Gate Research: Canton Network secures strategic investment | SN surges over 90% against the market

Crypto Market Overview

• BTC (-0.87% | Current Price: 92,345 USDT): After a period of consolidation at higher levels, BTC has shifted into a weaker corrective pattern over the past 24 hours. The price encountered repeated resistance near 93,000 USD and failed to break through effectively. Meanwhile, short-term moving averages (MA5, MA10, EMA9) have flattened or begun to turn slightly downward, signaling weakening short-term bullish momentum. BTC is currently trading below several short-term moving averages and approaching the mid-term MA30, indicating that the market is transitioning from a previously strong phase into a consolidation stage. Overall trading activity remains subdued, with candlesticks showing small bodies and long wicks, reflecting cautious sentiment and a noticeable cooling of buying interest compared with earlier periods.
• ETH (-1.12% | Current Price: 3,174 USDT): After a sharp correction, ETH has gradually stabilized at lower levels and formed a clear rebound structure within a short period. The price has reclaimed the 3,150 USD range and is testing short-term moving averages from below. Short-term moving averages (MA5, MA10) have begun to curve upward again and have repeatedly provided support during pullbacks, suggesting strengthening buying pressure from below. Although ETH is not yet fully distanced from the MA30, it has moved back above it and is gradually widening the gap, indicating that a rebound trend is taking shape.
• Altcoins: Most major altcoins are showing mild declines, with overall market sentiment leaning toward “neutral” or “buy.” The Fear & Greed Index stands at 28 today, remaining in the “fear” zone, suggesting that market sentiment is still relatively subdued.
• Macro: On December 4, the S&P 500 Index rose 0.11% to 6,857.12; the Dow Jones Industrial Average fell 0.07% to 47,850.94; and the Nasdaq Index gained 0.22% to 23,505.14. As of 14:00 on December 5 (UTC+8), spot gold is trading at 4,227 USD per ounce, with a 24-hour increase of 0.45%.

Trending Tokens

SN - SpaceN (+92.46%, Market Cap: $176M)

According to Gate market data, the SN token is currently priced at 4.13 USD, having surged approximately 92.46% over the past 24 hours. SpaceN is an all-in-one NFT investment management platform that automatically tracks users’ NFT trading performance, allowing them to monitor changes in their NFT portfolios in real time. SpaceN aggregates fundamental data and updates from various NFT projects, enabling users to access valuable project information in a single place. It also aims to serve as a platform for users to create self-organized DAOs, empowering them to build their own DAO communities and issue their own NFTs.

Over the past 24 hours, SN has shown significantly expanded volatility accompanied by a rapid upward breakout. After remaining in a narrow consolidation zone around 2.2 USD for an extended period, the token suddenly broke out with strong volume, rallying quickly to above 5 USD. This move forms a classic “accumulation at lows → explosive breakout” structure, with multiple large bullish candles suggesting concentrated capital inflows that accelerated the uptrend.

Following the peak, SN underwent a modest pullback and sideways consolidation, yet remains well above its pre-breakout range. This indicates that even after short-term profit-taking, bullish sentiment continues to dominate. Additionally, several intraday attempts to push higher show active capital participation and expectations for further upside momentum.

PRIME — Echelon Prime (+53.71%, Market Cap: $753.1M)

According to Gate market data, the PRIME token is currently trading at 1.34 USD, up approximately 53.71% in the past 24 hours. PRIME is an innovative project built around the Web3 ecosystem, aiming to drive the integration of digital assets, gamified applications, and decentralized networks through blockchain technology. The project focuses on providing scalable application scenarios and an efficient value-transfer infrastructure, while its open-protocol design encourages developers to contribute to ecosystem development.

PRIME has exhibited a choppy yet steadily rising trend throughout the past 24 hours. The price began lifting from around 0.90 USD and experienced several quick surges followed by pullbacks along the way. Nonetheless, each successive low has trended higher, indicating steadily strengthening buying pressure. Near the early-day session, PRIME once again saw strong volume inflows, breaking through 1.30 USD and holding in a high-level consolidation range with sufficient short-term momentum. Overall, PRIME has strengthened within a volatile uptrend, maintaining a bullish bias, though increasing volatility at higher levels calls for attention to potential pullback rhythms.

BOBA — Boba Network (+36.88%, Market Cap: $29.55M)

According to Gate market data, the BOBA token is currently priced at 0.05983 USD, marking a 14.05% increase in the past 24 hours. Boba, developed by the Enya team as a core contributor to the OMG Foundation, is an Ethereum Layer-2 scaling and enhancement solution. It represents a next-generation Optimistic Rollup framework designed to reduce gas fees, improve transaction throughput, and expand smart contract functionality. Boba also offers rapid withdrawals supported by community-driven liquidity pools, reducing the standard seven-day withdrawal period of Optimistic Rollups to just minutes, while providing yield-farming incentives for liquidity providers.

In the past 24 hours, BOBA broke out sharply from a prolonged consolidation phase, surging from around 0.044 USD to nearly 0.07 USD, presenting a clear strong-breakout structure. Although a brief pullback and volatility followed the initial spike, the token has remained within a high trading range, with bullish forces still dominant. Overall, this recent rally is driven largely by capital inflows and heightened sentiment following the breakout. The short-term trend remains strong, but rising volatility means traders should watch how high-level consolidation develops.

Alpha Insights

Canton Network Developer Secures Strategic Investment from Wall Street Giants

Digital Asset, the company behind Canton Network, has announced strategic investments from several major Wall Street institutions, including BNY, Nasdaq, S&P Global, and iCapital. The move reflects the growing demand among traditional financial players for compliant blockchain infrastructure. Canton Network is designed specifically for institutional use cases, enabling the issuance and trading of tokenized bonds, loans, funds, and other real-world assets under strict compliance and privacy requirements. It is increasingly becoming a key foundational network for Wall Street’s asset tokenization initiatives.

This investment follows Digital Asset’s 135 million USD funding round completed in June, which also included contributions from major financial institutions such as BNP Paribas, Goldman Sachs, and Citadel Securities. According to the company, more than 600 institutions are now participating in Canton Network, further solidifying its position as a core piece of institutional-grade blockchain infrastructure.

XRP Spot ETF Records 13 Consecutive Days of Net Inflows, Approaches 1 Billion USD in Total

Since launching on November 14, the spot XRP ETF has continued to draw steady capital inflows, marking 13 straight trading days of net inflows. On December 3 alone, related funds added 50.27 million USD, bringing total net inflows to 874 million USD. This makes it one of the fastest-growing crypto asset ETFs, highlighting the rapidly rising acceptance of XRP products within traditional financial markets.

Data also shows that the funds’ total trading volume reached 31.53 million USD on the same day, indicating robust capital activity. With inflows climbing steadily, the XRP ETF is now just one step away from the 1 billion USD milestone. Its strong performance underscores investors’ growing confidence in XRP as an ETF asset.

JPMorgan: MSTR’s Balance-Sheet Resilience, Not Miner Selling, Will Determine Bitcoin’s Short-Term Trend

In its latest report, JPMorgan stated that Bitcoin’s short-term price direction depends more on whether MicroStrategy (MSTR) can maintain its enterprise-value-to-bitcoin-holdings ratio above 1 — and continue avoiding BTC sales — rather than on miner selling pressure. Although network hash rate and mining difficulty have recently declined, and miners have been forced to sell coins due to high costs and low profit margins, analysts argue that this is not the decisive factor influencing market movement.

The institution further estimates that the current cost of producing Bitcoin is around 90,000 USD, and even slight changes in electricity prices can significantly impact the profitability of high-cost miners. JPMorgan’s analyst team also noted that their volatility-adjusted BTC–gold valuation model continues to point toward a theoretical price of around 170,000 USD over the next 6 to 12 months. The report emphasizes that amid price pressure, rising costs, and regulatory considerations, the key market focus remains on MicroStrategy’s balance-sheet strength — specifically whether it might be forced to sell its Bitcoin holdings during periods of heightened volatility.


References

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/trade/GT_USDT
• Gate, https://www.gate.com/price
• Gate, https://www.gate.com/launchpool/BSU?pid=355
• Defillama, https://defillama.com/revenue/chain/solana
• The block, https://www.theblock.co/post/381442/jpmorgan-strategy-bitcoin-price-outlook
• Coindesk, https://www.coindesk.com/markets/2025/12/04/xrp-etfs-extend-record-inflow-streak-to-13-days-closing-in-on-usd1b-milestone

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.