CANTO Rises From the Ashes, Spiking 250% Before Crashing Back Down

CANTO, the native token its namesake's layer-1 blockchain, experienced a volatile trading session on Thursday, rising by 250% before losing 60% of its value over the subsequent six hours. The platform had lost the majority of its TVL (total value locked) and trading appetite after a feverish launch last year that saw it reach a $238 million market cap with $204 million in TVL.It currently has just $4.6 million worth of assets locked on the chain as a network outage prompted an exodus from the chain source: https://www.coindesk.com/markets/2025/05/29/canto-rises-from-the-ashes-spiking-250-before-crashing-back-down