Thread by @cassinicapital1

#QNT On-Chain 🤯

A short thread 🧵

MIND BLOWN! 👇

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$QNT #cryptocurrecy #Crypto #Cryptos #cryptoworld #cryptomarket

Last week I released a mega thread breaking down $QNT from a technical perspective. If you haven't read that yet check it out:

https://twitter.com/cassinicapital1/status/1571482174700032000

Today, I want to share with you 1 simple on-chain chart that has blown my mind. I haven't seen anyone else mention this 👇

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We know that Metcalfe's law is a great way to derive the value of a crypto asset. It states that the value of a network is equal to the square of the number of users. More users = more valuable network. Let's look at a chart of the active users of #QNT:👇

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$QNT price is the top line in grey. Active addresses is the black line below. Due to Metcalfe's law they are tightly correlated.
However, there is a divergence between active addresses and price. #QNT active addresses are very close to ATH 🤯
Price has some catching up to do!
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Remember in my TA thread where I showed the current PA was similar to March/June 2020?

Check out how similar the active addresses chart is in June 2020. Addresses were nearing ATH like today:

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For me, this is an extremely bullish confluence between on- chain and TA. There are no certainties in investing but we look for confluence to put the odds in our favour. It is going be very interesting to see how $QNT progresses over the next 6-12 months.

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I hope you all found this thread useful. Please kindly like, comment, share and follow me for more crypto insights.

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@2Quant2