On Monday, September 28, altcoins Quant (QNT), Bitway (BTW), and XDC Network (XDC) surged with double-digit gains, bucking a broader market cooldown that saw both Bitcoin and Ethereum decline by 2%.
Quant Leads Rally on Banking Integration
Quant (QNT) topped CoinGecko's 24-hour gainers among the top 100 cryptocurrencies, jumping 32.85% to $238.2 and extending its weekly performance to 260%. The rally built on momentum that began on September 24, when The Clearing House—an entity owned by 25 of the largest US banks—selected Quant to power its US tokenized deposit network, which is scheduled to launch in the first half of 2027. Furthermore, UK banking giants Barclays, HSBC UK, and NatWest executed live tokenized sterling payments on Quant's platform on the same day. Despite the massive surge, QNT remains approximately 47% below its all-time high of $427.42 set in September 2021.
Bitway Hits All-Time High While XDC Capitalizes on Sibos
Bitway (BTW), a Bitcoin-focused Layer-1 blockchain, rallied 28.3% to $1.38 after reaching a new record high of $1.43 earlier in the day. The token now holds a market capitalization of $3.7 billion with a 75% weekly gain, continuing momentum noted when Quant and Bitway led weekly gains. While no single catalyst emerged on Monday, traders pointed to the ongoing Bitway Booster Season 5 campaign on Binance Wallet, which runs until October 2, alongside broader market rotation as the Blockchain Center Altcoin Season Index stood at 59.
Meanwhile, XDC Network (XDC) rose 11.66% over 24 hours to $0.034, bringing its weekly gain to 20%. The network is benefiting from the opening of Sibos in Miami—the annual SWIFT-led banking event running through October 1—where team members from XDC and its trade-finance protocol Contour are presenting. XDC also expanded its validator base recently, onboarding South Korean custody provider DSRV on September 18 and Belgian tokenization firm SettleMint in June, following its July launch of the XDC AI marketplace.
Key Takeaways
- Quant (QNT) surged 32.85% to $238.2 following banking pilot announcements with The Clearing House, Barclays, HSBC UK, and NatWest.
- Bitway (BTW) reached an all-time high of $1.43 before settling at $1.38, backed by a $3.7 billion market cap.
- XDC Network (XDC) advanced 11.66% to $0.034 amid attendance at SWIFT's Sibos conference in Miami.
Why It Matters
These divergent gains demonstrate that concrete institutional adoption news and targeted promotional catalysts can override macro headwind trends when major assets stall. However, short-term risks remain as Bitway's promotional campaign ends on October 2 and XDC's Sibos conference concludes on October 1. For Quant, while institutional banking ties offer fundamental credibility, long-term sustainability will depend on actual execution ahead of The Clearing House's 2027 network launch.
