On Monday, the Canton (CC) price soared by around 10% on a daily chart, following a bullish sentiment in the cryptocurrency market and HSBC’s successful pilot of its Tokenized Deposit Service on the network.

At the time of writing this, the Canton price is hovering around $0.1568 with a 10% hike in the last 24 hours, according to CoinMarketCap. The cryptocurrency currently holds a whopping market capitalization of around $6.02 billion. Its daily trading volume also jumped by around 103% and currently revolves around $20.63 million.

Canton Soars with Growing Institutional Adoption and Bullish Sentiment in Crypto Market

In today’s trading session, the cryptocurrency traded between a low of $0.1564 and a high of $0.1564. The cryptocurrency is showing strong upward momentum and is now consolidating near recent highs. A break above $0.1580 would confirm a bullish momentum in the cryptocurrency. On the other hand, if the cryptocurrency falls below $0.1520, it would create bearish pressure in the market.

Despite some minor drops due to the Kelp DAO hack incident, the overall crypto market is filled with bullish sentiment. On Monday, Bitcoin (BTC) price soared by around 1.6% and is currently trading near $76,000 with a $1.52 trillion market capitalization.

According to TradingView’s price chart, the token is following a clear upward trajectory with higher highs and higher lows that started in early March. On the daily chart, the price is sitting inside a rising channel and recently rejected the $0.145 support zone before surging in the upward direction.

The Relative Strength Index on the 14-day timeframe is sitting around 71, which suggests that the cryptocurrency is in the overbought territory. The 10-period exponential moving average is sitting at around $0.149 and acts as dynamic support.

The price is currently trading above both the 50-period simple moving average, around $0.147, and the 200-period simple moving average, near $0.135. These moving averages are confirming the medium-term bullish bias.

There is a major resistance level at around $0.158 and $0.160. Also, if the cryptocurrency soars above $0.165, then it could open the door toward the next liquidity zone at around $0.180.

HSBC Tests Tokenized Deposit Service on Canton Network

The surge in the Canton comes after a major development, in which Hongkong and Shanghai Banking Corporation (HSBC), the world’s largest multinational banking and financial services organization, has tested a pilot of its Tokenized Deposit Service on the Canton Network.

On April 13, HSBC simulated the issuance, transfer, and atomic settlement of tokenized deposits against other digital assets for the first time on a public blockchain. Such developments are showing the growing adoption of blockchain technology in the banking sector.

The test used five major currencies, including the United States dollar, euro, British pound, Hong Kong dollar, and Singapore dollar. This pilot has shown how banks issuing digital cash can move instantly and settle alongside tokenized securities within regulated workflows.

HSBC also expanded the same service to the United States clients on the very same day. Investors viewed the pilot as proof that the Canton network can connect traditional bank money with on-chain assets in a compliant way, and this news triggered fresh buying across the market.

Apart from this, Visa became the first payments company to join as a Super Validator in March 2026 to enable privacy-preserving on-chain payments. The LayerZero integration went live, allowing Canton assets to move securely to more than 165 other blockchains.

Due to this growing network activity, the Canton Network has recorded a steady rise in transaction volume during the first quarter of 2026, with monthly figures surpassing several trillion dollars in settled value across institutional workflows. According to the Canton dashboard, the network fees averaged around $2.34 million daily.

This detailed match analysis covers key moments, player performances, and tactical insights.