Quant Jumps 158% and Midnight Rallies as Lighter Sinks
Quant and Midnight led weekly crypto gainers with surges of 158.3% and 96.5% respectively, while Lighter declined 28.7% amid broader market shifts.
Bitcoin traded near $84,600 on Oct. 3 while various altcoins posted significant weekly moves, according to CryptoNews. Quant and Midnight led the week's top crypto gainers, rising 158.3% and 96.5% respectively. Conversely, Lighter fell 28.7% to lead weekly losses, while MemeCore, Ethena, and Zcash registered double-digit declines.
Gainers Driven by Infrastructure and Network Access
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Quant’s 158.3% rally followed its selection by The Clearing House on Sep. 24 to power the On-Chain Money Initiative, a network designed for clearing and settling tokenized commercial-bank deposits. The initiative aims to connect with existing U.S. infrastructure including RTP and CHIPS, with availability for participating financial institutions expected in the first half of 2027.
Midnight climbed 96.5% to $0.04988 with approximately $124.9 million in displayed trading volume. The network's latest development update confirmed that permissionless smart contract deployment went live on mainnet, allowing developers to deploy directly without a mandatory security review on the Preprod testing network.
Declines Across Derivatives and Unlocks
Lighter led weekly losses, dropping 28.7% to $3.49 following Robinhood’s announcement of a U.S. perpetual-futures rollout involving Bitstamp. Ethena dropped 14.7% to $0.232 ahead of an overhaul to its investor vesting schedule, where lead investors agreed to release all remaining original investor tokens starting Oct. 5. Zcash fell 14.4% to $1,313.37 with about $726.7 million in trading volume.
Key facts
- Bitcoin traded near $84,600 on Oct. 3.
- Quant led weekly gains with a 158.3% increase following its selection for The Clearing House’s U.S. tokenized deposit network.
- Midnight rose 96.5% to $0.04988 as permissionless smart contract deployment went live on mainnet.
- Lighter led weekly losses, falling 28.7% to $3.49 following Robinhood’s perpetual-futures rollout.
- Ethena dropped 14.7% to $0.232 ahead of an accelerated investor token release.
Source: crypto.news
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