XCN Crypto Surges 100%: Why Onyxcoin’s Price Is Exploding?

Onyxcoin (XCN) Defies Market Downturn with Parabolic Rally: What’s Driving the Surge?

A Stunning Reversal in a Bearish Crypto Market

While Bitcoin slumped to a new 2025 low of $75,000 amid escalating global trade tensions and risk-off sentiment, one altcoin has defied the trend—Onyxcoin (XCN). Surging over 100% in 24 hours and 155% in the past week, XCN has emerged as the top gainer in the top 100 cryptocurrencies, reaching $0.02319 as of April 11, 2025.

This dramatic rally comes as a surprise, especially given the broader crypto market’s struggles. Bitcoin’s decline dragged down major crypto stocks like Coinbase (COIN) and MicroStrategy (MSTR), yet XCN’s resilience has captured traders’ attention. What’s behind this unexpected surge?

The Catalysts Behind XCN’s Meteoric Rise

1. Layer-3 Scaling Solution and Institutional Interest

Onyxcoin’s recent Layer-3 blockchain launch, built on Arbitrum (ARB), has been a major driver. The upgrade promises faster and cheaper transactions, positioning XCN as a scalable solution for decentralized finance (DeFi) and institutional adoption.

Adding fuel to the fire, Justin Sun, founder of TRON, publicly endorsed XCN staking, further boosting investor confidence. His involvement has historically driven speculative interest in altcoins, and this case appears no different.

2. Exchange Listings and Surging Trading Volume

XCN’s trading volume skyrocketed 373% in 24 hours, hitting $618 million, as it got listed on major exchanges like Kraken and Coinbase. The increased liquidity and accessibility have attracted both retail and institutional traders.

3. Macroeconomic Optimism from Trump’s Policies

Despite Bitcoin’s struggles, XCN benefited from positive sentiment around U.S. crypto policies. President Donald Trump’s executive order on a Sovereign Wealth Fund in early February initially sparked a market rebound, and XCN was among the biggest beneficiaries, rallying 30% in a single day.

Market Performance: A Closer Look at the Numbers

Data sourced from CoinMarketCap and Crypto.News.

XCN’s year-to-date gains exceed 2,218%, dwarfing even Bitcoin’s performance. Analysts attribute this to strong accumulation by whales, with the top 10 wallets holding over 70% of the supply.

Expert Opinions: Can the Rally Sustain?

Bullish Case: A Potential 3x Surge Ahead

Some analysts, like those at CoinSpeaker, argue that XCN could see another 200-300% surge if it breaks the $0.05 resistance level, citing strong technical momentum and growing DeFi integrations.

"XCN’s Layer-3 solution is a game-changer. If adoption continues, we could see it rival Ethereum’s scalability solutions," said Trevor Koverko, a crypto entrepreneur.

Bearish Risks: Overbought Signals and Market Volatility

However, the Relative Strength Index (RSI) sits at 51, indicating a neutral stance with potential overbought risks if buying pressure slows. Additionally, high concentration among a few holders raises concerns about price manipulation.

What’s Next for Onyxcoin?

Short-Term Outlook

• If Bitcoin recovers, XCN could see further upside as altcoins typically rally in bullish markets.

• A drop below $0.0116 (24h low) may trigger a correction, given the rapid ascent.

Long-Term Potential

• Institutional adoption of Onyx Protocol’s Layer-3 tech could drive demand.

• Regulatory clarity from the U.S. may either boost or hinder growth, depending on policy shifts.

Final Thoughts: A High-Risk, High-Reward Play

Onyxcoin’s parabolic rally is a rare bright spot in a struggling crypto market. While its technology and exchange listings provide fundamental support, the high volatility and whale dominance make it a speculative bet.

Will XCN continue its rally, or is a steep correction looming? Share your thoughts on our X.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.