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As we enter the new year, thoughts Cross crypto has been around a lot. Prediction markets, stablecoins and RWAs have emerged as clear winners, while AI, modularity and memecoins have fallen out of favor. One plan that made headlines this week covered two of the three headlines and has been quietly making impressive strides: the Canton Network.
Canton is a blockchain built for financial institutions, designed for secure, collaborative and private transactions. Its logo was transferred on Nov. 10 and, after an initial drop of 50%, has fully recovered. It is now up 47.6% over the past month.
The growth of RWA activity on the internet is obvious. Like about Q4 2025Canton has managed $6 trillion in real estate and currently processes $350 billion a day in US Treasury activity. Most of these resources come from organizations such as Broadridge Financial Solutionsa global fintech leader in marketing and implementation. Broadridge’s Distributed Ledger Repo platform runs on Canton and does more than that $8 trillion a month in repo transactions, using blockchain technology to facilitate one of the world’s largest financial markets.
Momentum has continued to grow through deep integration. A agreement and Nasdaq connects Canton with Nasdaq Calypso, which facilitates credit and collateral management and allows organizations to navigate and spend more effectively on traditional and digital assets. Recently, the DTCC, the backbone of the regulation and regulation of the US financial markets, chosen ones Canton to support RWA tokenization. The initial issuance will allow a portion of the US assets held in DTCC to be offered to Canton following approval by the SEC. Since DTCC makes sense $10 trillion For everyday security operations, the ability to move from T+2 to near real-time can improve operational efficiency and free up capital in existing markets.
Network usage is closely linked to branding. Canton’s Global Synchronizer synchronizes the activities of various groups, with a predetermined amount of money paid in CC that is burned as the network activity increases. Over the past 20 days, the network has burned an average of 6.71 million tokens per day, equivalent to about $627,000 per day, with peaks between $750,000 and $850,000. In his words, Solana was almost $670,700 in REV every day in the last seven days, yet trades at a FDV of about 16x that of Canton.
User metrics complete the picture. Since November, Canton has had about 28,500 daily users and 678,300 daily activities, putting it. respectively and networks like Monad for DAUs and Ton for accounting.
There’s still a lot to unpack around architecture, validation and long-term design, but the early signs are hard to ignore. Featuring issues such as tokenization, stablecoins and privacy, Canton is shaping up to be one of the most exciting protocols to watch as we enter 2026.
Pictures of TGE
A light storm will trigger the LIT on Dec. 30, to close the time when traders have been trying to stress through the Polymarket partnership that worked well as a TGE agent. Odds briefly dropped to ~60% intraday before the launch.
The total amount of LIT is 1 billion while 250 million is circulating in TGE, 25% floating in one day. The Airdrop was supported by Seasons 1 and 2 points, where 12.5 million points were converted to LIT, which means about ~20 LIT for every point in a math topic. The distribution is 50% natural (25% now, 25% later), 26% group, and 24% investors. Groups and investors sit behind a one-year rock followed by a three-year wear. In light of this, commodity prices have fallen significantly after the TGE, with buyers dropping 50% from their peak which translates to about $100 per point above.
The most interesting argument is not the airdrop, but the security with a token. Lighter is leaning towards a non-equity token approach, arguing that DEX-based funds and futures can be tracked on-chain in real-time and split between growth and buybacks based on the situation. It goes on to say that the price generated by all products and services will go to LIT holders, with a token issued directly from its US C-Corp, which will use the protocol “for the price.” On the other hand, that is a stronger condition than the normal profit labs, but it is not guaranteed: “For the price” is elastic (for example, the salary of the workers of the Uniswap Foundation).
On comps, the market sees Light as similar to Hyperliquid. At $2.7 billion of FDV and $700 million in circulation, Lighter’s float is ~25.9%, roughly the same as Hyperliquid’s ~25.4% ($24 billion FDV and $6.1 billion in circulation). More importantly, Lighter is trading at multiple payouts already in Hyperliquid: 26.6x FDV/annual payout (and 6.9x revolving/annual payout) vs. Hyperliquid at 29.9x (and 7.6x). This is despite the huge difference in the amount, Lighter published $8.5 million in 30D payments against Hyperliquid’s $66.8 million, and Lighter’s open interest is $1.45 billion vs. 7.44 billion of Hyperliquid.
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