Canton Network surges on SEC-linked boost – Can CC extend gains?
The Canton Network's native token CC surged 11% in 24 hours, becoming the top daily gainer, following a key regulatory development. The U.S. SEC issued a non-action letter to the Depository Trust & Clearing Corporation (DTCC), clearing the path for tokenized treasury infrastructure on the network. This sparked significant bullish sentiment, with 89% of voters expecting further price gains. The news adds to a series of partnerships that have historically supported CC's price, including a recent integration that previously pushed it up 5%.
Market data shows strong bullish positioning. Open interest-weighted funding rates remain positive, indicating long dominance, with $14.28 million flowing into long contracts. Spot markets also saw net inflows of $6.40 million over the past week. However, liquidation heatmaps suggest caution, showing heavier liquidity clusters below the current price, which could lead to a short-term pullback. Despite this, overall sentiment remains constructive due to regulatory clarity, institutional partnerships, and sustained capital inflows.
ambcrypto12/21 01:02