QuarkChain (QKC) is a flexible, user-oriented, and scalable blockchain solution that aims to meet global commercial standards. It consists of a two-layered blockchain – the first is a flexible layer of shards and the second is a root blockchain that confirms blocks from the first layer. Its innovative architecture means QuarkChain can handle 100,000+ transactions per second on-chain and support multiple transaction models, consensuses, and token economics in one network. QuarkChain is also compatible with the Ethereum virtual machine (EVM), meaning any decentralized app (Dapp) on Ethereum can be deployed on QuarkChain.

QKC is the native utility token of QuarkChain and is used as the unit of exchange between network participants. The price of QKC has seen significant change since it launched and if you want to know why then you’re in the right place. We’ve compiled everything you need to know about QKC price – as well as the factors which influence it.

QuarkChain Price History

QuarkChain (QKC) hit the market on 5 June 2018, opening at $0.34. The price of the coin initially rose until the token achieved its all-time high of $0.45 on its first day. It was worth about half that at the day’s close and prices continued to fall for the rest of the month. By the end of June, QKC was trading at $0.08. After consolidating throughout July, prices fell again in August until they reached a low of $0.02. The first bit of bullish momentum for QKC then carried it up to $0.07 in October. The rest of the year saw a gradual decline, so that QKC finished 2018 with a price of $0.04, meaning QKC had fallen by 91% since its peak in June.

Prices fell further to $0.03 in January 2019, before a trend reversal saw QKC climb up to $0.06 at the start of April. Prices then began to slump again, and after dropping below $0.01 in September, QKC didn’t recover for the rest of the year. By the end of 2019, QKC was worth $0.0027 – a 93% decrease since the start of the year.

Prices remained fairly static throughout January 2020, before some positive momentum took QKC up to a peak of $0.0064 in February. This didn’t last long, however, and prices soon bottomed out at $0.0011 following a 54% crash on a single day in March. This marked the start of a period of steady growth which saw QKC price triple over the next two and a half months. The growth then became more pronounced and more volatile as it carried QKC up to over $0.01 in August. These levels weren’t sustained for long though, and by November, QKC had returned to a low of $0.0039. QKC then traded in the $0.004 to $0.007 range for the rest of the year.

Prices began to rally immediately in 2021. QKC hit $0.01 again at the end of January and went on to reach a peak of $0.018 in February, before pulling back to $0.012 by the end of the month. The rally resumed in March and QKC surged to a peak of almost $0.06. By that point, QuarkChain had a market cap of over $300 million. After a pullback to $0.03, prices shot back up to $0.055 at the start of April. The rest of April took on a more bearish trajectory, however, as did May, during which a crash of 35% on a single day saw QKC trade as low as $0.01.

Analyzing QuarkChain Price History

QuarkChain price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis (TA) involves using various indicators while studying price charts in order to make sense of previous price movements. With QKC, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.

Fundamental analysis (FA), on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. QuarkChain raised $20 million in its initial coin offering (ICO) and its scalability and flexibility put it in a great position to meet the demand of global enterprises. In fact, the QuarkChain ecosystem already comprises more than 70 projects from a range of sectors, including financial services, data and information systems, Dapps and platforms, industrial services, and gaming and entertainment. These could be good signs for the project’s fundamentals.

Broader market trends have also played a role in QuarkChain price history. Its surge at the start of 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.

QKC’s sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.

QKC’s huge single-day drop back in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole crypto sector and the entire stock market, which experienced the biggest single-day crash since 1987.

The overall price trend of QKC tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of QuarkChain (QKC)

A variety of different things can affect the price of QKC, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider cryptocurrency and global economies.

QKC has a capped max supply of 10 billion, 64% of which is currently in the circulating supply, as of May 2021. This makes QKC a scarce asset, like Bitcoin, and therefore potentially a good store of value in the long term.

As QKC is required to pay for gas fees for transactions and smart contract executions, a major source of demand for the coin will be from QuarkChain users and developers building on the network. QuarkChain is already home to more than 70 projects and as the ecosystem expands further, QKC demand should increase.

The powerful transaction processing capabilities of QuarkChain mean that gas fees are very low. This could encourage Dapps and their users to migrate to QuarkChain from Ethereum where gas fees are currently high, and this is easily done as QuarkChain is EVM-compatible. The team also plans to add virtual machines for other blockchains, which could drive adoption and therefore boost QKC price.

Live QuarkChain Value and Market Cap

The live QuarkChain price varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux. 

Given QKC’s volatility, its current price can change by a large amount in a very short space of time. The market capitalization of QuarkChain is equal to the price of QKC multiplied by the number of QKC in the circulating supply. Market cap defines the market share of crypto, as well as its market cap rank.

QuarkChain Price FAQ

How is the price of QKC calculated?

QuarkChain price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying QKC than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of QKC different on different cryptocurrency exchanges?

QuarkChain price is based purely on trading as there is no standard global QKC price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for the various exchange platforms and those differences are what affect the price.

What will QKC be worth in the future?

It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of QKC. However, the upcoming introduction of more virtual machines could drive the adoption of the QuarkChain network among users and developers and boost the price of the QKC coin.

Conclusion

The price of QKC has been through a lot of change, going from highs of $0.45 to lows of about a tenth of a cent. Its journey hasn’t been a smooth one, however, as QKC’s volatility has led to surges and crashes along the way.

Many different factors have played a role in determining the price of QKC, including demand for the coin from QuarkChain network users and developers, the expansion of the QuarkChain ecosystem, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of QuarkChain and cryptocurrencies!