If you’re new to the cryptocurrency space, one thing that you’ll always be on the lookout for is projects that have significant room to expand their community and growth. It has become a well-known fact that cryptocurrencies that have high returns on investments are the best to invest in and also hold.
Multiple crypto tokens are available, and new ones appear daily. This can make you may wonder, which is the best to look at that will have future advantages and give good returns? Well, don’t search too far.
The Canto token is one that recently surged astronomically, and many crypto analysts and top investors have expressed their interest and seen it as one to keep an eye out for. But as previously stated, the Canto token is a fantastic token that investors and top crypto advisors have been looking at and analyzing.
Will the Canto token be a good investment? Will it have an upsurge in price, and does it have the potential to become a life changer?
Overview of the Canto token
The Canto tokens are one of the hottest and most promising cryptocurrencies out there right now, and it is said to be one of the best.
Canto is operated on an Ethereum virtual technology and it is a layer-1 blockchain. It is under the of the cosmos family of blockchains, services, and applications and it gives NOTE as a native stablecoin. The coin was launched in August 2022, and it was built through a community of DeFi proponents.
The main aim and purpose of this project are to have an ecosystem built on the promises of DeFi and put itself in the center as the choice execution center that aids in developing and bringing different incentives for the betterment of DeFi protocols.
Scott Lewis, one of the founders of Slingshot crypto and the famous DeFi Pulse, is a significant contributor and one of the head forces in the Canto token. Another team of benefactors, called the Plex team, is responsible for the building of the network and its free public infrastructure.
Canto differs from many other cryptocurrencies as it was launched without base foundations, vesting, or backings from a venture or a presale. And with decentralization at the center of its core, Canto was established with the help of different contributors who all aim to fulfill the promises of DeFi.
Before the market became unstable in November 2022, Canto’s Total Value Locked was steadily growing, and it reached a peak of $163.46 million, and since then, it has reached new highs. It’s currently around $197 million in total value locked. This shows that Canto is an exciting project that has potential.
What makes Canto different from its competitors?
• Canto is one of the few layer-1 blockchains developed with a Cosmos software development kit and the tender mint core.
• It gives power back to its users by pushing for an area free of rent-searching behavior for many DeFi projects.
• Canto has an aim of offering the materials of DeFi as an accessible public infrastructure.
• There is free liquidity for protocols, traders, and other parties participating in the project.
• Canto develops a free public infrastructure without using sovereign governance tokens
Is the Canto token legitimate?
This is a common that is asked by most people who are interested in a cryptocurrency project. No one will want to invest in a project that’s not safe.
But through thorough research and investigation, it can be said that the Canto Token is legal and you don’t have to be worried about it being a scam. It can be acquired and traded through different platforms.
Canto price history
It is well known that the past prices of a cryptocurrency should never be used to judge future results, but knowing how Canto previously performed is an excellent way to predict its future outcome. Canto has a market cap of $208.24 million, and it reached an all-time high of $0.767517 on the 5th of November, 2022, and over the months, it started to reduce. It is currently at $0.471854 and has a total market volume of $28,752,683.
Canto only has a supply of 1 billion tokens, and 15% is going to the main contributors, while the remaining shall be distributed to others through liquidity mining. It is relatively small but gaining traction and popularity to become a big blockchain.
Canto has been predicted to become a prominent cryptocurrency in the market, and it is expected to rise by 60.57% and reach a figure of $0.748186 by the 26th of February, 2023, which is near its all time high.
Where can you buy the Canto token?
People have been questioning whether this token is a good investment and if it will yield future profits. Well it is, but it is always important to do you know own personal research so you will know what you are getting into. It is also essential that you know where and how you can get this token.
The Canto token can be traded on most decentralized exchanges, and the most secure place to buy the token is Canto Dex. Other popular exchange platforms where you can swap this coin are BTCEX and MEXC global.
On these websites, you can easily exchange these tokens for other ones and get the Canto coin. But it’s important to note that it isn’t yet available on popular platforms like Binance.
The Canto token is one of the most promising cryptocurrency projects predicted to be a big hit. It has a relatively low price, so it’s something that you can risk and expect to yield profit in the future.
Holding this coin is advised so you won’t miss out on the opportunity. Although the cryptocurrency market is very volatile, it is always advised that you invest wisely and only spend money that you can afford to lose.