Canton Network price has risen sharply in recent weeks, catching the market's attention with a weekly increase of just about 40%. The rally accelerated after Canton announced a strategic collaboration with The Depository Trust & Clearing Corporation early last week.
This development placed CC at the middle of institutional tokenization discussions and sparked renewed investor interest.
Canton Network and DTCC join forces
DTCC and Canton Network confirmed a partnership last week to support the tokenization of assets held by The Depository Trust Company on Canton Network. The aim of the initiative is to enable regulated financial institutions to have a compliant, privacy-friendly blockchain infrastructure. This move underlines the shared commitment to drive adoption of digital assets.
The partnership highlights Digital Asset’s long-standing collaboration with DTCC on institutional-level blockchain solutions. Market participants interpreted the announcement as a significant endorsement of Canton's architecture. As a result, demand for CC grew rapidly, reflecting growing confidence in its role in regulated financial markets.
Canton holders outperform Chainlink
Investor participation remained high over the past week, supporting the sustainability of the rally. On-chain data shows 23,972 lively addresses within the last 24 hours. These addresses collectively executed greater than 500,000 transactions, indicating strong network engagement.
For comparison: the comparable activity of all established tokens stays lower. XRP recorded about 39,000 lively addresses, Cardano posted about 25,000, and Chainlink logged almost 4,000. This comparison suggests that the worth increase of CC is on account of actual usage quite than speculative spikes or low liquidity.
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Canton activity. Source: Cantonscan
Technical indicators further support the optimistic outlook. The Relative Strength Index is currently above the neutral zero line and signals positive momentum. This positioning confirms that buyers remain on top of things and aligns with the continued increase in network activity and transaction volume.
However, caution is suggested because the RSI is approaching overbought territory. Such conditions often precede short-term setbacks. As long because the indicator avoids breaking through extreme levels, CC’s overall uptrend stays technically intact.
CC RSI. Source: TradingView
CC price hits monthly high
At the time of writing, CC price was around $0.106, up nearly 40% weekly. The parabolic SAR continues to signal an lively uptrend. This indicator suggests that the altcoin could extend its gains if overall market conditions remain supportive.
A decisive break above the $0.109 resistance could push CC towards $0.118. Clearing this level could pave the approach to $0.133. Such a move would construct on the token’s recent monthly high and reinforce the bullish structure.
Downside risks remain as momentum weakens. Overbought conditions or profit-taking could put pressure on price motion. A fall below $0.101 could see CC decline towards $0.089, invalidating the present bullish thesis.
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Article source: beincrypto.com
The post Canton Network (CC) overtaken top coins as price hits 4-week high appeared first on Crypto Adventure.
