Canton Network's CC Token Breaks Out of Two-Month Range

Canton Network's CC token has broken out of a two-month range, and its price is up by over 13% in the last 24 hours. This comes as part of a broader trend of altcoins performing well, with only Ethena's ENA gaining more than CC.

The Canton Network's institutional-grade RWA and burn rate narrative has contributed to this surge in popularity, as investors take notice of its unique features. The daily mint/scan ratio is at 61.4%, a high but not yet deflationary figure.

However, the CC token still faces resistance at the $0.150 mark, which would need to be broken for the structure on the daily chart to turn bullish. Traders are advised to buy the pullback and look to target the $0.162 level.