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Quantstamp has dropped by 50 per cent in the month of May. In yesterday’s trading session, the price of Quantstamp dropped by 17 per cent, marking one of the largest one-day price declines of the cryptocurrency. However, in today’s trading session, Quantstamp is showing signs of a resurgence and was up by almost a percentage point in the early hours of the trading session. However, the prices have since resumed the bearish move, and the crypto is down by 2 per cent.
Since its launch, the Quantstamp platform has aimed to make smart contracts safer. Unfortunately, despite blockchain networks being some of the safest computer networks in existence, the problem with the validation of smart contracts has resulted in cybersecurity compromises. In the past few years, multiple cases have resulted in smart contracts getting hacked and investors losing millions of dollars.
The process of carrying out human-centred audits for smart contract validation is also expensive and error-prone. This problem, which has plagued the blockchain industry for years, has become the major focal point for the Quantstamp platform. The platform promises to solve the smart contract security problem by implementing a scalable and cost-effective system capable of auditing all smart contracts on the Ethereum network.
Since its launch, the platform has increasingly gained traction with every smart contract compromise that has resulted in investors losing their money. The platform’s growth has also seen it continuously grow in terms of its market capitalization.
In the past few days, Quantstamp has become one of the fastest rising cryptocurrencies after the past few weeks’ cryptocurrency crash. The resurgence has seen Quantstamp prices rise by 83 per cent in five days. However, yesterday’s trading session has eaten most of these gains after the cryptocurrency dropped by 17 per cent. Despite the early morning hours and continuation of the resurgence, today’s session also looks poised to continue the bearish trend.
Therefore, my Quantstamp price prediction expects the prices to continue falling. There is a high likelihood that we will see the prices dropping below the $0.030 level. In the next few trading session. There is a high likelihood that the prices will have hit the $0.027 price level.
However, in case the prices reverse by the end of today’s trading session by closing above $0.033, there is a high chance that my trade analysis has been invalidated. This will also mean a continuation of the recent bullish trend that resulted in an 83 per cent price resurgence.
This post was last modified on %s = human-readable time difference 13:20