Quant (QNT) Declines 7% Amid Broader Crypto Pullback

Quant (QNT) has experienced a 7% drop in the last 24 hours, primarily due to a broader macro-driven crypto market pullback and its position on fragile support following a strong prior run.

Macro Risk-Off After Hot US CPI

The entire crypto market faced pressure over the last 24 hours, with the total crypto market cap down about 3% and altcoin market cap also lower. Trading volume jumped, indicating a risk-off day with elevated turnover. Bitcoin and major cryptocurrencies sold off after a US CPI release came in above expectations, increasing odds of another Federal Reserve rate hike and pushing Treasury yields to multi-decade highs, which weighed on risk assets including crypto. For…