Crypto
CC Price Dives Amid Futures Outflows and Token Unlocks
Canton Network's price took a hit over the past 24 hours, falling 13.17% to trade around $0.08786 at press time.
The decline coincided with futures outflows and continued token emissions, but liquidation data showed that liquidity was sitting well above the current price.
According to CoinGlass, a net outflow of $1.71 million from CC futures occurred over 24 hours, with futures outflows reaching $11.92 million and exceeding inflows of $10.21 million.
The daily token unlocks worth around $1.9 million added to the selling pressure, as DeFiLlama showed that about 21.55 million CC were released per day in app, validator, and super-validator rewards.