A little-known cryptocurrency is on a parabolic rise and is recording all-time highs despite a prolonged market-wide correction.

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According to CoinMarketCap, the altcoin Quant (QNT) rose to an all-time high yesterday, from a seven-day low of $45.23 to $104.41 yesterday. The meteoric rise represents a 130% increase in just one week. Quant is a network that aims to bridge and connect all other blockchains on a global scale using what it calls the “Overledger Network”. According to the project, their network aims to function as an ecosystem for the entire digital economy.

In a recent tweet, popular crypto analyst Credible Crypto weighs in on QNT, noting how unusual it is for individual altcoins to skyrocket as the rest of the market consolidates. According to the anonymous trader, QNT could be a sign of more to come from the altcoin market.

“Altcoins don’t usually hit all-time highs in the middle of a bear market. Yes, there were some exceptions, but most failed to do so. Most altcoins peaked within 30 days of BTC reaching its ATH, then broke down and never recovered. I suspect we are seeing altcoins following QNT.”

Credible Crypto claims that the rise of QNT shows that crypto markets are not really entering a bear market:

“QNT has reached new all-time highs. If you need a sign that we are not in a bear market – here it is. Alternatives aren’t hitting all-time highs in the middle of a bear market. I bet once we start to recover from this fix, we’re going to see a lot more of them than other alternatives.”

Quant has since pulled back and is currently trading at $78.77. The cryptocurrency has risen over 700% to date after opening 2021 at $11.04.