Canton Network's token (CC) rallied nearly 8% on Thursday following Societe Generale's entry as an Ecosystem Super Validator. The bank's SG-FORGE unit will deploy euro and dollar stablecoins for institutional settlement, marking a significant development for the network. This move helped CC break above its $0.15 accumulation zone and surpass a descending trendline from its February 3 all-time high.
The token printed a 6.94% bullish daily candle, targeting the 0.618 Fibonacci retracement at approximately $0.17. The breakout aligns with a reclaim of the $0.15 zone earlier this week, with the next resistance at $0.17254. Societe Generale's involvement introduces regulated stablecoin settlement, enhancing Canton’s institutional appeal. Traders are watching for a decisive move through $0.17 to confirm a sustained breakout.
Canton Network Surges 8% as Societe Generale Joins as Super Validator
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