This year has been a tough sail for CANTO since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of CANTO.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for CANTO to reclaim its all-time high in 2023? Continue with the article to learn about CANTO price analysis and prediction by Coinpaper.
Read also: Meet XEN Crypto — a new hype project that turned ETH deflationary
What is CANTO?
Canto is a Cosmos-based Layer 1 blockchain that aims to provide DeFi core primitives (DEX, lending protocol, and decentralized stablecoin) as free-to-use public utilities, without centralizing features like an official foundation and a token presale. The network experienced an explosive growth early in 2023 on the news that crypto venture fund Variant has invested an undisclosed amount in Canto. Between December 2022 and late January 2023, Canto’s TVL more than doubled, from $66 million to $138 million, and its native token CANTO rallied over 700%.
CANTO (CANTO) price
Currently, CANTO Price is USD. CANTO has a circulating supply of coins and a total supply of . If you are looking to buy or sell CANTO, Bitget is currently the most active exchange.
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CANTO price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish CANTO 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see CANTO price at $1.05 to $1.18. On the flip side, a fading interest in the new meme coin may push the price of CANTO to $0.213-$0.086 lows.
CANTO price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to CANTO (CANTO) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of CANTO to climb as high as $1.53, with the more distant prospect of reaching $2.13 in 2024. The bearish scenario is likely to see CANTO (CANTO) trading between $1.03 and $0.912 in 2024.
CANTO price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our CANTO (CANTO) price analysis and prediction is based on pure speculation and observation of CANTO historical price movements.
Our CANTO 2025 price forecast expects CANTO to rally towards $2.85 and reach $3.83 by the end of the year. The bearish scenario would see CANTO at $2.11 to $1.63.
CANTO (CANTO) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for CANTO is neutral. In 2026, we expect CANTO to reach at least $4.16 before climbing higher to $5.23. In case of a bearish scenario, CANTO may fall to $3.36.
Is CANTO (CANTO) a good investment?
Canto’s latest gains has been largely driven by the news that it had secured investment from a renowned VC firm, but for now, it’s unclear whether the new buzzy blockchain will retain its hype and secure a steady growth. Until the dust settles, CANTO token can be only viewed as a highly speculative investment that should represent a tiny fraction of your portfolio if you decide to give it a shot. Remember that past performance is no guarantee of future results, and always do your own research before investing in any cryptocurrency.
Bottom line
Are you ready to invest in CANTO? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy CANTO from many crypto exchanges, including Bitget
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created CANTO?
The leading force behind Canto is Scott Lewis, co-founder of DeFi Pulse and Slingshot Crypto. Besides Lewis, there are other groups of contributors responsible for the development of the network, namely the Plex team, the B-Harvest team, and NeoBase.
What was the all-time high for CANTO (CANTO) ?
The all-time high price of CANTO is $ on 2023-02-02
