QNT receives 50x OKX contract support after a 178% weekly gain

OKX launched a QNT perpetual contract with a leverage of up to 50 times

After the token price experienced a sharp rise in late September, OKX launched a Quant (QNT) perpetual contract with USDT as a margin, providing up to 50 times leverage. Driven by this news, QNT has risen by approximately 178% in the past seven days.

Contract Details and Market Performance

On Thursday, OKX officially launched the QNT Perpetual Contract, adopting a four-hour fund rate settlement mechanism. Currently, QNT is trading at approximately $249. Despite a one-day decline of 16%, the weekly increase was still as high as 178%.

The background of this listing was the QNT price soaring from below US$100 on September 25 to more than US$300 at the end of the month. According to CoinGecko data, the current price of the token is approximately $248.86, down 16.1% in 24 hours, but has increased 177.8% in the past week.

OKX announced that the QUANT/USDT perpetual contract will be fully open for trading on its website, APP and API interfaces at 08:00 UTC on October 1 (subject to regional availability). Contracts are settled in USDT and support round-the-clock trading.

High leverage and risk warnings

According to OKX's contract specifications, traders can use leverage of 0.01 times to 50 times in the newly launched QNT perpetual market. The contract uses the QUANT/USDT index as the base price reference and has a face value of 0.01 QNT.

OKX points out that funding rates are usually settled every four hours. If the funding rate touches the contract upper or lower limit at the time of payment, the settlement interval may be automatically shortened to one hour.

Perpetual contracts allow traders to establish leveraged long or short positions without setting a fixed maturity date. Although high leverage can amplify gains, it can also increase the risk of loss; when prices fluctuate rapidly in the reverse direction, the risk of a short position increases significantly. Therefore, this listing comes at a period of abnormal fluctuations in the QNT market. The latest data shows that QNT has a 24-hour trading range of approximately $242 to $305, with trading volume of approximately $451 million. Although trading volumes were down about 41% from the previous day, activity was still well above levels before the September rebound.

OKX did not explain whether QNT's recent price performance was the reason for this listing, nor did it make a prediction on the price trend of the token.

Correction after sharp gains in September

QNT's latest decline follows its most dramatic rebound in the cryptocurrency market in September. Historical data shows that the price of the token was about US$90 on September 24, and then quickly exceeded US$150, US$230, and eventually reached more than US$300.

At the current price level of about $249, QNT gave up some of the gains it gained at the end of September. Its market value remains at around $3.62 billion, ranking 34th among cryptocurrencies tracked by CoinGecko. The circulation volume is approximately 15 million QNT.

Previously, QNT broke through the US$300 mark and moved into the resistance area of US$343. The intraday high hit $329 at the time, and traders were closely watching technical levels around $312.50 and $343.75.

In the early stages of the rally, QNT surged more than 300% from its low in late September, thanks to new U.S. banking infrastructure partnerships and huge trading activity. Despite the current correction, the weekly increase is still significant. According to CoinGecko data, during the same period, the overall crypto market rose by less than 1%, while QNT rose by approximately 178%.

Bank of America agreement becomes main catalyst

The acceleration of price increases began when The Clearing House selected Quant to provide technical support for its On-Chain Money Initiative.

The Clearing House announced on September 24 that Quant will provide interoperability, orchestration and transaction management layers for a new network designed to clear and settle tokenized commercial bank deposits. Quant's technology will connect the planned network to existing payment infrastructure, including RTP and CHIPS. The Clearing House says its current U.S. payment network clears and settles more than $2 trillion in amounts per day.

The project is aimed at financial institutions and potential uses include corporate treasury operations, liquidity management, cross-border payments and digital asset settlement. Participating banks are expected to obtain access rights in the first half of 2027, and specific start-up participants have not yet been announced.

The deal provided major fundamental support for QNT to become one of the strongest performing weekly targets in the crypto market, before its gains accelerated further. Quant CEO Gilbert Verdian described the U.S. project as a step towards realizing programmable commercial bank currencies. His statement of future impact is part of the company's expectations, and The Clearing House has confirmed Quant's role and plans for 2027.

Bank of the UK has taken the lead in using Quant infrastructure

Quant has carried out practical work at Bank of the UK before its cooperation with the United States. UK Finance confirmed on September 24 that seven major banks have completed real-time customer transactions using tokenized sterling deposits.

Barclays Bank, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander Bank participated in the British Tokenized Deposits project. Quant built the sharing platform, EY was responsible for project management, and Linklaters developed the legal rulebook.

Transactions include person-to-person payments and re-mortgage use cases. According to UK Finance, tokenized deposits in the project remain commercial bank currency and retain the legal and regulatory characteristics associated with traditional deposits.

Quant continues to showcase the system to financial institutions through the Sibos conference in Miami, where this week's conference covers topics such as tokenized deposits, programmable settlements, and connections between distributed ledgers and existing banking systems.

The Clearing House expects that the U.S. network driven by its technology will be open to participating agencies in the first half of 2027, and said further details on participants and use cases will be released as development progresses.