CANTO’s Price Explodes 250% Before Taking a Steep Dive

CANTO Token’s Sudden 250% Surge Followed by Sharp Decline Reflects Market Challenges

CANTO, the native token of the Canto layer-1 blockchain, experienced extreme volatility on Thursday, skyrocketing 250% before plunging 60% within six hours.

Following an energetic launch last year that pushed its market cap to $238 million and TVL to $204 million, the project has seen its momentum fade. A recent network outage caused a significant drop in assets locked on the platform, now down to just $4.6 million.

The rapid rise and fall come amid an influx of new layer-1 and layer-2 blockchains, which have saturated the ecosystem and diluted liquidity across protocols.

Despite earlier promises to release a new roadmap, the project has remained silent on social channels since September, leaving its community waiting for updates.

Thursday’s dramatic price action was likely triggered by a brief surge in buying within a low-liquidity market, quickly followed by a sell-off as traders secured profits and exited losing positions.