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CANTO has experienced significant volatility following the launch of the liquidity mining program, rising more than 2799% from $0.02 to as high as $0.58 between August 13 and August 18 while having since fallen 56.8% to $0.25. This initial price increase was likely fueled by yield farmers buying CANTO before incentives went live in order to maximize their rewards, while the sell-off has been driven by those farmers selling said rewards coupled with broader market weakness.
Canto is an intriguing L1 that is pushing the boundaries of DeFi experimentation. While it is unclear if the ecosystem will be able to attract long-term developers and liquidity after incentives run dry, Canto’s unique value proposition and parabolic growth make it worth keeping an eye on over the coming weeks and months.
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