Central African Republic Tokenizes Land on Solana $CAR Surges 21%

The Central African Republic (CAR) has announced a significant move to tokenize over 1,700 hectares of land on the Solana network, utilizing its meme token $CAR. This initiative, authorized by President Faustin-Archange Touadera through a presidential decree, marks a pivotal step in integrating cryptocurrency with real-world property and governance. Starting from June 2025, land concessions will be accessible online using $CAR, directly on the Solana blockchain. This development is expected to bring a new era of access and transparency to land ownership in the region.

The property in focus is located near the Bossongo village, an area with potential mineral wealth. The tokenization of this land is not only for commercial use or settlement but is also backed by the nation’s latest tokenization laws and mining code. This means the tokenized land will primarily be used for mining activities, giving CAR a distinctive edge among meme tokens. Unlike other themed tokens that rely on internet culture and hype, $CAR is poised to offer real-world utility, which could drive its growth beyond the initial craze.

The announcement has sparked a bullish momentum for the $CAR token, which has been rallying amidst a broader market downturn. The token surged over 21% in the past 24 hours, extending its weekly gains to 116%. This surge in trading volume signals renewed investor and trader interest in the themed token. However, analysts predict that $CAR could see short-term retracements due to potential profit-taking and the prevailing broad market correction. Despite these challenges, the token trades at $0.05348 after brief corrections from the intraday high, and it remains 90% below its February 10 all-time high of $0.60.

The industry analysts predict that the asset tokenization sector will double to surpass $16 trillion in the next five years. This prediction underscores the massive potential of the Central African Republic meme token. With its newfound utility in the mining sector, $CAR may likely gain additional use cases, further solidifying its position in the booming tokenization sector. This move by the Central African Republic not only highlights the country's innovative approach to land management but also sets a precedent for other nations considering similar initiatives.