QNTX pumped 10.46% back to 60.29. Given the thin liquidity of this asset, such a move isn't surprising. The daily trading volume on Binance's contracts is 3.19 million, with a funding rate of zero. Currently, there are 31,635 positions, and the cost of long and short leverage is almost zero, indicating that the market hasn't shown extreme bias yet.

I attribute this round of volatility mainly to loosening macro expectations. The calls for a Fed rate cut in September have resurfaced, the dollar has dipped, and risk appetite is warming up.

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