- On April 14, the Canton token plunged by around 4% on a daily chart, declining from $0.15 to $0.14 with a market capitalization of $5.7 billion.
- This drop in the CC token surprised traders as there were various positive developments that took place in the community, including its listing on Upbit.
- Recently, Grayscale has also added the Canton token to the list of assets under consideration for the second quarter of 2026.
On Tuesday, the Canton (CC) price fell by around 4% over the last 24 hours despite its listing on one of South Korea’s major cryptocurrency exchanges, Upbit.
Despite the drop in the price, the daily trading volume of Canton has witnessed a spike of around 345% on a daily chart, which shows growing trading activity on the network. At the time of writing, the cryptocurrency is trading at around $0.1463, down 3.9% on the daily chart, according to CoinMarketCap.
South Korea’s Biggest Exchange Prepares to List Canton
On April 14, South Korea’s biggest cryptocurrency exchange, Upbit, officially announced the listing of Canton (CC) on its KRW, BTC, and USDT trading pairs. While the deposits and withdrawals were planned on April 14, Upbit has declared that it has postponed the launch, saying that extra checks were needed during testing.
After this development, the CC price has witnessed some small movements. The listing on Upbit will help it to bring more Korean buyers and gain higher liquidity once trading starts. This listing announcement has soared the token’s price above $0.1601.
The drop in the Canton price is coming amid the bullish momentum in the crypto market, in which the Bitcoin (BTC) price soared above $75,000 after seeing major liquidation in the short positions. Institutional investors have started injecting money via major exchanges again after witnessing a rally in the last few days.
While there is still a tense situation in the Middle East, in the last few days, there have been some developments, which investors are seeing as a sign of de-escalation in the war between the U.S. and Iran.
However, Canton is facing its own selling pressure as some investors have started booking profits after recent major developments, such as listings.
At present, the price chart of Canton is developing a descending channel pattern in the last few days. In this pattern, both the top line and the bottom line are moving in a downward direction. The price is currently stuck between them until it finally breaks out in one direction.
In the last few days, the cryptocurrency has retested various lower highs, which means that every time the price tries to go up, it fails to reach the previous high levels.
Technical indicators are suggesting that the cryptocurrency is currently in the balance zone. The 14-day Relative Strength Index is revolving around 47, which tells that the cryptocurrency is currently in the neutral zone without any sign of being in the overbought and oversold zone.
The 50-day moving average is very close to the current price level. Because of this, it is difficult to trace its direction at the moment. However, the positive momentum in the overall crypto market is suggesting that if buyers start to accumulate CC tokens, then it might see some recovery. As of now, traders are seeing the $0.14 as the major support level.
Canton (CC) Gets Recognition as Grayscale Adds It to the List of Consideration
Recently, Grayscale has revealed the addition of Canton to its official list of assets under consideration for the second quarter of 2026. This recognition from the world’s biggest has sparked euphoria in its community. It has now been added to the smart contracts platform category alongside other tokens such as Celo and Toncoin.
“Assets Currently in the Grayscale Product Suite lists digital assets held by a Grayscale product as of April 10, 2026, either as part of a single-asset product or a multi-asset product,” stated in the official announcement.
The addition of the CC in this list clearly says that Grayscale’s research team is actively assessing CC as a future investment product, such as a trust and exchange-traded funds (ETFs). This comes after Grayscale announced the launch of a new exchange-traded fund (ETF) that is focused on Avalanche (AVAX) in March.
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