Canton (CC)
Canton ranks #17 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #27: 10 of the 26 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 17 non-native assets CoinSpectrum lists above it by market cap, 13 are claims on other assets and 4 are tokens.
| CoinSpectrum Grade | A · 64/100 · provisional, C to A |
|---|---|
| Rank among cryptocurrencies | #17 |
| Rank counting claims | #27 |
| Market capitalisation | $3.6B |
| Price | $0.0890 |
| Circulating supply | 40,032,334,587 CC |
| Maximum supply | no fixed cap |
| Consensus family | Federated |
| Consensus mechanism | Canton BFT (privacy L1) |
| Network purpose | Settlement ledger |
| Ledger type | Multi-asset ledger |
| Launch distribution | No premine |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
A — 64 out of 100, provisional (from 9 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 49 to 70 (C to A).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 8.2 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 8.2 | Federated: 8.2 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 8.2 | Federated: 8.2 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 5.8 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 6.4 | no fixed maximum; 40 billion in circulation |
| Distribution | 10 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 10 | 0% of today's supply allocated at launch to founders, a company, a foundation or investors. No genesis allocation: the Canton Foundation states CC launched (initial phase July-Dec 2024) with no pre-mine, no pre-sale and no allocation to founders, VCs or the foundation; all ~39.9B CC (CoinGecko circulating) were minted as activity rewards. source |
| Fundraising (share sold) (Source) | 10 | No sale of the coin source |
| Developer share (after launch) | 9.9 | Developer share: about 0.9% of today's supply received so far; 5% of each new block reward goes to them today. CIP-0082 (approved 1 Oct 2025) sends 5% of every Canton Coin mint round, taken pro rata from SV, validator and app rewards, to a Development Fund controlled by the Canton Foundation (IssuanceConfig.optDevelopmentFundPercentage, default 5%); it went live with the CIP-0100 spend process in Feb 2026. About 8.5 months at the ~10B CC/yr curve x 5% = ~0.35B, against ~39.9B CC = ~0.9%; actual mints can run below the curve, so treat the share as approximate. Featured-app rewards to application builders and Super Validator rewards (including the Foundation's own SV weight) are not counted as a cut. source |
| Decentralisation | 4.4 | average of 4 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: The DSO can expire dust amulets whose holding fees exceed their value, but has no choice to freeze or seize an ordinary holder's Canton Coin. source |
| No central team (Source) | 0 | A central team directs it: Digital Asset develops both Canton (Apache 2.0) and the Splice applications that run the Global Synchronizer, and its engineers write nearly all of the code. source |
| Who can mint (Source) | 2 | Gated by registration: producers admitted by name, licence or company registration: an allow list, federation, council or proof of authority |
| Nodes (Source) | 5.5 | 45 active validators or block producers source |
| Security | 8 | 4.8 of 6 points, 2 not yet measured source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 10 | largest 15.4%, largest three 38.5% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | – | |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 1 | not mined: another consensus, 1 |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | 7 | one client, latest version Oct 2026 |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | — | too few measures yet source |
| Fees ($0.001 or less 10, $1 or more 0) | – | not yet measured |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | – | not yet measured |
| Block time (10 minutes 10, less either side) | 1.1 | a block every 2 seconds |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | – | not yet measured |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✓ | The Global Synchronizer's BFT ordering confirms and finalises transactions within a few seconds. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | Canton participant and synchronizer pruning removes old ledger data while the node keeps current active contracts. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | No light-client protocol; parties rely on their participant node. |
| Privacy | 7 | 7 of 10: whitepaper privacy 7 of 7, extra features 0 of 3, 1 not yet researched source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Holding Canton Coin needs a party hosted on a validator node (validators are onboarded by super validators); the Splice rules carry no identity check of the holder. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 10 | Coins are separate unspent outputs: a payment spends whole outputs and sends the change to a new address, so the coins in one wallet need not share a history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 0 | Canton hides amounts from non-stakeholders by need-to-know encryption and access control, not by cryptographic hiding such as confidential transactions or zero-knowledge proofs. |
| Hidden parties (Sender and receiver hidden) | 0 | Canton keeps parties from non-stakeholders through encryption and access control, with no ring signatures, zero-knowledge proofs or stealth addresses. |
| Network privacy (Origin hidden by default) | 0 | No transaction-origin hiding at the network layer; submitting participants are known to the synchronizer. |
| Programmability | 1.4 | 1 of 7 points, 2 not yet researched source |
| Token issuance | 0 | No token issuance on the chain itself |
| Smart contracts | 0 | Daml contracts run only on validator nodes, and MainNet validators need Tokenomics Committee approval, an IP allowlist entry and an SV sponsor's onboarding secret, so the contract system is not open for any user to deploy to; rule applied as for permissioned contract layers elsewhere. |
| Multisig and time locks (Without a third party) | – | Threshold-controlled party namespaces and submission keys (e.g. 3 of 5) give native multi-signature, but no time-locked spending for ordinary users is documented. |
| Atomic swaps (With other chains) | – | No HTLC or adaptor-signature swap with another chain is documented; custom Daml would need a permissioned validator. |
| Native DEX (Trades the coin itself, not a claim) | ✓ | Traded as itself, not as a wrapped token or a claim: its own chain's DEXes (Canton, DefiLlama). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | Synchronizers connect Canton participants to one another, not to other blockchains; no protocol messaging to other chains is documented. |
| NFTs (Carried by the chain's rules) | ✗ | Token contracts (CIP-56 interfaces) require a permissioned validator node to issue, so no open NFT route exists. |
| Demand | 6.5 | average of 7 measures |
| Exchanges (10 or more: 10) | 10 | 21 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 6 | $7,767,391 traded in 24 hours; #132 by volume on the exchanges the site reads (scored on the median day of the last 30, $10,480,474) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 3.2 | 0.25% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 7.1 | $4,714,299 within 2% of the price on 7 exchanges, 0.13% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 8.9 | $3.6B, 8.9 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 9 | futures, options and margin positions 0.97% of its market cap |
| Wallet support (wallets that hold it, 10 or more: 10) | 1 | its own node and wallet, counted as 1: no wallet in the site's directory lists it yet |
| Record | 6.3 | average of 3 criteria |
| Age (years since genesis) (Source) | 1 | 1 full year since 2025-11-10, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 8 | 3 positive, 0 negative, 2 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 6,145 commits in 12 of the last 12 months (github.com/hyperledger-labs/splice); Splice (Canton Network / Global Synchronizer) release 0.9.4 on 2026-10-22; weekly releases. |
| Shipped a security fix in two years, +1 | ✓ | Splice 0.5.14, Mar 2026: fixed credentials (Postgres passwords, Ledger API tokens) leaking in plaintext into validator logs. |
| Shipped a scaling upgrade in two years, +1 | ✓ | CIP-0078 (Final), 2026: eliminated transaction fees on Canton Coin transfers. |
| Not yet researched | ||
| Shipped a privacy improvement in two years | – | |
| Shipped a new capability for users in two years | – | |
| Conduct (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
Federated coins
XRP XRPA
Stellar XLMA
Pi Network PIB
MobileCoin MOBB
GUNZ GUNB
Obyte GBYTEA
XDB CHAIN XDBAll Federated chains →Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Monero XMRA+
Bitcoin Cash BCHA++
Litecoin LTCA+
Ethereum Classic ETCAAll Proof of Work chains →Supply
40,032,334,587 CC are in circulation, against no fixed cap — issuance has no defined end.
Launch and allocation
| Premine (allocated at launch) | 0% of today's supply |
|---|---|
| Developer share received since launch | 0.9% of today's supply |
| Developer share of new coins today | 5% |
| Nodes or validators | 45 |
| Fundraising | No sale and no investor round |
No genesis allocation: the Canton Foundation states CC launched (initial phase July-Dec 2024) with no pre-mine, no pre-sale and no allocation to founders, VCs or the foundation; all ~39.9B CC (CoinGecko circulating) were minted as activity rewards.
No sale of CC by the project. Digital Asset (the company behind Canton) raised $135M in equity in 2025 (DRW, Tradeweb-led), and Tharimmune raised ~$540-545M in a Nov 2025 private placement to build a CC treasury, partly contributed in CC by DRW and Liberty City Ventures (both Super Validator-linked) - those are secondary transfers of minted coins, not a token sale by the issuer.
CIP-0082 (approved 1 Oct 2025) sends 5% of every Canton Coin mint round, taken pro rata from SV, validator and app rewards, to a Development Fund controlled by the Canton Foundation (IssuanceConfig.optDevelopmentFundPercentage, default 5%); it went live with the CIP-0100 spend process in Feb 2026. About 8.5 months at the ~10B CC/yr curve x 5% = ~0.35B, against ~39.9B CC = ~0.9%; actual mints can run below the curve, so treat the share as approximate. Featured-app rewards to application builders and Super Validator rewards (including the Foundation's own SV weight) are not counted as a cut.
Sources: github.com · docs.canton.network · github.com · canton.foundation · canton.network · stakingrewards.com. Researched 2026-10-24, medium confidence.
What a regulator has said
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
How CoinSpectrum ranks Canton
Canton is #17 among cryptocurrencies and #27 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 10 places between Canton's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).
See the 1 wrapped and staked claim on Canton →