Former BlackRock vice president and Milk Road podcast co-host John Gillen has identified several factors he believes contributed to Quant’s (QNT) dramatic price breakout
For context, QNT staged a remarkable rally last month, climbing from around $65 in mid-September to $372 on September 27. This represented a 472.3% increase and sparked significant discussion across the crypto market
Against this backdrop, Gillen attributed the rally to a combination of institutional interest, scarce tokenomics, and increasing recognition of Quant’s role in financial infrastructure
In particular, Gillen highlighted Quant’s involvement in The Clearing House’s On-Chain Money Initiative. The initiative aims to support the clearing and settlement of tokenized deposits while connecting them with existing payment networks, including RTP and CHIPS
According to Gillen, Quant’s involvement in the initiative provides important institutional validation for its technology
Gillen also identified Quant’s tokenomics as another factor behind QNT’s strong market response
QNT has a maximum supply of 14.9 million tokens, with more than 12 million already in circulation. As a result, the asset has a relatively limited supply compared to many crypto projects that maintain large allocations for venture capital investors, teams, or early holders
Gillen argued that QNT therefore faces less potential selling pressure from locked tokens and scheduled token releases than some other projects
Consequently, he linked the token’s scarcity to its price reaction as interest in Quant’s technology and institutional adoption increased
Furthermore, Gillen highlighted Quant’s Overledger technology as another important part of the narrative
He described Overledger as an advanced infrastructure solution that has undergone extensive institutional evaluation. Gillen also pointed to Quant founder Gilbert Verdian’s background in cybersecurity and technology, including his previous role as head of cybersecurity for the UK Treasury
According to Gillen, Quant’s patented technology, institutional relationships, and leadership experience have helped distinguish the project from other speculative digital assets
These developments coincided with QNT’s dramatic price increase. The token traded around $65 for much of the previous month before climbing to $372 on September 27, 2026
From the $65 level, the move represented a 472.3% increase. However, QNT has since retraced significantly and has fallen below the $300 mark. At press time, QNT trades around $234, down 20.5% over 24 hours while remaining up 134% over the past week. Its market cap stands at $2.81 billion, placing it in the 36th position globally, according to CoinMarketCap rankings
Meanwhile, trading activity has also weakened following the rally. QNT’s 24-hour trading volume fell 43% to $468.73 million at the time of writing
