What the heck? Goldman Sachs, JPMorgan, and BNP Paribas showing a 49% unrealized loss?
Yep, it's the Wall Street star project @CantonNetwork. It went live on spot exchanges in November, and from the day‑high has already dropped 49%, today it’s essentially halved.
This is arguably the crypto project with the strongest institutional background! Goldman Sachs, HSBC, Binance Labs, JPMorgan, BNP Paribas—all of them only invested $134 million in June this year, raising a total of $540 million. At current token prices, that’s almost a 50% loss.
✅ I’ve analyzed the reasons (personal opinion, welcome corrections).
🔹1) Unlucky timing: on the day of the spot launch, November 10, the market kept crashing, with Ethereum down 23% and Aptos down 46% over the same period.
🔸2) Insufficient liquidity: on November 10 the spot market was only listed on second‑tier exchanges such as Kraken, Bybit, MEXC, Kucoin, with daily volume around $14 million, unable to meet liquidity demand.
🔹3) Binance invested, but the Binance exchange currently only offers futures, not spot. Logically a project of this caliber should have a spot listing on Binance.
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🌈 Is there still hope?
1) Binance and Upbit have not yet listed spot; a project as big as Canton has a chance.
2) This round of crash (correction) still needs a panic sell‑off, with Bitcoin bottoming around $78,000.
3) BNP Paribas and HSBC have officially joined the Canton Foundation, they won’t just sit idle.
⭐ On the Canton chain, daily transaction volume exceeds $50 billion, all from financial institutions actively using it. The chain holds $12 billion of regulated‑level assets, meeting regulatory requirements of the US SEC, the EU, and Asia—making its compliance the strongest worldwide. I’m very bullish, have added $CC to my watchlist, preparing to bottom‑buy.
But I’m not giving anyone investment advice; the crypto market’s brutality is well understood by veteran “old‑green” traders.
Sharing the Chinese Telegram group for the Guangdong chain: https://t.co/TWC8YLSULS
Wishing everyone to survive the bear market, see a massive rebound to new asset highs, stay alive, and make money together!