$QNT has arrived again at the moment where one wall can decide everything. 👀
On September 29, Binance moved $43.2M $QNT into storage, and yesterday it returned $39.5M back to the hot wallet—almost at the very bottom of the drop from $300 to $224.
Since then, $QNT is already up +15%.
Right now the price has bumped into $267: there’s a sell order for about $482K sitting there. Above, up to $300, the order book is almost empty.
But there’s an important detail: open interest is barely increasing, and funding remains negative. It looks like the growth so far is more connected to short liquidations/covering.
If $267 is taken out along with rising open interest, the path to $300 will become much freer.
On September 29, Binance moved $43.2M $QNT into storage, and yesterday it returned $39.5M back to the hot wallet—almost at the very bottom of the drop from $300 to $224.
Since then, $QNT is already up +15%.
Right now the price has bumped into $267: there’s a sell order for about $482K sitting there. Above, up to $300, the order book is almost empty.
But there’s an important detail: open interest is barely increasing, and funding remains negative. It looks like the growth so far is more connected to short liquidations/covering.
If $267 is taken out along with rising open interest, the path to $300 will become much freer.