Quant has dropped sharply this month, erasing some of the gains made between November and December last year. Quant ( QNT ) price has dropped to $110, down by almost 36% from its highest level in December. The coin’s decline happened as on-chain data pointed showed that the number of addresses in the network is no longer growing. According to IntoTheBlock , the total addresses with balance has stagnated at 144,000. As shown below, the account growth has been stagnant since January last year. Quant Network address count | Source: IntoTheBlock More data shows that the number of new addresses in the network has dropped to less than 300 a day. This slow growth is likely because many crypto traders have rotated from many traditional coins to newer tokens like Official Trump ( TRUMP ) and Fartcoin. Quant is a popular crypto project that provides services in the payment, capital markets, and supply chain solutions. It has become a major player in the Real World Asset or RWA tokenization industry, through its overledger solution. Overledger is an enterprise-ready solution that lets participants issue interoperable tokenized assets between different blockchains. Analysts believe that RWA will be a big deal in the future as many physical assets are tokenized. For example, McKinsey estimates that the industry will be worth $2 trillion by 2039, positioning Quant and Chainlink ( LINK ) as key players. You might also like: BlackRock CEO Larry Fink calls for tokenized stocks and bonds Quant price has formed a risky pattern QNT price chart | Source: crypto.news The daily chart shows that the QNT price has formed a high-risk chart pattern that could lead to a strong bearish breakdown. It peaked at $171.3 in December and then plunged to $95 this month. It has now been in a consolidation phase, forming a bearish flag pattern. This pattern has a long line followed by a rectangle pattern and is usually followed by a strong bearish breakdown. Quant price has also dropped below the Ichimoku cloud indicator and the 50-day moving average. The MACD indicator has also moved below the zero line. Therefore, the QNT price will likely have a bearish breakdown, with the next point to watch being at $80.6, its highest swing in September last year. You might also like: Algorand price eyes a 50% surge as active addresses, transactions rise
