Onyxcoin (XCN) Breaks Out Strong: 43% Surge Brings Project Back to Top 100 Market Cap
In a day of explosive growth for the crypto market, Onyxcoin (XCN) recorded a 43% increase, bringing the project back to the Top 100 cryptocurrencies by market cap. The strong rally marks an impressive comeback for one of the decentralized Web3 protocols that is gradually rebuilding its momentum.
XCN Crosses $0.020 – Trading Volume Triples
At the time of writing, XCN is trading around $0.0201, its highest level since May, with a market cap of $685 million. Notably, 24-hour trading volume has increased by more than 213%, reaching $81 million, according to data from crypto.news.
XCN’s intraday range is between $0.0170 and $0.0201, showing a strong bounce as the entire crypto market rallies on the back of the Bitcoin (BTC) and Ethereum (ETH) uptrend.
Momentum: Network Updates and Positive Sentiment
Onyxcoin’s recent surge is no coincidence. On July 12, the development team announced the adoption of the OIP-60 proposal, a major milestone that will boost utility and rewards for users.
Specifically, OIP-60 enables:
Onyx Points rewards for XCN stakers on the Ethereum network.
A zero-gas wallet for users, making transactions easier and more economical.
The rollout of this feature is expected to be completed within 48 hours, promising to bring a new user flow to the Onyx ecosystem.
Breaking Out of Bearish Pattern Support from Whales and Derivatives
Technical analysis shows that XCN has broken out of a 6-month-long falling wedge pattern, indicating that a new bull run is starting.
Open Interest has increased by 16% to $21 million.
Derivatives trading volume has also increased sharply, with the Coinglass index recording a 155% increase, indicating that speculative and bullish betting activities are resurgent.
Notably, a number of whale wallets have been actively accumulating XCN throughout June and early July, significantly supporting this breakout.
Fundamental Factors: DEX and Large Wallet Integration
Part of XCN's growth momentum comes from infrastructure changes and expanding user access. Recently:
XCN has been listed on PancakeSwap, one of the most popular DEX exchanges today.
The project has also successfully integrated with Coinbase Wallet, Coinbase’s Base network, and BNB Chain, expanding its reach to millions of users.
The combination of technical innovation, expanding utility, and a new wave of investment is helping Onyxcoin reposition itself in the crypto market, which had seen the token plummet during the previous bear cycle.
Conclusion: Onyxcoin is back in the game
With a daily gain of over 43%, explosive trading volume, and clear ecosystem developments, Onyxcoin (XCN) is showing strong potential for a comeback. If the market sentiment remains bullish and the new features work smoothly, XCN could well be on its way to even higher milestones in the coming quarter.
