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RockTree Capital, a leading crypto-native fund and merchant bank headquartered in Beijing, announces the launch of its immersive website, showcasing a futuristic film-noir concept: the Cyberpunk Crypto City.

The website’s cutting-edge interactive cityscape represents RockTree’s vision where Web3 has become pervasive, fusing technology, finance, and culture. The site, set in the future near the 11th halving of bitcoin, builds on the ideas of the cypherpunk movement, through advocating for the widespread use of decentralization and privacy-enhancing technologies as a route to self sovereignty and freedom for human beings everywhere. 

As an early-stage investor and bespoke accelerator in Asia for its portfolio companies, RockTree Capital has been instrumental in geometrically accelerating its investee projects’ go-to-market cycle. Through its ultra-localized strategies and grassroots community building initiatives, RockTree has empowered emerging founders and projects to thrive in both East and West markets.

Leveraging deep regional relationships with leading crypto institutions, capital collaborators, and Web3 partners, RockTree invests in and accelerates the trajectory of projects from Infrastructure, DeFi, Cross-chain, and the Bitcoin Ecosystem.

Founded by visionary investor Omer Ozden and headquartered in Beijing, China, RockTree Capital operates at the nexus of the East & West with a crypto native team that bridges the human, cultural, capital and media gap across these markets. RockTree embodies a truly grassroots approach that unites Eastern and Western crypto markets and benefits its portfolio investments, which include amongst others; dYdX, The Graph, Chainlink, Fantom, Pocket, Maple, Covalent, Axelar, Eclipse, and BEVM.

“RockTree focuses on the human aspects of Web3. In addition to unifying the collaboration of top people in Eastern and Western crypto markets, our core strength is identifying the human hallmarks of success for Founders and Team,” says Omer Ozden, Founder and Chairman of RockTree Capital.

“We utilize advanced behavioral neuroscience methods to determine Founders’ emotional intelligence, execution capabilities and integrity. We prioritize not only technological innovation, but also the individuals behind that innovation, their psychology and levels of consciousness. And we invite those projects into our trusted international ecosystem and methodology, so they can scale rapidly in foreign markets, instead of trying to figure it out organically through trial and error,” said Ozden. 

The Cyberpunk Crypto City website represents RockTree’s forward-looking vision decades in the future, where Web3 technology and digital assets penetrate all peoples’ daily lives, and decentralized finance becomes a pervasive consumer product, like soft drinks or chewing gum, allowing true democratization of finance. Visitors to the Cyberpunk Crypto City website will immerse themselves in a retro film-noir homage, with captivating visuals of a cybernetic metropolis of replicants, that is bilingual in English and Chinese, and powered by blockchain technology.

Experience the future of finance at RockTree Capital’s Cyberpunk Crypto City and join us in shaping the next chapter of Web3 innovation.

About RockTree Capital RockTree Capital is an early stage crypto-native fund and merchant bank based in Beijing, China. Our portfolio companies experience geometric scale in Asian markets through the RockTree Acceleration Program by combining our ultra-localized go-to-market strategies and grassroots long-term community building. RockTree invests into top-tier crypto projects and helps build Decacorns in the areas of Infrastructure, DeFi, Cross-chain and Bitcoin Ecosystem

Website | Twitter

16.06.2024 - 21:07

Update: 16.06.2024 - 21:07

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Crypto Trader Michaël van de Poppe Says Low-Cap Altcoin Primed To Rally, Updates Outlook on Bitcoin and Ethereum

Covalent (QCT), a modular data infrastructure for artificial intelligence (AI), has seen the price of its native token fluctuate sharply in the past 24 hours.

The price of QCT fell sharply on Thursday, crashing from $0.15 to $0.10. However, QCT has rebounded and is currently trading around $0.16, as the community looks to steady itself around the AI-related crypto project considered a major network development.

Crypto analyst Michael van de Poppe said on X that Covalent is poised to bounce back after the sharp price correction.

“$CQT is doing great in their ecosystem and they proposed a change for CQT to become CXT as the next step in their journey. Price has endured a massive correction in the past period, but I think this will change over the coming period,” he noted.

$CQT is doing great in their ecosystem and they proposed a change for CQT to become CXT as the next step in their journey.

Price has endured a massive correction in the past period, but I think this will change over the coming period. https://t.co/53OAP81EXF

— Michaël van de Poppe (@CryptoMichNL) July 11, 2024 Covalent migrating QCT to CXT Covalent recently announced a governance proposal to migrate the existing token CQT to a new token CXT. The team said in a blog post that the move marks the dawn of a new era for the platform.

The transition helps the modular data infrastructure network extend its ecosystem to encompass the growing AI and long-term data availability vision. Changing the ticker to CXT and providing for additional scope and improved liquidity are key to the transition, the project stated.

Currently, CQT fails to capture this vision, particularly in relation to a decentralized data infrastructure ecosystem.

The voting snapshot shows the proposal passed with 37 million QCT – the quorum needed was 10 million QCT. Covalent’s vote on the proposal started on July 9 and ended on July 11.

Token migration for holders, operators, and delegators is automated, with the ratio set at 1:1. Covalent announced a trading halt during the governance vote and migration, which received support from OKX, Gate.io, and Crypto.com exchanges.

Covalent recently secured $5 million in strategic financing from several venture capital firms, including RockTree Capital and CMCC Global. The blockchain firm said it would use these funds to expand its data infrastructure.

With MoonRekt, You Can “Play” Bitcoin Price Action

Table of contents

In a significant development for the cryptocurrency market, Toncoin (TON), Celo (CELO), Hashflow (HFT), JasmyCoin (JASMY), and Metis (METIS) have been officially listed on DWF Liquid Markets. From now onwards, traders can easily access these coins. These tokens are available in the following pairs for users TON/USDT, CELO/USDT, HFT/USDT, JASMY/USDT, and METIS/USDT. Earlier, Liquid Markets added $JOE, $LADYS, and $FLOKI as well.

DWF Markets Welcomes Revived TON, Inclusive Celo, and Liquid Hashflow Toncoin (TON) is an important a decentralized layer-1 blockchain. It was initially developed in 2018 by the encrypted messaging platform Telegram. Apart from the project’s initial neglect, it has been revived by the TON Foundation. It has been also rebranded from Telegram Open Network to The Open Network.  Additionally, it showcased a renewed focus on its development and potential.

Celo is another addition to the DWF Liquid Markets. It is a carbon-negative, permissionless blockchain with a plenty of ecosystem of global partners. This blockchain is actively supporting the creation of innovative Web3 decentralized applications (dapps). Moreover, it aims at fostering a more inclusive financial system accessible to all.

Hashflow offers traders deep liquidity across various leading blockchains. With access to approximately $8 billion in liquidity, Hashflow promises traders the best prices. It also facilitates seamless trading experiences for every token, both interchain and cross-chain.

JasmyCoin and Metis Enter Crypto Space, Addressing Scalability and Efficiency JasmyCoin (JASMY) emerges as a cryptocurrency project from Jasmy Corporation. It is a Tokyo-based Internet of Things (IoT) provider. Operating within the realm of the Internet of Things, JasmyCoin leverages both mechanical and digital components. In addition to this, JasmyCoin is equipped with unique identifiers to transmit data efficiently.

Lastly, Metis joins the lineup as an Ethereum Layer-2 scaling solution. It aims to address the blockchain problems by offering decentralization, security, and scalability at the same time. Additionally, Metis aims to tackle some of Ethereum’s most pressing challenges. These challenges include speed, cost, and scalability. As a result, it enhances the overall efficiency and functionality of the Ethereum network.

The addition of these five tokens to DWF Liquid Markets will expand the platform’s offerings. Moreover, it is going to provide traders with increased access to a plethora of innovative blockchain projects. The world of cryptocurrency market is continuously evolving. In this scenario, the availability of such tokens on established trading platforms is very necessary. The platforms like DWF Liquid Markets reflect the increasing interest of crypto worldwide.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.

However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. Although next week lacks major unlocks, these three upcoming events are still worth noting.

Immutable (IMX) Unlock date: August 9 Number of tokens unlocked: 32.47 million IMX Current circulating supply: 1.54 billion IMX Immutable is a Layer-2 solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million during the IMX token sale on the CoinList platform in just one hour. In March 2022, it closed a $60 million investment round and secured an additional $200 million from investors, including ParaFi Capital, Declaration Partners, and Tencent Holdings.

On August 9, the circulating supply of IMX will increase by 32.47 million tokens. These newly unlocked tokens will be allocated to the development of the project and the broader Immutable ecosystem. The crypto community is discussing the IMX’s unimpressive performance, attributing it largely to the frequent unlocks.

“Look at the historical data. $IMX last bull market had a higher price but lower MC. Now it has a higher MC but the price is way less. This is due to supply unlocks,” one X user wrote.

Read more: Layer-2 Crypto Projects for 2024: The Top Picks

IMX Unlock. Source: token.unlocksXai (XAI) Unlock date: August 9 Number of tokens unlocked: 35.88 million XAI Current circulating supply: 519.82 million XAI Xai is the world’s first Layer 3 solution designed specifically for AAA gaming. Utilizing Arbitrum technology, Xai prioritizes simplicity and ease of use by removing the complexities of wallet management. This approach makes blockchain integration a seamless part of the gaming ecosystem.

On August 9, the project will unlock 35.88 million XAI tokens, distributing them among the team, investors, reserve, and ecosystem.

Read more: The 6 Best Cryptocurrency Powered Games in 2024

XAI Unlock. Source: token.unlocksEthena (ENA)  Unlock date: August 11 Number of tokens unlocked: 14.89 million ENA Current circulating supply: 1.80 billion ENA Ethena is a synthetic currency protocol built on Ethereum. It provides a native cryptocurrency solution independent of traditional banking, and also offers global users a dollar-denominated savings instrument called the ‘Internet Bond.’

The ENA token enables holders to vote on governance proposals. On August 11, the project will unlock almost 15 million ENA dedicated to ecosystem development.

Read more: What Is Ethena Protocol and its USDe Synthetic Dollar?

ENA Unlock. Source: token.unlocksOther next-week cliff unlocks include dYdX (DYDX), Hashflow (HFT), and Moonbeam (GLMR), with a total value exceeding $60 million. Although many consider token unlocks bearish, a well-planned schedule can strengthen a project’s long-term viability. Aligned with milestones and development progress, unlocks will motivate team members, boost community engagement, and promote ecosystem growth.

The cryptocurrency market is currently experiencing a stagnant phase, with most altcoins not moving in a clear direction. The market showed little reaction to the July personal consumption expenditures (PCE) data released yesterday. Particularly, the July inflation data indicated that the price increase continued to slow down in line with the Federal Reserve’s 2% target. This situation raises the possibility of interest rate cuts in September.

Despite the potential for interest rate cuts, risky assets like cryptocurrencies remain stagnant. Bitcoin (BTC) continues to consolidate below the $60,000 resistance level. While the current situation may offer an investment opportunity, there are cryptocurrencies that investors should avoid trading due to the potential for increased volatility in the coming week. The first of these is Immutable.

The cryptocurrency Immutable (IMX) has shown resistance recently and increased by about 8% last month despite overall market fluctuations. However, with an upcoming token unlock on September 6, 2024, 32.47 million IMX will be released into the market. These tokens represent 2.06% of the cryptocurrency’s market value and are worth approximately $47.23 million. Although technical indicators mostly signal bullish for IMX, the increased supply due to the unlock could change sentiment and trigger new volatility.

Be Cautious with HFT and SUIAltcoin Hashflow (HFT) is facing a similar situation. A token unlock is scheduled for September 7, 2024. 15.83 million HFT tokens will be released into the market. This release, representing 4.33% of the current market value, is worth approximately $2.27 million. Historically, tokens with significant unlocks like HFT often experience increased selling pressure. At the time of writing, Hashflow was trading at $0.14 and had dropped more than 23% in the last month.

The cryptocurrency Sui (SUI) is facing a token unlock on September 3, 2024. With the unlock, 83.88 million SUI will be released into the market. This release, representing 3.23% of the current market value, will be worth approximately $67.97 million. At the time of writing, SUI was trading at $0.81.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.

However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. Here are three major unlocks to watch next week.

Taiko (TAIKO) Unlock date: September 5 Number of tokens unlocked: 12 million TAIKO Current circulating supply: 63.09 million TAIKO Taiko is a decentralized Layer-2 scaling solution for Ethereum, leveraging ZK-Rollup technology. The protocol operates in a permissionless manner, allowing community members to participate in network operations

On September 5, Taiko will unlock a substantial portion of its TAIKO tokens, representing 19% of the current circulating supply. The project will distribute the newly released tokens to participants in the Trailblazer program.

Read more: Layer-2 Crypto Projects for 2024: The Top Picks

TAIKO Unlock. Source: token.unlocksImmutable (IMX) Unlock date: September 6 Number of tokens unlocked: 32.47 million IMX Current circulating supply: 1.57 billion IMX Immutable is a Layer-2 solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million during the IMX token sale on the CoinList platform in just one hour. In March 2022, it closed a $60 million investment round and secured an additional $200 million from investors, including ParaFi Capital, Declaration Partners, and Tencent Holdings.

On September 6, the circulating supply of IMX will increase by 32.47 million tokens. These newly unlocked coins will be allocated to the development of the project and the broader Immutable ecosystem. 

Read more: What Is Immutable?

IMX Unlock. Source: token.unlocksMode (MODE) Unlock date: September 6 Number of tokens unlocked: 500 million MODE Current circulating supply: 1.3 billion MODE Mode Network is a modular Layer-2 network focused on DeFi, built on Optimism’s Bedrock upgrade. The network features a unique contract revenue-sharing incentive at the protocol level, where both DApps and users that contribute to the Mode blockchain receive a portion of the network sequencer’s profits.

This current unlocking event involves 500 million tokens, nearly 40% of the circulating supply. Despite this, no additional unlocks are scheduled for more than six months. However, the community remains skeptical about this tokenomics design.

“For the coming week, there are 4 unlocks at more than 2% but we will especially have to watch $TAIKO which will unlock 19% of its supply on September 5 and $MODE on September 6 which will unlock 38.46% of its supply. Super tokenomics,” one X user commented.

Read more: Optimism vs. Arbitrum: Ethereum Layer-2 Rollups Compared

MODE Unlock. Source: token.unlocksOther next-week cliff unlocks include dYdX (DYDX), Liquity (LQTY), Hashflow (HFT), and Ethena (ENA), with a total value exceeding $77 million. Although many consider unlocks bearish, a well-planned schedule can strengthen a project’s long-term viability. Aligned with milestones and development progress, unlocks will motivate team members, boost community engagement, and promote ecosystem growth.

Hashflow (HFT) Leads DEX Tokens With Over 100% Surge — What’s Fueling the Rally?

PANews reported on May 22nd that, according to an official announcement, Binance will add a watchlist label to the following tokens on May 22nd, 2026, based on recent reviews: Alchemix (ALCX), Cookie DAO (COOKIE), DODO (DODO), Epic Chain (EPIC), Heima (HEI), Hashflow (HFT), Storj (STORJ), Synapse (SYN), and Alien Worlds (TLM). Watchlist-labeled tokens may have higher volatility and risk compared to other listed tokens, and Binance will closely monitor and continuously review them. Trading these watchlist-labeled tokens carries risk; these tokens may no longer meet listing standards and could be delisted.

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In a research report released on July 18, 2024, Thor Hartvigsen, a crypto researcher, strongly cautioned against the investment strategy of purchasing high-beta altcoins within the Ethereum ecosystem as a leveraged tactic, particularly with the forthcoming launch of the spot Ethereum ETFs in the United States.

Hartvigsen’s analysis titled “ETH Beta – a Recipe for Disaster?” provides an analysis of whether buying ETH-correlated altcoins, commonly referred to as ‘ETH betas,’ constitutes a good investment strategy. These assets, including tokens like OP, ARB, MANTA, MNT, METIS, GNO, CANTO, IMX, STRK (all L2’s), MKR, AAVE, SNX, FXS, LDO, PENDLE, ENS, LINK (all DeFi) PEPE, DOGE (all memes), SOL, AVAX, BNB and TON (alternative L1’s) are traditionally viewed as offering leveraged exposure to movements in Ethereum’s price, assuming a higher volatility relative to Ethereum itself.

The report dissects several critical areas: price performance comparison between these altcoins and Ethereum, their correlation and beta coefficients relative to Ethereum, and their risk-adjusted returns measured by the Sharpe ratio. The researcher highlights the inherent risks and inefficiencies in banking on these altcoins for enhanced Ethereum exposure.

Why Buying ‘Ethereum Beta’ Altcoins Is Generally A Bad Idea Discussing price performance, Hartvigsen points out, “The TOTAL3 (altcoin market cap) against the ETH market cap is at around 1.48. Since 2020, this chart has only been this low on a few rare occasions, signaling the outperformance of ETH against most alts.” This historical context sets a grim precedent for those hoping for altcoin outperformance concurrent with Ethereum’s growth. The researcher elaborates that despite periodic recoveries at these levels, the overarching trend has been one of decline—a troubling signal for altcoin investors.

“Notably, not a single L2 token has outperformed ETH YTD, with the best performing token, GNO, up 34%, whereas ETH has seen a 44% gain. Worst performers include MANTA, STRK, and CANTO, all down more than 60% this year,” Hartvigsen stated. With regard to the top alternative L1’s, AVAX is the only one down on the year vs ETH. “Of the 8 DeFi tokens in this basket, 3 have outperformed ETH, namely PENDLE (+254%), ENS (+163%) and MKR (+78%). The remaining 5 are all down on the year with FXS as the worst performer down 73%,” the researcher added.

Meanwhile, memecoins have been the best bet this year so far. “This can also be seen in the performance of the largest Ethereum-native memecoins. PEPE is the largest gainer of the sample, up +708% while SHIB is up 74% and DOGE 31%,” according to Hartvigsen.

The correlation section of the report digs deeper into the relationship these altcoins have with Ethereum. “The sample of altcoins has not been chosen at random but consists of tokens usually assumed to be correlated with the performance of ETH,” Hartvigsen explains.

He further notes that “Correlation between ETH and ETH is obviously perfect and therefore is 100%. The alts most correlated with ETH are GNO, SNX, METIS, AAVE, and ARB.” However, despite some tokens showing a decent correlation with Ethereum, the researcher cautions that these do not necessarily guarantee similar performance outcomes, especially in this crypto cycle.

Correlation to ETH | Source: X @ThorHartvigsen In terms of beta, which measures the volatility of an asset compared to the market, the findings are telling. “From this analysis, it’s clear that only a few alts have a high beta coefficient in relation to ETH, namely PEPE, METIS, ENS, and PENDLE,” Hartvigsen states. This suggests that while certain altcoins exhibit higher volatility and thus potential for greater returns relative to Ethereum, they also carry a proportionately higher risk.

Altcoin beta relative to ETH | Source: X @ThorHartvigsen The calculation of the Sharpe ratio, which provides a measure of risk-adjusted return, brings another dimension to the analysis. Hartvigsen remarks, “The Sharpe ratio calculations underscore the volatility-adjusted returns of these altcoins, which have varied significantly. This is critical as investors often overlook the increased risk these ‘ETH beta’ assets carry.”

Wrapping up his findings, Hartvigsen offers a clear verdict: “Buying these altcoins as a way to get leveraged exposure to Ethereum is, in my opinion, a foolish game as you’re taking on a lot of additional risk you might not be aware of. If you’re looking for leveraged ETH exposure, simply putting on a 2x ETH long on e.g., Aave is more sensible.” He emphasizes that such a strategy ensures a 100% correlation and a beta value of 2, without the unnecessary complications.

At press time, ETH traded at $3,439.

ETH rises above the 0.618 Fib, 1-week chart | Source: ETHUSD on TradingView.com Featured image created with DALL·E, chart from TradingView.com

CANTO Price Surges by 13.5% as Developers Promise Network Outage Fix

Canto, built on the Cosmos blockchain, experienced an outage that halted the chain’s operation. The stoppage occurred after its Callisto upgrade on Saturday.

On August 11, Canto developers announced on their official X page that the chain had a consensus issue, which affected its operation. They calmed the situation by announcing that an upgrade to address the issue would be carried out on Monday, August 12 at 12:00 UTC.

The developers, in response to the fear, uncertainty, and doubt that might have arisen because of the operational stoppage, assured their users that their funds were safe and would be accessible for user operations as soon as the chain resumed.

Canto Price Action Remains Positive Short-Term, Sees Double-Digit Increase The price of the CANTO token fell on Sunday by 11%, following the news; before that, it had been trading sideways since Tuesday, August 6. However, it has risen more than 30% today, which could be a positive sentiment toward the assurance about fund security and the upgrade plan by Canto developers.

Photo: TradingView

Despite the ongoing recovery and price surge today, Canto remains in a strong downtrend when the price action is observed from a broader perspective. Three different price action metrics indicate that the current bullish move may only be a retracement (corrective move) rather than a total trend change. The price is still below the 50-day and 200-day simple moving averages, which could potentially serve as resistance to price growth in the medium term.

In addition, the price is trading under a descending triangle channel, which has been both support and resistance since March. The consolidation experienced within the past few days has been at the base of the pattern.

We could see a bounce to the top of the channel within the next few days before the downward move continues. However, a breakout above the top of a descending triangle pattern will be interpreted as a super bullish signal, which could propel Canto’s price to heights not seen in the past few weeks and months.

Canto Developers Seem to Be Handling It Well The Canto blockchain outage is not the first in the crypto ecosystem. These blockchain breakdowns also have various effects on the affected community and can be caused by software upgrades, just like in the case of Canto, hardware failure, cyberattacks, or venom governance issues. The effect can lead to delayed transactions or a total halt.

For example, Stacks nodes had around 9 hours of disruption, which affected the functionality of applications that depend on its blockchain in June. Following this, it dipped by close to 50% in just 3 weeks.

The aftermath of these outages has been largely dependent on how the developers managed them. With the bullish move (+30% spike today) that Canto is experiencing, it could be said that the developers and community are handling the situation well.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Altcoin News, Cryptocurrency News, News

Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games. 

Temitope Olatunji on X

CANTO was outperforming the broader market at press time. The recent outage on the Canto blockchain sparked concerns. CANTO was up 40% despite a series of outages that have rocked the network in the last few days. The chain went down on Sunday, the 11th of August, but developers later deployed a fix that brought it back online for around 90 minutes before halting again.

Per Canto Explorer, the last block production happened on 12th August at 14:02 UTC. The developers attributed the outage to “unforeseen secondary effects” caused by a recent network upgrade.

The team announced that block production will resume on 13th August once a new patch is deployed.

While such network outages tend to hurt prices, CANTO is witnessing a major rebound. The token is one of the top performers in the market in the last 24 hours amid rising interest and high volumes

What’s driving the rally?  CANTO was trading at $0.064 at the time of writing after registering an over 40% gain. Data from CoinMarketCap showed that trading volumes have increased by 87%, likely driven by high buying pressure.

The Relative Strength Index (RSI) line was tipping north, showing a rise in buying momentum as the market becomes more bullish. The RSI crossing above the signal line further portrayed a buying signal.

The Chaikin Money Flow (CMF) has been making higher lows despite being in negative territory. This indicates that buying pressure is beginning to outweigh the selling pressure. However, buyers need to provide more support to sustain the uptrend.

Source: Tradingview The formation of the falling wedge pattern further suggests the continuation of the uptrend as prices recover from the recent pullback that saw the price plunge to $0.036 on August 12.

If the price breaks out above the upper trendline of the falling wedge, CANTO will target the 1 Fib level ($0.12). Conversely, if the uptrend fails, the token will likely drop to the 0.236 Fib level ($0.0116).

Community raises concerns Helius Labs CEO, Mert Mumtaz, has called out the Canto network team over the lack of community engagement.

“[I don’t care] if you go down but you have a duty to the people holding funds on your chain to keep them informed,” he stated.

Analyst Marty Party on X also noted that the network has been witnessing a slump in on-chain activity, posing a significant challenge to its future growth.

Data from DeFiLlama shows that the network’s Total Value Locked (TVL) has dropped from over $200 million in March last year to $14 million. The declining TVL points towards reduced demand and confidence in the project.

Source: DeFiLlama

CANTO Tops Daily Gainers Amid Market Momentum

KEY TAKEAWAYS

CANTO trades at approximately $0.013 with a market capitalization of nearly $4 million, representing a 99% decline from its all-time high of $0.77 reached shortly after launch. The Canto blockchain operates as a Layer 1 EVM-compatible chain offering decentralized exchange, lending, and stablecoin tools as Free Public Infrastructure with zero protocol-level rent extraction. Circulating supply stands at 608 million tokens against a total supply of one billion, and daily trading volume recently reached $200,000, a 13% increase signaling renewed but modest interest. Price predictions diverge sharply: DigitalCoinPrice projects $0.0313 by year-end 2026, Bitget models show $0.01078 by September 2026, while CoinLore’s outlier model suggests $1.83 over the same horizon. Institutional interest in the distinct Canton Network, an enterprise blockchain backed by DTCC and Goldman Sachs, should not be confused with the separate Canto Layer 1 DeFi chain despite similar naming. Small-cap Layer 1 tokens present a valuation puzzle that standard crypto analysis struggles to solve. CANTO, the native token of the Canto blockchain, trades at roughly $0.013 with a fully diluted valuation near $6.8 million, according to CryptoTechGuide’s analysis. That places it outside the top 3,000 cryptocurrencies by market capitalization. 

Yet the chain’s architecture is unusual: it delivers core DeFi primitives, including a decentralized exchange, a lending market, and a decentralized stablecoin as public goods, charging no protocol fees, according to Canto’s official documentation. 

This article examines whether CANTO’s free infrastructure model can attract sufficient development according to activity and capital to justify a recovery from its 99% drawdown, and why the institutional blockchain narrative surrounding the separately named Canton Network does not directly apply.

How Canto’s Free Public Infrastructure Model Differs from Competitors Most Layer 1 blockchains generate revenue by extracting fees from DeFi applications built on top of them. Canto inverts this model. Its core DEX, lending protocol, and NOTE stablecoin operate as Free Public Infrastructure, meaning the protocol itself does not charge rent on these services, according to Tracxn’s company profile.

Co-founders Arijit Pingle and T K Kwon designed the chain to eliminate the value extraction that characterizes most DeFi ecosystems.

Original analysis: this zero-rent model creates a paradox for token valuation. Traditional DeFi tokens derive value from protocol revenue, governance power over fee switches, or staking yields funded by inflation. CANTO strips away the first two and relies on validator staking and network usage fees alone. 

That makes CANTO closer to a pure infrastructure bet than a cash-flow asset, which partly explains why its market cap has compressed to under $5 million even as the chain continues to operate. The comparison that matters is not to Ethereum or Solana but to public utilities: essential, underpriced, and difficult to monetize.

The chain’s EVM compatibility gives it a technical advantage over non-compatible alternatives, allowing developers to deploy existing Solidity code without modification. The RSI sits near 31, placing CANTO in neutral territory that historically favors buyers over extreme oversold conditions, according to CryptoTechGuide data.

Why Canton Network Is Not the Same as Canto A common source of confusion in institutional crypto circles involves the Canton Network, an enterprise blockchain backed by DTCC, Goldman Sachs, BNP Paribas, and Bank of America. Canton processes more than one million transactions daily and settles roughly $9 trillion in monthly volume, according to BlockMedia reporting from OFF 2026. 

Thomas Chou, head of Asia-Pacific growth at the Canton Foundation, stated at the On-chain Finance Forum in Seoul on May 15 that institutional investors have shifted from asking what blockchain is to discussing how to deploy it in practice.

Tharimmune, Inc. rebranded to Canton Strategic Holdings on February 18, 2026, trading under the ticker CNTN on NASDAQ, and secured a $55 million registered offering to support the Canton Network’s validator infrastructure, according to AInvest reporting. 

This institutional adoption story belongs to the Canton Network, which is architecturally distinct from Canto’s Layer 1 DeFi chain. Investors are confusing the two, misallocating capital based on headlines that apply to a different project.

Price Predictions and Technical Outlook Forecast models diverge dramatically on CANTO’s trajectory. Bitget projects a price of $0.01078 by September 2026, representing a modest 2.12% ROI from current levels, according to Bitget’s prediction page.

DigitalCoinPrice is more optimistic, projecting that CANTO could reach $0.0346 by year-end 2026, according to DigitalCoinPrice. CoinLore’s algorithmic model stands as an extreme outlier at $1.83, which would represent a 180,000% increase and appears disconnected from current on-chain fundamentals.

The wide variance in predictions reflects the inherent difficulty of modeling micro-cap tokens. At a $4 million market cap, a single whale transaction can move CANTO’s price by double digits. Daily trading volume of $125,000 to $200,000 provides minimal liquidity for institutional-sized positions. 

The 50-day simple moving average at $0.0041 and the 200-day SMA at $0.0063 both sit below the current price, suggesting a tentative recovery from multi-month lows. But 33% monthly volatility demands disciplined position sizing.

Regulatory Implications Canto’s Free Public Infrastructure model may offer a regulatory advantage. Because the core protocols do not extract fees, they resemble public goods more than securities-generating platforms. The SEC’s ongoing deliberation over which DeFi protocols constitute securities could spare fee-free infrastructure from enforcement action.

However, no specific regulatory guidance addresses this distinction, and the broader institutional DeFi regulatory landscape remains in flux under the GENIUS Act framework.

What Could Drive CANTO Higher or Lower The bull case requires development according to adoption on Canto’s EVM infrastructure, measurable growth in total value locked, and a post-halving alt-season that lifts micro-cap Layer 1 tokens.

The bear case is simpler: continued low volume, absent development, and capital consolidation into larger chains like Ethereum and Solana, which dominate institutional attention according to FinanceFeeds’ crypto index analysis. No scheduled catalysts are on the immediate horizon, making CANTO a thesis-dependent position rather than an event-driven trade.

FAQs What is CANTO’s current price and market cap?
CANTO trades at approximately $0.013 with a market capitalization of nearly $4 million and a circulating supply of 608 million tokens as of June 2026.

What makes Canto different from other Layer 1 blockchains?
Canto provides its core DeFi tools, including a DEX, lending protocol, and stablecoin as Free Public Infrastructure, charging no protocol-level fees on usage.

Is Canton Network the same as Canto blockchain?
No, Canton Network is a separate enterprise blockchain backed by DTCC and Goldman Sachs for institutional asset tokenization, architecturally distinct from the Canto DeFi chain.

What is the highest price prediction for CANTO in 2026?
CoinLore’s algorithmic model projects $1.83, an extreme outlier, while more conservative models from Bitget project approximately $0.01078 by September 2026.

How much has CANTO fallen from its all-time high?
CANTO has declined by approximately 99% from its all-time high of $0.77, reached shortly after the chain launched during the Layer 1 narrative boom.

What is CANTO’s daily trading volume?
Recent daily trading volume ranges between $125,000 and $200,000, which is insufficient for large institutional positions but represents a 13% recent increase in activity.

Does CANTO have upcoming upgrade catalysts?
No major scheduled upgrades or partnerships have been publicly announced for the Canto chain, making the token a thesis-dependent long-term position rather than an event-driven one.

References Canto.io: Official Canto Layer 1 Blockchain Documentation Tracxn:  Canto Company Profile, Team, Funding and Competitors BlockMedia/BloomingBit: Canton Network Says Institutional Blockchain Adoption Has Begun, OFF 2026 CryptoTechGuide: CANTO Price Prediction 2026: Layer 1 Potential Analysis

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Vega Protocol proposes shutting down chain and launching new token

Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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September 12, 2024

The Vega Protocol community has voted to retire its Layer 1 (L1) blockchain and the associated VEGA token.

The decision marks the end of the Vega chain’s operations, which were focused on facilitating derivatives trading on a decentralized platform.

The unanimous governance vote triggered the automatic shutdown of trading activities on the Vega blockchain, the project said in a recent blog post.

Vega Shuts Down L1 Chain Due to Lack of TractionThe protocol launched its first on-chain markets after the release of its alpha mainnet in 2023.

However, the lack of substantial traction in its current form as an application-specific blockchain (app chain) led to the community’s decision to discontinue the project.

The Vega team explained that the network did not achieve the growth and interest required to sustain it as a viable platform.

Consequently, the project will now focus on maintaining the core software rather than continuing with the blockchain and token in their present state.

“We are proud of the software we have built, but unfortunately, the chain and token did not gain the momentum needed to ensure sustainability,” said Barney Mannerings, co-founder of Vega Protocol.

He further emphasized that the resources would now be allocated to supporting other initiatives based on Vega’s core technology.

One such initiative is Nebula, a decentralized exchange that will utilize the Vega software.

Nebula operates independently from the Vega Protocol and will have its own token, NEB.

The on-chain vote to retire the Vega chain has officially passed.

As a result, the Vega chain no longer supports trading on any markets. The chain is expected to cease operations after a “ramp-down” period, during which validators are incentivised to maintain node operations,…

— Vega Protocol (@vegaprotocol) September 11, 2024 As a gesture to the existing VEGA token holders, the Nebula team plans to offer NEB tokens to them, providing some continuity of value within the ecosystem.

“We believe the future of our software lies in open-source development, where projects like Nebula can build upon it,” Mannerings added.

As part of the shutdown process, the Vega chain will enter a “ramp down” phase, during which validators will maintain nodes to ensure users can withdraw their funds.

Validators to Keep Vega Running Until Oct. 27The core team said that validators have committed to keeping the chain operational until at least October 27, 2024, allowing users a window of opportunity to safely move their assets off the network.

The team also issued a warning to users to remain vigilant for updates regarding the chain’s status.

“If the chain halts, assets may become stuck on the bridge, and we will not be able to retrieve them for you,” the team cautioned.

The VEGA token has experienced a sharp decline following the shutdown announcement. Over the past week, its price has dropped by 30%, falling from $0.10 to $0.068.

The token has also seen a more than 90% decline since the start of the year.

Vega’s journey began with its whitepaper in 2018, where the team outlined a high-performance, application-specific blockchain based on the Tendermint proof-of-stake consensus mechanism.

In 2019, the project raised $5 million in a seed round led by Pantera Capital, followed by a $43 million community token sale on CoinList in 2021.

Last year, Vega Protocol launched the first perpetual futures market on its network.

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