Canton Network's native CC token dropped 13.17% over 24 hours to trade near $0.08786, as roughly $1.9 million worth of newly unlocked tokens added fresh supply to a market already struggling to find buyers. The network releases about 21.55 million CC tokens daily through app, validator, and super-validator rewards, a steady drip that has been outpacing demand in recent weeks.
Derivatives data compounded the picture. Futures tied to CC saw net outflows of $1.71 million over 24 hours and $4.52 million over seven days, even as open interest held at $26.94 million — a sign that leveraged positions are still open even as capital exits the token.
Two zones traders are watching
A one-month liquidation heatmap cited by AMBCrypto shows the largest cluster of liquidity sitting near $0.13, with a secondary band between $0.10 and $0.12. Both levels represent potential upside targets if buyers return, but analysts note that CC would first need to reclaim the $0.10 support level before either zone becomes realistic. Liquidation clusters mark where leveraged positions are likely to unwind, not guaranteed destinations, so a failure to hold $0.10 would likely open the door to further downside before any recovery attempt.
The tokenomics tension behind an RWA leader
The sell-off is notable given Canton's position in the real-world asset space. The network underpins roughly $324.67 billion in represented asset value, primarily tied to Broadridge's DLR repo-market settlement product, and remains one of the largest RWA-linked chains by that measure — even as that headline figure has slipped 9.3% over the past 30 days alongside the token's own decline. Other RWA-focused networks have leaned on similar validator and app-reward emissions to bootstrap network participation, and Canton's daily unlock schedule follows that same playbook.
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Institutional backing has continued regardless of the token's price action. Visa, Goldman Sachs, and HSBC operate as Super Validators processing live transactions on the network, and the Depository Trust & Clearing Corporation has said it plans to pilot tokenized U.S. Treasury settlement on Canton later this year, with a broader launch targeted for October. That institutional pipeline is a large part of why Canton has generated some of the highest protocol fees among major layer-1 networks this year, even as CC's token price and its emission-driven sell pressure tell a very different short-term story.
For now, traders are treating $0.10 as the level that decides which of those two narratives — institutional adoption or unlock-driven supply overhang — wins out in CC's price action over the coming weeks.
