Early QNT Whale Deposits $9.78 Million QNT to Kraken

Early QNT Whale Deposits $9.78 Million QNT to Kraken

On-chain data analytics provider Lookonchain analyzed that an early QNT whale address deposited 118,088 QNT (worth $9.78 million) to Kraken 25 minutes ago via X. The wallet had previously sold 8,050 QNT (worth $742,000) on a decentralized exchange (DEX) last month at an average price of $92 and currently holds 200,000 QNT (worth $16.55 million). This movement suggests that the whale may be preparing to sell a large amount of QNT on Kraken, or may simply be moving their funds to a more secure exchange. It is also worth noting that the whale's previous sale of QNT on a DEX was at a price significantly lower than the current market price, which indicates that they may be expecting the price of QNT to continue to rise in the future. ## Whale Activity and Market Impact The activity of whales can have a significant impact on the price of a cryptocurrency. When whales buy or sell large amounts of a cryptocurrency, it can create sell or buy pressure, which can lead to price movements. In this case, the whale's deposit of QNT to Kraken could be seen as a bullish signal, as it suggests that they may be planning to buy more QNT in the future. ## QNT Price Outlook The price of QNT has been on a steady upward trend in recent weeks, and it is currently trading at around $83. The whale's deposit of QNT to Kraken could provide further support for the price of QNT, and it is possible that we could see the price of QNT continue to rise in the coming weeks and months. ## Disclaimer The information provided in this article is not intended as investment advice. Investors should always do their own research and consult with a qualified financial advisor before making any investment decisions.