Quant (QNT) price is poised for a short-term sell-off due to potential early-holder selling spree, according to on-chain data. An early holder deposited 118,088 QNT tokens worth $9.78 million into the Kraken exchange, sparking concerns of a local price top. This development comes after the same wallet sold 8,050 QNT tokens worth $742,000 at $92 on Uniswap decentralized exchange last month, leading to an 11% price crash.

Santiment's Age Consumed index suggests dormant tokens are on the move, historically preceding a price crash. The recent uptick in this index on June 17 forecasts a downtrend for QNT. Additionally, the Supply on Exchange index increased by 7.6% on June 17, indicating potential sell-offs or local price tops as investors send their holdings to exchanges to book profits.

This data suggests short-term downward pressure on Quant's price, potentially leading to a correction amid bearish market conditions. Investors should exercise caution and conduct thorough research before making any investment decisions.