SkinnyDipping
Listen. Meaning sellers sold him their cheap $QNT tokens between 220-262. Keep in mind. No one knows why these whale wallets bought almost 800k tokens at these prices yesterday. But we know as right now they are no longer in circulation.
Network users do not care what the price of $QNT is. It could very well be needed for fees and therefore is about to disappear from circulation.
It could be they have new information that may be coming quickly enough to justify buying there and holding for future use, such as staking.
It could also simply be longs deciding it was cheap enough to start a position there = holding.
Regardless shorts, that supply is no longer in circulation as of right now.
And The smart contract converts whatever currency the user pays their fees in, into QNT then those get locked up for a year.
Cheaper QNT = more tokens converted and taken out of circulation = Higher valuation regardless.
$BTC.X $ETH.X $QNT.X $XRP.X
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