins stay stable, explained

Thanks to smart contracts, users can make deposits to automated, compounding stablecoin liquidy protocols, reducing the stress of the daily market gyrations.

Total market capitalization of the top 100 DeFi tokens. Source: CoinGecko

The aftermath of the May 19 sell-off is still impacting investors, and in times like these, the yield opportunities provided by supplying stablecoins to DeFi protocols is an attractive way to diversify a crypto portfolio and hedge against market downturns.

Want more information about diversification into the above-mentioned projects?

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Altcoin Roundup: Stablecoin pools could be the next frontier for DeFi

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Success Story: Shahriyar Nasrmalek

“The Certified NFT Expert™ Instructor-Led Training has helped me understand the topic of Non-fungible Token and this will 100% help me to advise customers in a much better way,” says Shahriyar Nasrmalek, who successfully completed his ILT course from Blockchain Council.

Shahriyar, who describes himself as a blockchain consultant, believes that Certified NFT Expert™ Instructor-Led Training has motivated him to continue learning about this growing and beneficial technology.

Over the last two years, he has been working with Asan Pardakht in Tehran. Presently he is working as a Technical Project Coordinator, and has served as Business Intelligence and Data Engineer and ITIL & ITSM expert in the same organization. 

Talking about his educational qualification, he has completed his bachelor’s in Applied Science (IT) from Fontys University of Applied Sciences. Being a technocrat, Shahriyar holds various certifications, including Acadium Apprenticeship, Blockchain:Foundation and Use Cases, and many more.

Now that he has completed his NFT ILT from Blockchain Council, when asked about his takeaways from the online training, he replied that “Overall it was good, the benefit of online classes is the knowledge and experience sharing which was happening at this course, very good. Although some questions were very basic questions, but reviewing basic stuff is always good.”

He further shares, “Since NFT is a new trend/topic nowadays, I have been researching it for a long time. Then I saw this course and wanted to be the 1st to hold this certificate. As a blockchain consultant, I had and have clients that want to know about NFTs and I wanted to be120% confident when talking to them, so I took this course which turned out to be very useful and amazing.”

Initially, Shahriyar was struggling to fully understand how NFT works and how it can be implemented in different sectors. After going through the Certified NFT Expert™ Instructor-Led Training, he feels more confident within this domain.

Overall, Shahriyar seems satisfied and confident with the online NFT training as he mentions, “I am sure it will help a lot and open new doors to me in my career.”

Success Story: Shahriyar Nasrmalek

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Solidity for Beginners: A Guide to Getting Started

Solidity is a pristine programming language formulated explicitly for developing smart contracts for the Ethereum blockchain.  The newly developed language has gained a significant role under Ethereum’s contracts framework that is of great importance in blockchain technology; in fact, you will be required to learn the language in order to code Ethereum Dapps (Decentralized Applications). The developers created this language with an aim to showcase the real potential of the system of smart contracts in the realm of digital exchanges. 

This article will provide you with a detailed understanding of smart contract systems, solidity language, functionality, and solidity basics. These fundamentals will lend you basic knowledge about the subject to help you in getting started.

Table of Content

  • What are smart contacts?
  • What is Solidity?
  • Solidity basics for beginners. 
  • How is compiling and testing of smart contact done?
  • An overview: Solidity flow of execution
  • Closing Thoughts.

What Are Smart Contracts?

The term smart contracts have gained a ton of publicity since its formulation; it’s been at the center of attention just like other popular terms like AI (artificial intelligence),  Machine Learning, Blockchain, etc. Smart contracts, also known as crypto-contracts, are automatic computer programs that empower currency tradings, digital asset exchanges, and other kinds of businesses. These exchanges are secured by a predefined set of rules summoned as a smart contract system. Thus, smart contracts not just guarantee that both the parties are adhering to the principles and regulations of the smart contract but also automatically implement the contract obligations.

What is Solidity?

Solidity is the principal programming language for assembling smart contracts utilized in the Ethereum blockchain. It is a contract-based language, which implies that smart contracts are liable for putting away the entirety of the programming reasoning on which the Ethereum blockchain runs. It is statically formulated to uphold essential elements like libraries, legacy and that’s just the beginning! 

Solidity is an easy language purposely made for an oversimplified way to provide genuine solutions for the issues of real-world use cases. The language has been implemented on the Ethereum platform, a Virtual Machine carrying out the blockchain network to foster decentralized public records to make smart contract frameworks. This programming language has similar functions as JavaScript and C++. Moreover, the language upholds state factors such as value types, data types and programming capacities. 

However, the language still deals with constant updates and modifications across the platform. Subsequently, an aspiring SOLIDITY DEVELOPER should be aware of the updates through forums of the Ethereum platform, chat rooms, and websites. Currently, Ethereum and Solidity are both going through visionary growth. 

Solidity Basics for beginners 

Solidity language supports the following general  value types:

  • Booleans: It returns a true or false value. 
  • Integers: The int/unit for both unsigned and signed integers are supported by Solidity.   
  • Address: An address can carry up to a 20-byte value. 
  • String Literals: String literals are depicted using either double or single quotes.  They imply trailing value zeroes. 
  • Modifier:  Modifiers ensure the fulfillment of the predefined conditions before code execution.
  • Mappings: Mappings return values related to a given storage site. 

These generic value types can be further integrated to develop complex data types.

How is the compiling and testing of smart contract done?

Once you have created a smart contract using Solidity on a local system, install an easy-to-use test environment that accepts simple Truffle commands. The compiler transforms the source code into the Ethereum Virtual Machine code, allowing you to test your code without needing to pay Ether coins.

An overview: Solidity flow of execution  

The syntactical consonance of Solidity with another programming language, JavaScript, has extensively improved the system’s usability. As a beginner, you must have a clear idea of the execution process under a solidity programming language command:

The Ethereum format documentation draws out an instruction text size of 32-byte containing a stack and memory model. The EVM generates a program stack that monitors the registries under information storage and program counter. To keep a successive stream to control the program, the program counter loops/jumps.

Additionally, the virtual memory lends short memory for information distribution that is expandable to some degree compared to a permanent storage allowance provided by the nodes of the blockchain.

The aim of creating solidity language for Ethereum is to maintain the determinism and accuracy of smart contracts. The node executes programming tools and smart contracts within the connected blocks in the Ethereum for creating a new block. 

This implies the code being executed is enrolled based on the sequence of the block.

While entering the new stage of the execution process, the program phase gets shifted to new storage exchanges. At first, these exchanges are performed at the miner’s location. After execution, the new block is dissipated to different working nodes within the blockchain.

To confirm the credibility of the framework of smart contracts, every node autonomously checks the block by correlating the state changes by using any local copy of the block. In cases where the state changes are deterministic, nodes of the blockchain accept the exchanges. Similarly, in a circumstance where the nodes could not reach an agreement, the execution of the block stops, and the network may end.

Closing Thoughts

Solidity is the language that has the power to develop the frameworks of contracts with robust functionality. Smart contracts have generated ample opportunities for further blockchain developments and multiple sectors of online business. Hopefully, you learned the fundamentals of solidity programming language to use while creating your smart contract.

Learn more about blockchain technology under the guidance of a highly qualified Ethereum expert at the BLOCKCHAIN COUNCIL.

Solidity for Beginners: A Guide to Getting Started

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