Dormant QNT whales moved 42,450 tokens worth nearly $10 million after more than three years, with part of the holdings deposited to major exchanges.
Long-dormant Quant wallets have started moving millions of dollars in QNT following the asset’s sharp price rally, with some of the tokens already reaching Binance, Coinbase, and Kraken, according to Lookonchain.
The activity involves two wallets that had remained largely inactive for more than three years. Combined, they moved 42,450 QNT worth roughly $10 million at the time of the transfers
The moves come as QNT trades around $247, up roughly 27.5% over the past 24 hours, according to CoinMarketCap. The asset has traded between $196.11 and $357 during the period, while 24-hour volume has climbed to about $1.55 billion.
8,250 QNT Moves to Binance
Lookonchain identified one wallet, beginning with 0x6d32, that had been dormant for more than three years before sending 8,250 QNT, valued at around $1.88 million, to a Binance deposit address.
Arkham data shows the 8,250 QNT transfer occurring roughly 13 hours before the snapshot. The same wallet had interacted with Binance several years earlier before entering its long period of inactivity.
Moving tokens to an exchange increases their immediate availability for trading, although an exchange deposit alone does not confirm that the holder sold the entire amount.
Second Whale Moves 34,200 QNT
A larger wallet, beginning 0xd633, also became active after more than three years.
Lookonchain reported that the wallet moved 34,200 QNT worth approximately $8.05 million and had already deposited 9,000 QNT worth about $2.12 million into Coinbase and Kraken.
Arkham records show three separate transfers of 10,000 QNT from the wallet, worth about $2.32 million to $2.37 million each, alongside another 4,200 QNT transfer worth roughly $1.02 million.
One receiving wallet subsequently sent 2,000 QNT, valued near $455,400, to a Kraken deposit address.
QNT Rally Brings Dormant Supply Back Into Motion
QNT’s recent rally has been accompanied by a sharp increase in trading activity. CoinMarketCap places its market cap near $2.98 billion, with approximately 12.07 million QNT in circulation.
The rally accelerated after The Clearing House selected Quant to provide technology for an on-chain money initiative connecting existing U.S. payment infrastructure. QNT subsequently traded above $285 during the move, according to market data cited by Lookonchain.
The dormant-wallet activity adds potential exchange supply as QNT trades well above its levels from earlier this month. However, on-chain activity is moving in both directions: another newly created wallet withdrew 10,390 QNT worth $2.87 million from Coinbase, showing that exchange outflows are occurring alongside the dormant-wallet deposits.