- Quant and Immutable were both listed on Robinhood’s exchange on Thursday morning.
- While QNT rallied more than 11% in the last 24 hours, IMX dropped over 3% alongside the rest of the market.
- Quant’s focus on interoperability and enterprise partnerships contrasts with Immutable’s exposure to the competitive Web3 gaming sector.
- Rising oil prices weighed on both cryptocurrency markets and equities, including Robinhood shares.
Cryptocurrency token Quant (QNT) rose more than 11% in the last 24 hours, while the rest of the market struggled amid Bitcoin’s (BTC) drop to under $70,000, after getting listed on Robinhood (HOOD). Immutable was also listed by the exchange on Thursday but did not show a similar rally.
QNT’s price crossed $77 on Thursday morning, marking a nearly two-month high for the token. On Stocktwits, retail sentiment around the coin rose to ‘extremely bullish’ from ‘bullish’ territory over the past day. Chatter remained at ‘high’ levels, up from ‘extremely low’ levels last week.
Meanwhile, Bitcoin’s price tumbled 2.3% in the last 24 hours to around $69,700. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘bullish’ territory over the past day.
Many users on the platform following Quant were bullish on the token’s Robinhood listing.
Immutable’s Token Fails To Rally Despite Listing
Immutable (IMX), the other token listed on Robinhood alongside Quant, did not see a similar rally. IMX’s price slid 3.6% in the last 24 hours to around $0.16 while the rest of the cryptocurrency market was down 2.1%. Retail sentiment around the token on Stocktwits rose to ‘neutral’ from ‘bearish’ territory over the past day, while chatter remained at ‘high’ levels.
Quant's platform aims to provide interconnectivity between siloed networks like Bitcoin, Ethereum (ETH), and enterprise systems via APIs. It has partnerships in place with Oracle (ORCL) and Bank for International Settlements (BIS). Meanwhile, Immutable is focused on Web3 gaming and NFTs, and competes in a crowded gaming niche with Immutable Passport wallets.
The uptick in oil prices Thursday morning weighed on both the cryptocurrency and equities markets. HOOD’s stock was down 1.63% in morning trade, with retail sentiment on Stocktwits trending in the ‘neutral’ territory.
Read also: Bitcoin Drops Below $70,000 After Brent Oil Surges To $119 Amid Middle East Attacks
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