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QTUM Rallies ahead of Binance Blockchain Week, where it is a premier sponsor.
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Binance Blockchain Week is a big deal and will draw crypto investors from across the globe.
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QTUM price action points to more gains in short to medium term.
Qtum QTUM/USD has been one of the top-performing cryptocurrencies over the last 24-hours. In this period, QTUM is up by over 20% and gaining. While this is purely price action at play, there is a good chance that QTUM could sustain the rally over the next couple of days. This has a lot to do with the upcoming Binance Blockchain Week that will take place in Dubai on March 28th.
QTUM will be the event's premier sponsor, and quite naturally, this means it will attract a lot of attention. Under the current setup where bullish momentum is on the rise across the market, this could trigger a major rally in the price of QTUM into April.
For context on how big the Binance Blockchain Week deal is, it will have more than 80 influential speakers, over 10 panels and fireside chats, and over 10 keynotes. This means it will likely pay attention across the global crypto community, and even people who may not know how powerful QTUM is will likely be interested in the project.
However, besides the short-term attention, QTUM has all the hallmarks of a winner, especially now that bullish momentum is rising across the market. QTUM is a blockchain platform built on the Bitcoin UTXO but runs on PoS. This makes it energy efficient while leveraging on the simplicity of the Bitcoin code. The result has been huge adoption for Dapps, which can only grow going forward.
QTUM moving averages point to further gains
Source: TradingView
In the last 24-hours, QTUM buying volumes have shot up. The 50-day and 100-day moving averages are looking up, while the 20-day moving average is outpacing them at an accelerated rate. This indicates that buying volumes are rising fast, and the price could rally even further in the short term.
Summary
QTUM is rallying at the moment and is up by over 20% in under 24-hours. QTUM is likely to get a boost from its sponsorship of the Binance Blockchain Week on March 28th. Long term, QTUM fundamentals are likely to drive its price even higher.