The price of Canton Network's native token, CC, surged nearly 20% to trade near $0.150, accompanied by a 50% spike in trading volume, making it a top market gainer. The rally is attributed to a confluence of major catalysts, with the most significant being the confirmation that Nasdaq is joining the Canton Network as a Super Validator.
This institutional endorsement from Nasdaq is seen as a major credibility boost, reinforcing Canton's positioning as core infrastructure for regulated, on-chain finance, particularly for tokenized assets like U.S. Treasuries. The news was highlighted by Noah Jessop of Proof Group, who publicly endorsed the move.
Further momentum was generated as CC's market capitalization surpassed that of both SUI and AVAX, propelling it into the top 20 rankings on CoinMarketCap. This increased visibility attracted additional momentum traders.
Simultaneously, asset manager Bitwise filed for a basket of cryptocurrency ETFs that includes CC. While approval is not guaranteed, the filing places Canton firmly on the institutional investment radar. On-chain data supports the bullish narrative, with the network processing over 500,000 transactions in 24 hours and monthly activity exceeding 15 million. A deflationary burn mechanism has also seen over 450 million CC tokens burned this year.
Separately, Chiliz (CHZ) also experienced a notable breakout, gaining 10-15% and pushing above the $0.040–$0.042 resistance band to trade near $0.044–$0.045. Analysts suggest these moves reflect a broader market behavior of capital rotation into lagging altcoins with clear technical bases, rather than a full-blown altcoin season, as Bitcoin and Ethereum consolidate.
