Coin

Canton

Daily

Resistance

<ul>
 <li><strong>Canton Coin fell below its 50-day moving average and a key Fibonacci support level.</strong></li>
 <li><strong>Sellers rejected the token near the same resistance for almost three weeks.</strong></li>
 <li><strong>CertiK ranked Canton first among compared blockchains for third-quarter fees.</strong></li>
 <li><strong>Daily fee activity has slowed compared with the pace recorded in June.</strong></li>
</ul>
<p>Canton Coin (CC) fell roughly 8% on Thursday to trade near $0.106 on OKX, breaking below both its 50-day exponential moving average and the 0.618 Fibonacci retracement within a single session. Both levels had held the token’s October range together, and their loss comes three days after <a href="https://x.com/CertiKCommunity/status/2109660270251647199" rel="noopener noreferrer nofollow">CertiK’s Skynet monitoring platform</a> ranked Canton Network first among the blockchains in its comparison for third-quarter fees, with more than $155 million recorded between July and September. Heavy network usage and a weakening chart are now pulling in opposite directions, and the daily close will show which one traders are pricing.</p>
<blockquote class="twitter-tweet">
 <p>Canton surpassed $155M in recorded Q3 2026 fees, the highest across all chains in our comparison.<a href="https://x.com/CantonNetwork?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@CantonNetwork</a>'s $1.71M daily median points to a high baseline, not a total driven by a few peaks.</p>
 <p>Read our research below on its fee model and institutional workflows. <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f447.png" alt="👇" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f9f5.png" alt="🧵" style="height: 1em; max-height: 1em;"><a href="https://t.co/m2vA84fhzQ" rel="noopener noreferrer nofollow">pic.twitter.com/m2vA84fhzQ</a></p>
 <p>— CertiK Skynet (@CertiKCommunity) <a href="https://x.com/CertiKCommunity/status/2109660270251647199?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 12, 2026</a></p>
</blockquote>
<h2 id="three-weeks-zero-daily-closes-above-0-125-where-cc-s-rally-died">Three Weeks, Zero Daily Closes Above $0.125: Where CC’s Rally Died</h2>
<p>The current structure starts at the mid-September low near $0.0905, from which CC rallied about 61% to a peak around $0.1455 in late September. Fibonacci retracements drawn across that move mark how much of the rally the price has handed back, and the 0.382 level near $0.125 capped the token for most of October without a single daily close above it. The clearest failure came on October 13, when buyers lifted CC to about $0.131 on one of the heaviest volume days of the month and then lost the entire gain before the close, leaving a long upper wick that showed sellers waiting above $0.125.</p>
<figure style="width: 100%" class="wp-caption alignnone"><img src="https://ethnews.com/wp-content/uploads/2026/10/canton-usdt-tradingview-cc-15-10-2026.jpg" alt="Canton Coin daily chart showing a breakdown below the 50-day EMA and key Fibonacci support." width="1280" height="740">
 <figcaption>
  CC/USDT daily chart. Source: TradingView / Alexander Stefanov
 </figcaption>
</figure>
<h2 id="cc-slips-under-0-111-the-line-between-a-pullback-and-a-reversal">CC Slips Under $0.111, the Line Between a Pullback and a Reversal</h2>
<p>CC reclaimed its 50-day EMA, currently at $0.1173, around September 21 and used it as support through every October dip until this week. The line tracks the weighted average close of roughly the last ten weeks, so trading under it means the token now costs less than where most recent buyers entered. Thursday’s candle also cut through the 0.618 retracement near $0.111, the level that usually separates a pause in a rally from a reversal of it, and a daily close beneath it would mean CC has surrendered more than 60% of the September advance.</p>
<p>Momentum points the same way, with the 14-day RSI dropping to about 40 and sitting well under its own signal average near 52 after peaking in late September. A reading of 40 shows sellers have controlled more of the recent price action than buyers, while still sitting above the 30 mark usually associated with exhausted selling, so the indicator does not yet suggest a bounce is due. The candle still had more than 13 hours to run when the chart was captured, which leaves the breakdown unconfirmed until the close.</p>
<div style="margin: 28px 0; border-radius: 12px; overflow: hidden; box-shadow: 0 4px 16px rgba(11,31,58,0.12);">
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  CC/USDT Key Levels
 </div>
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  <table style="width: 100%; min-width: 320px; border-collapse: collapse; border: 0; font-size: 15px; line-height: 1.3; margin: 0;">
   <tbody>
    <tr style="background: #ffffff; border: 0;">
     <td style="padding: 9px 14px; border: 0; border-left: 5px solid #d32f2f;">0.382 Fib</td>
     <td style="padding: 9px 14px; border: 0; font-weight: bold; color: #0b1f3a;">$0.125</td>
     <td style="padding: 9px 14px; border: 0; text-align: right;"><span style="background: #fde8e8; color: #b71c1c; padding: 3px 10px; border-radius: 12px; font-size: 12px; font-weight: bold;">Resistance</span></td>
    </tr>
    <tr style="background: #f6f8fc; border: 0;">
     <td style="padding: 9px 14px; border: 0; border-left: 5px solid #e57373;">50-day EMA</td>
     <td style="padding: 9px 14px; border: 0; font-weight: bold; color: #0b1f3a;">$0.117</td>
     <td style="padding: 9px 14px; border: 0; text-align: right;"><span style="background: #fde8e8; color: #b71c1c; padding: 3px 10px; border-radius: 12px; font-size: 12px; font-weight: bold;">Resistance</span></td>
    </tr>
    <tr style="background: #ffffff; border: 0;">
     <td style="padding: 9px 14px; border: 0; border-left: 5px solid #ef9a9a;">0.618 Fib</td>
     <td style="padding: 9px 14px; border: 0; font-weight: bold; color: #0b1f3a;">$0.111</td>
     <td style="padding: 9px 14px; border: 0; text-align: right;"><span style="background: #fde8e8; color: #b71c1c; padding: 3px 10px; border-radius: 12px; font-size: 12px; font-weight: bold;">Resistance</span></td>
    </tr>
    <tr style="background: linear-gradient(90deg,#fff3cd 0%,#fffaeb 100%); border: 0;">
     <td style="padding: 10px 14px; border: 0; border-left: 5px solid #f59e0b; font-weight: bold;"><img src="https://s.w.org/images/core/emoji/17.0.2/72x72/25b6.png" alt="▶" style="height: 1em; max-height: 1em;"> Price now</td>
     <td style="padding: 10px 14px; border: 0; font-weight: 800; color: #0b1f3a;">$0.106</td>
     <td style="padding: 10px 14px; border: 0; text-align: right;"><span style="background: #f59e0b; color: #ffffff; padding: 3px 10px; border-radius: 12px; font-size: 12px; font-weight: bold;">▼ 8%</span></td>
    </tr>
    <tr style="background: #ffffff; border: 0;">
     <td style="padding: 9px 14px; border: 0; border-left: 5px solid #81c784;">0.786 Fib</td>
     <td style="padding: 9px 14px; border: 0; font-weight: bold; color: #0b1f3a;">$0.102</td>
     <td style="padding: 9px 14px; border: 0; text-align: right;"><span style="background: #e6f4ea; color: #1b5e20; padding: 3px 10px; border-radius: 12px; font-size: 12px; font-weight: bold;">Support</span></td>
    </tr>
    <tr style="background: #f6f8fc; border: 0;">
     <td style="padding: 9px 14px; border: 0; border-left: 5px solid #2e7d32;">August floor</td>
     <td style="padding: 9px 14px; border: 0; font-weight: bold; color: #0b1f3a;">$0.0908</td>
     <td style="padding: 9px 14px; border: 0; text-align: right;"><span style="background: #2e7d32; color: #ffffff; padding: 3px 10px; border-radius: 12px; font-size: 12px; font-weight: bold;">Major support</span></td>
    </tr>
   </tbody>
  </table>
 </div>
</div>
<h2 id="0-0908-has-stopped-three-sell-offs-and-cc-is-drifting-back-toward-it">$0.0908 Has Stopped Three Sell-Offs, and CC Is Drifting Back Toward It</h2>
<p>The first support below the current price is the 0.786 retracement near $0.102. Directly beneath it, the $0.099 to $0.100 area served as the launch zone for the September breakout and is where buyers last showed real conviction. A break there would expose $0.0908, the horizontal floor that stopped declines on August 7, August 18 and September 16. Buyers would probably defend a fourth test, although each retest tends to thin out the orders resting at a level.</p>
<p>To invalidate the bearish setup, CC would first need to recover $0.111 and then close above the $0.117 to $0.118 cluster, where the 50-day EMA meets the 0.5 retracement.</p>
<h2 id="a-cheaper-cc-means-every-fee-dollar-burns-more-tokens">A Cheaper CC Means Every Fee Dollar Burns More Tokens</h2>
<p>Canton prices its network fees in US dollars per megabyte of traffic sent through the Global Synchronizer, the shared service that orders and confirms transactions across the network. Users settle those fees by burning the matching amount of CC at the on-chain USD/CC rate set through governance, while new tokens are minted separately as rewards for network participation, a design Canton calls burn-and-mint equilibrium. The $155 million figure therefore measures tokens destroyed for network services and should not be read as revenue or profit for any company.</p>
<p>Because fees are priced in dollars, the token price directly shapes how much supply each day removes. CertiK put Canton’s median daily fees at $1.71 million, and at CC prices between $0.09 and $0.145 that equals roughly 12 million to 19 million tokens burned daily, comparable to the 12.25 million CC traded on OKX’s CC/USDT pair by midday Thursday. A lower token price means each dollar of fees removes more CC from circulation, which partly cushions the supply side during a sell-off. CertiK did not publish issuance data alongside the fee figures, so the net change in circulating supply cannot be calculated from these numbers alone.</p>
<h2 id="canton-s-daily-fee-burn-has-shrunk-15-since-june">Canton’s Daily Fee Burn Has Shrunk 15% Since June</h2>
<p>Set against earlier data, the first-place ranking looks less dominant, as <a href="https://defillama.com/chain/Canton" rel="noopener noreferrer nofollow">DefiLlama recorded $60.2 million in Canton fees</a> over the 30 days to June 26, a pace close to $2 million a day, against the third-quarter average of roughly $1.71 million, which implies a slowdown of roughly 15% from the early-summer level, although the two trackers use different methodologies, so the gap is indicative rather than exact. CertiK also did not disclose which blockchains were included in its comparison or their individual totals, and that limits how much weight the ranking can carry on its own.</p>
<div style="margin: 28px 0; border-radius: 12px; overflow: hidden; box-shadow: 0 4px 16px rgba(11,31,58,0.12);">
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  <div style="font-size: 17px; font-weight: bold;">
   Canton Fee Pace: June vs Q3 2026
  </div>
  <div style="font-size: 13px; opacity: 0.8; margin-top: 2px;">
   Source: DefiLlama, CertiK Skynet
  </div>
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  <table style="width: 100%; min-width: 400px; border-collapse: collapse; font-size: 15px; line-height: 1.35;">
   <thead>
    <tr style="background: #e6f2f4;">
     <th style="padding: 9px 14px; text-align: left; color: #0b1f3a; font-size: 12px; letter-spacing: 0.5px; text-transform: uppercase;">Period</th>
     <th style="padding: 9px 14px; text-align: left; color: #0b1f3a; font-size: 12px; letter-spacing: 0.5px; text-transform: uppercase;">Total fees</th>
     <th style="padding: 9px 14px; text-align: left; color: #0b1f3a; font-size: 12px; letter-spacing: 0.5px; text-transform: uppercase;">Daily pace</th>
    </tr>
   </thead>
   <tbody>
    <tr style="background: #ffffff;">
     <td style="padding: 12px 14px; font-weight: 600;">30 days to June 26</td>
     <td style="padding: 12px 14px; font-weight: bold; color: #0b1f3a;">$60.2M</td>
     <td style="padding: 12px 14px; min-width: 150px;">
      <div style="font-weight: bold; color: #0f766e; margin-bottom: 4px;">
       ~$2.0M
      </div>
      <div style="background: #e5e7eb; border-radius: 6px; height: 8px; width: 100%;">
       <div style="background: linear-gradient(90deg,#14b8a6,#0f766e); height: 8px; border-radius: 6px; width: 100%;"></div>
      </div></td>
    </tr>
    <tr style="background: #f6fafb;">
     <td style="padding: 12px 14px; font-weight: 600;">Q3 2026</td>
     <td style="padding: 12px 14px; font-weight: bold; color: #0b1f3a;">$155.36M</td>
     <td style="padding: 12px 14px; min-width: 150px;">
      <div style="font-weight: bold; color: #b45309; margin-bottom: 4px;">
       ~$1.71M
      </div>
      <div style="background: #e5e7eb; border-radius: 6px; height: 8px; width: 100%;">
       <div style="background: linear-gradient(90deg,#fbbf24,#d97706); height: 8px; border-radius: 6px; width: 85%;"></div>
      </div></td>
    </tr>
    <tr style="background: #0b1f3a;">
     <td style="padding: 10px 14px; color: #ffffff; font-weight: 600;">Change in daily pace</td>
     <td style="padding: 10px 14px; color: #cbd5e1;">Q3 vs June</td>
     <td style="padding: 10px 14px;"><span style="background: #dc2626; color: #ffffff; padding: 3px 10px; border-radius: 12px; font-size: 12px; font-weight: bold;">▼ about 15%</span></td>
    </tr>
   </tbody>
  </table>
 </div>
</div>
<p>Most of Canton’s activity comes from institutional finance, including tokenized securities, bank deposits and repurchase agreements, where usage tracks settlement demand in traditional markets far more closely than crypto sentiment. That gives the fee data a different driver from CC’s trading price, and DefiLlama’s October figures will offer the first read on whether the third-quarter slowdown deepened or levelled off during the token’s latest drawdown. On the chart, the near-term test is Thursday’s daily close relative to $0.111, followed by how CC trades if it reaches the $0.099 to $0.102 zone.</p>
<p>The post <a href="https://ethnews.com/canton-coin-burns-155m-in-fees-yet-sellers-just-broke-its-support/" rel="noopener noreferrer nofollow">Canton Coin Burns $155M in Fees, Yet Sellers Just Broke Its Support</a> appeared first on <a href="https://ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Canton Coin Burns $155M in Fees, Yet Sellers Just Broke Its Support

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