Cardano and Quant prices drifted upwards on Sunday, Sep. 8 as the recent crypto sell-off eased a bit.<\/p>\n
Quant (QNT<\/a>) token rose for the second consecutive day, reaching a high of $70, its highest swing since Aug. 26. It rose by over 23% from its lowest point last week but remains 54% below its highest point this year.<\/p>\n Cardano (ADA<\/a>) rose to $0.3390, much higher than Friday\u2019s low of $0.30. Like other coins, it has dropped by almost 60% from the year-to-date high.<\/p>\n These tokens rose slightly as Bitcoin\u2019s (BTC<\/a>) sell-off moderated. After falling to $52,900 on Friday, Bitcoin bounced back to $54,500 on Sunday as some investors bought the dip. In most periods, altcoins tend to track Bitcoin\u2019s movement.<\/p>\n Cardano and Quant prices also rose as data shows heightened address activity. According to Santiment, this indicates that some investors are accumulating, and that often leads to a rebound.<\/p>\n \ud83d\udcca As traders await a potential Bitcoin\/crypto rebound, Cardano, Quant, and Holo are three notable assets seeing a sudden surge in address activity. When coins that are declining in value suddenly see rises like these, it historically raises the likelihood of a bounce. \ud83d\udcc8 pic.twitter.com\/udBULCmZYa<\/a><\/p>\n \u2014 Santiment (@santimentfeed) September 7, 2024<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n Another evidence is that Cardano\u2019s open interest in the futures market is rising. Data by CoinGlass shows that its open interest rose to $177 million on Sunday, the third consecutive day of gains. <\/p>\n It was slightly higher than Friday\u2019s $167 million. Cardano\u2019s active addresses have also risen to over 31,000, according to DeFi Llama<\/a>.<\/p>\n Similarly, Quant\u2019s futures open interest went parabolic, reaching a high of $12.15 million, its highest level since June 7, and much higher than last week\u2019s low of $6.50 million.\u00a0<\/p>\n Futures open interest is an important metric in the financial market because it shows the volume of unfilled orders.\u00a0<\/p>\n Cardano and Quant are some of the biggest players in the crypto industry. Cardano, with a market cap of $12 billion, is the 11th coin and its goal is to become the best alternative to Ethereum (ETH).\u00a0<\/p>\n However, over the years, the network has struggled to attract developers and users. As a result, it only has a handful of DeFi dApps and a total value locked of $191 million<\/a>. This makes it smaller than other newer layer-1 and layer-2 networks like Arbitrum and Sui. <\/p>\nCardano and Quant have higher wallet activity<\/h2>\n
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![\"Quant](\"https:\/\/crypto.news\/app\/uploads\/2024\/09\/Quant-open-interest.jpeg.webp\"\/)
\n<\/picture>Quant, Cardano: Big players in crypto<\/h2>\n