Onyxcoin (XCN) has skyrocketed by more than 300% in the past week alone and is predicted to move 10x, hitting a new peak this cycle.
Onyxcoin XCN $0.00886 24h volatility: 1.6% Market cap: $294.29 M Vol. 24h: $28.31 M , a prominent cryptocurrency in the digital asset space, has shot up a massive 311.22% in the last seven days. The capital flowing into the altcoin has skyrocketed as the cryptocurrency claimed a yearly high of $0.018 last week on Friday. Outperforming the other cryptocurrencies, XCN entered the top 200 and is now gaining rapidly against its competitors.
While the altcoin is trading at a discount of 93.6% to its all-time high of $0.18 witnessed over three years ago in 2022, analysts expect the XCN token to continue the bullish momentum throughout 2025. According to a post on X (formerly Twitter) by an analyst on the social media platform, XCN probably will be trading between $0.10 and $0.18 in the coming days, almost a 10x gain for investors. The analyst sees another bull flag forming at the lower (.382) Fibonacci, as per a chart shared by them, which led to his bullish prediction for the altcoin.
My price prediction in the coming Weeks / Months for $XCN is probably around .10-.18. I can tell by the forming wedge that’s building up. Notice how the break out is expected. This is extremely Bullish. What’s your take? #XCNCommunity #XCN #onyxprotocol #Onyxcoin #OnyxXCN pic.twitter.com/5zL1yI5rZZ
— Crypto Hound Pound 👊 (@CryptoHound2203) January 21, 2025
XCN Price Analysis
XCN price analysis based on the daily chart provided by TradingView below shows that the accumulation of the cryptocurrency has soared in the past few days. However, the gradient of the line suggests a slight pullback before the altcoin continues with its rally.
Source: TradingView
Further, the Relative Strength Index (RSI) for the XCN price action reads a value of 77.85, which means that the digital asset is currently overbought. Such levels are often followed by a slight correction in order to stabilize the prices.
According to CoinMarketCap data, XCN currently trades at $0.0116 with a market cap of $359.21 million and a trading volume of $84.09 million. The majority of volume ($27 million) comes from American exchange Coinbase.
What Is Onyxcoin (XCN)?
Onyxcoin (XCN) serves as the native token to the Onyx ecosystem, allowing holders to participate in transactions, staking, and governance activities. The blockchain protocol is focused on providing financial services to its users. The most prominent offering from the ecosystem is the Onyx Core, which allows users to deploy and operate blockchain networks using the protocol.
According to a post on X, the Onyx Protocol dApp recently underwent an upgrade that now allows the digital asset protocol to support increased traffic and scale with demand. These improvements to the protocol’s performance and user experience signal potential growth in XCN token adoption.
The Onyx Protocol dApp maintenance is now complete and will be able to support our increased traffic and scale with demand. Staking and Farming users will now be able to utilise the dApp even through times of congestion. Thank you for your patience $XCN pic.twitter.com/cgSnQnxknr
— Onyx (@OnyxDAO) January 21, 2025