Gate News Bot news, on November 24, according to CoinMarketCap data, as of the time of writing, CC (Canton) is currently priced at $0.09, rising 13.25% in the last 24 hours, peaking at $0.11, and falling to a low of $0.07, with a 24-hour volume of $340 million. The current market capitalization is approximately $3.014 billion, an increase of $353 million compared to yesterday. Currently, CC ranks 33rd in the global Crypto Assets market capitalization.
Important news regarding CC (Canton) recently:
1️⃣ Canton Wallet announces phased shutdown of CC drip mechanism
Canton Wallet will completely stop the CC drip mechanism on December 25th. This temporary reward program aims to attract users to participate through small continuous CC token rewards. At the same time, Canton Wallet plans to launch multiple new products, including treasury, staking, Pool Party decentralized exchange, and CUSD stablecoin. 30% of application layer rewards will be reserved for community distribution, and there are currently 17,166,000 CC community rewards remaining in reserve.
2️⃣ 21shares launches the first Canton Coin ETP
21Shares has launched the world's first Canton Coin ETP (CANTN), providing investors with exposure to CC. This ETP has been listed on Euronext Amsterdam and Paris, with a management fee of 2.5%. This initiative is expected to enhance the market visibility and investment accessibility of CC, attracting more institutional investors' attention.
3️⃣ Société Générale issues digital bonds on the Canton Network
SG-FORGE, the crypto assets division of Societe Generale, has completed its first digital bond issuance based on the Canton Network in the United States. This issuance utilized the tokenization technology from Broadridge Financial Solutions, showcasing the advantages of the Canton Network in achieving instant settlement while retaining the traditional financial legal structure. This move provides a practical case for institutional applications in the CC ecosystem and helps enhance its influence in the fintech sector.
The strong rise in CC price may be related to these positive factors. The continuous development of the Canton Network ecosystem, the launch of new financial products, and the increased institutional participation have jointly boosted market confidence in CC. However, as the CC drip mechanism gradually closes, it may impact token distribution in the short term, and investors should closely monitor the potential effects of this change on the market.
This message is not intended as investment advice; investors should be aware of market volatility risks.
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