Cardano (ADA), Quant (QNT), and Holo (HOT) See a Sudden Spike in Address Activity, Raising Optimism about an Upcoming Recovery

As traders eagerly await a possible rebound in Bitcoin and the broader crypto market, three notable assets—Cardano (ADA), Quant (QNT), and Holo (HOT)—have

Bitcoin and the broader crypto market have been battered throughout 2024, leading to a wave of pessimism among traders. However, as the dust settles and the markets prepare for a potential rebound, three notable assets have seen a sudden spike in a crucial metric—address activity.

This metric tracks the number of unique crypto addresses that are either sending or receiving a particular asset in a given block. Historically, when coins experiencing a decline in value suddenly witness such activity increases, it often indicates a potential price bounce.

Among the assets showing this promising sign are Cardano (ADA), Quant (QNT), and Holo (HOT). While ADA and HOT hit their highest levels of address activity in March 2024, QNT reached its highest since November 2022.

This growing on-chain activity has raised optimism about an upcoming recovery for these assets, especially in the case of Quant, which is known for its unique overledger technology.

As thousands of wallets send small amounts of $QNT to Coinbase 10, which holds Quant’s treasury, speculation is mounting that the exchange might be preparing to introduce staking for $QNT.

This possibility is further supported by recent updates on Quant’s official site and new patents centered around the token. One crypto observer on Twitter highlighted this activity and expressed their hope for at least 5% in staking rewards.

Something’s up with $QNT! Thousands of wallets are sending small $QNT amounts into Coinbase 10, which holds a QNT Treasury wallet. With recent updates on Quant's site and new patents focusing on $QNT, could Coinbase staking be coming soon? At least hoping for at least 5%… https://t.co/DlHk7vxo5K

Quant’s CEO, Gilbert Verdian, also made an unexpected return to Telegram on September 7 after being absent for two years. Notably, Verdian shared an update on regulatory clarity for the project.

This return to the messaging platform sparked excitement among the crypto community, especially since Verdian's last Telegram message revealed the launch of Quant Chain 2. Now, in his latest message, Verdian revealed that Quant has recently received clarity.

“We now have confirmation that Quant has received regulatory and legal clarity around ‘staking and other forms of rewards,'” reads an excerpt from a crypto news report on Verdian's Telegram activity.

Apparently, this clarity has led to an update in their Terms and Conditions, which could be a key step toward offering $QNT staking on platforms like Coinbase. Many are now eagerly awaiting the announcement of at least 5% staking rewards for $QNT.