The all-time high of QTUM coin is at $93 established in 2018 but with brutal market corrections, the price fell to as low as $1. The cryptocurrency has been operating at a price level of less than $5 ever since its golden days in 2018 and chances breaking resistance levels seemed bleak for Qtum.
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However, Qtum has been one of the cryptocurrencies stealing the spotlight in the recent bull-run as it gave a performance that made investors hopeful of the potential of the coin. From $2, Qtum surged to as high as $8 and the momentum does not appear to be slowing as the coin stands at $6. The market sentiment for Qtum continues to be bullish with twelve of the total twenty-six technical indicators standing at a buy position.
Qtum crypto is ranked at 92 in the market with a market capitalization of $595,209,460 and a 24-hour trading volume of $317,053,257. The price of the cryptocurrency saw a decrease of 1.39% in the last 24-hours and is now trading hands $6.07 apiece.
Traders are suggesting a long position for the coin. Per an experienced trader, the cryptocurrency is expected to skyrocket in the coming days. A price target of $80 has been set for Qtum and the coin may very well be heading towards its 2018 days of glory.
According to DigitalCoinPrice, Qtum coin is forecasted to be moving upwards over the years but slowly and gradually. Their projections show that by 2028, Qtum will be priced at $28. Wallet investor, on the other hand, is not bullish on the cryptocurrency in the long-term and predicts a fall of value to around $0.05 by 2025
What is QTUM?
Qtum (QTUM), pronounced as Quantum, was created in response to the problems faced by Bitcoin and Ethereum. Both the king and queen of the market has unique functionalities and unique problems. Qtum set out to combine the positive aspects of both the coins to in order to result in greater integration between block chains.
The Account Abstraction Layer (AAL) combines the Unspent Transaction Output (UTXO) of Bitcoin and the Account model of Ethereum. Hence, the cryptocurrency employs smart contracts but with the security that Bitcoin offers.
Does Qtum has the potential to grow?
Qtumhas been active in the field and is working towards achieving its goals of decentralized finance. Last year, the cryptocurrency integrated a decentralized exchange – QiSwap – into its network. The organization bagged a strategic partnership with Blockpass. Blockpass provides identity verification services for entities in regulated industries. Qtum, together with Blockpass, is set to work on on-chain verification solutions.
Given the recent performance of the cryptocurrency and the plans that the developers have for it, it can be possible that Qtumcoin achieve the target price set by traders and analysts. As the cryptocurrency market gains more popularity, coins like Qtum are bound to come under the spotlight as they are better suited alternatives for small traders.