This morning HBAR was the market’s best large-cap story. By evening it was the worst. Same news, same coin, twelve hours apart.
The crypto market has steadied after a rough start to the week. Total market cap sits near $2.86 trillion, up 1.1% on the day, and 61 of the top 100 coins are green. Bitcoin trades at $83,558, flat on the day (+0.27%) and down 2.03% on the week.
The calm has a reason. The Bureau of Economic Analysis releases August PCE inflation data on September 30 at 8:30 a.m. ET, two weeks after the Fed raised rates for the first time since 2023. Nobody wants a big position into that print.
Underneath the flat surface, two coins went in opposite directions on the same kind of news.
HBAR: From +22% to -16.5%
Hedera (HBAR) trades at $0.1043, down 16.5% over 24 hours. Earlier today it was up more than 20% and traded above $0.12.
The fuel was a September 23 announcement from The Hashgraph Group: its Hedera-based IDTrust identity platform for AI agents was listed on the IBM Cloud Catalog. A real partnership, but a narrow one. This is a partner’s product on a cloud marketplace, not IBM building on Hedera itself.
The market seems to have reached the same conclusion within a day. HBAR is still up 9.91% on the week, so the move has not been erased. But anyone who bought the midday spike is now sitting on a loss of roughly 15%.
Longer view: our HBAR price prediction.
QNT: The Rally That Has a Date Attached
Quant (QNT) trades at $270.48, up 12.84% today and 299.39% over seven days. It roughly quadrupled in a week.
The difference from HBAR is the size of the counterparty. On September 24, The Clearing House announced that Quant will power its On-Chain Money Initiative, a network for clearing and settling tokenized bank deposits, with connections to the RTP and CHIPS payment rails. Full details in our report on The Clearing House selecting Quant.
Now the honest part. The network is expected to open to banks only in the first half of 2027. The token has priced in a lot, very fast, for a product that is months from launch. HBAR just showed what happens when a pump outruns its news. A +299% week makes QNT the riskiest chart on the board for anyone buying now.
The Rest of the Board
| Coin | Price | 24h | 7d |
|---|---|---|---|
| QNT | $270.48 | +12.84% | +299.39% |
| NEAR | $5.03 | +6.29% | +15.16% |
| UNI | $8.98 | +2.73% | +1.01% |
| ETH | $2,691 | +0.74% | -1.20% |
| BCH | $307.66 | +0.28% | +15.90% |
| BTC | $83,558 | +0.27% | -2.03% |
| TRX | $0.335 | -0.30% | -3.81% |
| ZEC | $1,399 | -4.10% | -7.67% |
| HBAR | $0.1043 | -16.50% | +9.91% |
Two names worth a sentence each:
- Uniswap (UNI) and Bitcoin Cash (BCH) stabilized after heavy losses earlier in the session. Both are due to get CME futures on October 19, pending regulatory review, per CME Group’s September 22 announcement. BCH is still up 15.90% on the week on that news. Our coverage: CME’s Bitcoin Cash and Uniswap futures.
- NEAR is quietly one of the strongest large caps: +6.29% today and +15.16% on the week, with no single headline behind it.
The One Number That Matters
QNT +299% in seven days vs HBAR -16.5% in one.
Put those two numbers side by side and you have the lesson of the day. Enterprise-partnership news can move a token enormously, and it can reverse just as fast. The only difference between the two today is time. HBAR’s reversal happened within hours. QNT’s has not happened yet, and it may not, because a bank-owned clearing house is a much larger counterparty than a cloud listing. But “may not” is not the same as “will not”.
Bottom Line
The market is flat and waiting on PCE. Bitcoin holds $83,500. HBAR shows how quickly a partnership pump can unwind, and QNT is the rally everyone is watching to see if it does the same. A hot PCE print tomorrow would test every one of these moves at once.
FAQ
Why is HBAR down today? HBAR fell 16.5% to about $0.104 after rallying above 20% earlier in the day on news that a Hedera-based identity platform was listed on the IBM Cloud Catalog. Traders took profits once the size of the deal became clear. HBAR is still up about 10% on the week.
Why is Quant (QNT) up? The Clearing House selected Quant on September 24 to power its tokenized deposit network for US banks. QNT is up roughly 299% over seven days, though the network only opens to banks in the first half of 2027.
What is the crypto market doing today? The market is roughly flat to slightly up, with total market cap near $2.86 trillion and 61 of the top 100 coins green. Traders are cautious ahead of August PCE inflation data on September 30.
What is the Bitcoin price today? Bitcoin trades around $83,558, up 0.27% on the day and down about 2% on the week. See our bitcoin price page for live data.
When is the PCE inflation report? The Bureau of Economic Analysis publishes August personal income and outlays, including PCE inflation, on September 30, 2026 at 8:30 a.m. ET.
Is it too late to buy QNT? Nobody can say. A token that quadrupled in a week carries high reversal risk, as HBAR showed today. Never invest more than you can afford to lose.
Disclaimer: This article is for information only and is not investment advice. Cryptocurrency is highly volatile. Do your own research before making any financial decision.
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