By Omkar Godbole Institutional headlines are cutting through a gloomy macro backdrop this week, lifting a couple of tokens tied to real-world adoption even as bitcoin and ether slide. Two notable winners: Canton Network’s CC token jumped about 7% in the past 24 hours, while Ondo Network’s ONDO rose roughly 9%—making them the top performers among the largest 100 tokens by market value. Both rallies are driven by concrete institutional deals rather than market sentiment. Why CC popped Visa said it’s joining Canton Network as a super validator, a role that helps secure and validate transactions. The payments giant framed the move as extending “privacy‑preserving blockchain infrastructure to banks and financial institutions around the world.” That matters because Canton is designed to let institutions transact on-chain without exposing sensitive data to other network participants—an attribute bankers repeatedly flagged at Consensus Hong Kong as essential for scaling blockchain use. Investment banks such as JPMorgan, and trading firms including Abraxas and B2C2, have emphasized that institutions are unlikely to move volume to fully transparent networks where proprietary financial information could leak. Why ONDO is rallying Ondo’s gain is tied to its growing leadership in tokenizing traditional assets. Earlier this week the firm announced a partnership with Franklin Templeton to tokenize conventional financial instruments—an endorsement that highlights Ondo’s early mover advantage in real-world-asset tokenization. Macro pressure still weighs on the market Despite those institutional wins, broader markets remain fragile. Geopolitical tensions, rising oil prices and expectations for an upcoming Fed rate decision are pressuring risk assets. Bitcoin slipped roughly 3% to the mid‑$60,000s (near $66,800), while ether and XRP registered similar losses. Solana’s SOL fell more than 5%, and the CoinDesk 20 Index dropped about 3%. Spot ETF flows and expiration dynamics are adding to volatility. Marex analysts said renewed outflows from spot bitcoin ETFs have returned “in size,” removing a steady bid and making downside moves feel less supported. With the quarterly options expiry behind the market, Marex noted, attention returns to fundamental catalysts: oil, geopolitical developments, interest rates and risk appetite. Adding to the caution, government bond yields across advanced economies, including the U.S. and Japan, are on the rise. Further reading - For more on today’s altcoin and derivatives activity, see Crypto Markets Today. - For a fuller calendar of events this week, see CoinDesk’s “Crypto Week Ahead.” Source: Farside Investors Read more AI-generated news on: undefined/news

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