Canton Network falls 13% amid $1.9M token unlocks; traders watch key zones
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CC price fell 13.17% in 24 hours to $0.08786.
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Futures saw $1.71M net outflow with Open Interest at $26.94M.
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Daily token unlocks total about $1.9M (21.55M CC).
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Represented Asset Value on Canton dropped 9.30% to $324.67B.
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Liquidation clusters above price target $0.13 with $0.10 as first resistance.
Canton Network [CC] fell 13.17% over 24 hours, trading near $0.08786 at press time.
The decline coincided with futures outflows and continued token emissions. Still, liquidation data showed liquidity sitting well above the current price.
Why is capital leaving CC futures?
CoinGlass recorded a $1.71 million Net Outflow from CC futures over 24 hours.
Futures outflows reached $11.92 million, exceeding $10.21 million in inflows. Over seven days, the market recorded a $4.52 million Net Outflow.
Meanwhile, Open Interest stood at $26.94 million. This showed that substantial leveraged exposure remained despite the price decline. That shift set up a more cautious short-term market structure.
Are CC token unlocks adding selling pressure?
DeFiLlama showed scheduled daily Canton Network [CC] unlocks worth about $1.9 million. The releases totaled roughly 21.55 million CC per day.
The schedule included app, validator, and super-validator rewards. Fresh token supply can weigh on price when demand fails to absorb it.
However, unlocks alone do not prove recipients sold their tokens.
Meanwhile, rwa.xyz reported $324.67 billion in Represented Asset Value on Canton. That figure was 9.30% lower than 30 days earlier.
Broadridge DLR accounted for Canton’s only listed RWA. This reflected a decline in represented asset value, not confirmed capital leaving CC markets.
Can CC rebound toward $0.13?
CC’s one-month Liquidation Heatmap showed sizeable liquidity clusters above the current price. The largest concentration sat near $0.13, with additional clusters between $0.10 and $0.12.
A rebound into these zones could force short sellers to close positions. That could accelerate an upside move.
Even so, liquidation clusters are not sell orders or guaranteed price targets. CC would first need to reclaim $0.10 before traders could focus on higher levels.
Canton Network [CC] price fell 13% as Futures Net Outflows reached $1.71 million, showing weaker trader demand.
CC token unlocks added about $1.9 million in daily supply, keeping selling pressure elevated near $0.09.