XCN Crypto refers to Onyxcoin, the utility and governance token of the Onyx Protocol. This decentralized asset is designed for real-world financial-grade applications such as lending, staking, and modular blockchain infrastructure.
XCN trades around $0.0151 with a market cap near $500 million and daily volume between $25 to $30 million. Onyxcoin ranks among the top 150 cryptocurrencies by market cap and has shown strong annual growth of approximately 820%.
What Is XCN Crypto & Onyx Protocol?
Onyx Protocol Overview
Onyx Protocol is a modular blockchain platform developed for financial-grade applications. It offers near-instant confirmations, low transaction fees, and cross-border compatibility. It leverages Ethereum and Base’s security while enabling independent, interoperable networks.
XCN Token Purpose
XCN acts as a utility token for Ethereum gas fees and Onyx platform services. It is also a governance token within the Onyx DAO, allowing holders to vote on protocol improvements. In addition, XCN functions as a staking token to secure network operations and earn rewards.
XCN Crypto Price & Market Performance
Live Price & Market Data
Price: ~$0.0151 USD
Market Cap: ~$502 million
Circulating Supply: ~34 billion XCN
Fully Diluted Valuation: ~$725 million
Historical Trends & Volatility
XCN reached its all-time high of $0.18 in May 2022 and hit an all-time low of around $0.0007 in October 2023. Over the past year, the token has seen a significant gain of around 820%.
Short-term Volatility
Recently, XCN saw a 6–7% price dip over a 24-hour period but managed weekly gains of 11%. Its current trading range is between $0.016 to $0.022, indicating high short-term volatility.
XCN Crypto Use Cases
Governance & DAO Voting
XCN holders play a crucial role in shaping the future of the Onyx Protocol. They can vote on protocol upgrades, tokenomics changes, and new feature implementations via the Onyx DAO.
Staking & Network Security
By staking XCN tokens, users help secure the Onyx network while earning passive rewards. This makes XCN attractive not only for traders but also for long-term holders interested in DeFi.
Utility Within Ecosystem
XCN is used to pay for gas fees, access premium services, and receive discounts within the Onyx platform. It enhances user experience across services like Onyx Cloud and other dApps.
Financial Infrastructure
XCN supports decentralized finance applications such as peer-to-peer lending, borrowing, and asset issuance. The token supports standards like ERC-20, ERC-721, and ERC-1155, which increases its flexibility within the blockchain ecosystem.
XCN Crypto Roadmap & Updates
OIP-56 Upgrade
The upcoming OIP-56 proposal will enable gas-free on-chain voting. This upgrade is expected to boost user participation in governance and potentially increase token utility and value.
Ecosystem Expansion
Onyx is expanding its offerings to include AI-powered automation agents, a cross-chain Superbridge, and a native wallet solution. These developments aim to improve usability, scalability, and user retention.
Risks & Market Challenges
NVT Ratio Concerns
A high Network Value-to-Transaction (NVT) ratio indicates that XCN might be overvalued compared to its on-chain activity. Without a rise in real usage, the token could face downward pressure.
Technical & Market Volatility
XCN continues to experience high volatility with frequent price swings. Technical indicators such as RSI and Bollinger Bands point to an unstable trend line, making short-term predictions risky.
Competition Risk
XCN competes with established DeFi tokens like Aave, Compound, and Maker. Onyx Protocol must demonstrate clear advantages in speed, cost, and functionality to gain long-term market share.
How to Buy & Store XCN Crypto
Buying XCN
XCN is available on major cryptocurrency exchanges like Coinbase, Kraken, KuCoin, Gate.io, HTX, Bithumb, and Binance. It offers sufficient liquidity for both retail and institutional traders.
Wallet Options
XCN can be stored in popular Ethereum-compatible wallets such as MetaMask and Trust Wallet. For enhanced security, hardware wallets like Ledger Nano S or X are recommended. Onyx is also developing a dedicated non-custodial wallet designed for ease of use and zero-gas transactions.
Key Metrics & Insight Summary
Metric — Value
Price — ~$0.0151 USD
Market Cap — ~$500 million
Circulating Supply — ~34 billion XCN
Fully Diluted Valuation — ~$725 million
24h Volatility — ~6–7% decline, weekly ~10–11% gain
All-time High/Low — $0.18 / ~$0.0007
NVT Ratio — Elevated, possible overvaluation
Major Update — OIP-56 for gas-free voting
XCN Crypto Outlook: What’s Next?
Bullish Scenarios
If the OIP-56 update drives community involvement and governance activity, it could raise demand for XCN and push prices above the resistance zone of $0.021. The expansion of the Onyx ecosystem with new utilities and AI-powered features could further strengthen user adoption and token utility.
Bearish Scenarios
On the downside, if user activity on the Onyx Protocol remains stagnant, the elevated NVT ratio may lead to price corrections. In a bearish market, XCN could fall below its support level of $0.016, especially if new updates fail to capture user attention.
Conclusion
XCN Crypto, also known as Onyxcoin, stands at the intersection of blockchain infrastructure, decentralized finance, and governance. Its utility in gas payments, staking, and DAO voting makes it a versatile asset in the DeFi landscape. The upcoming OIP-56 update and ongoing ecosystem developments are promising, but like any crypto project, it carries volatility and risk.
As with all crypto investments, it’s vital to keep an eye on on-chain metrics, governance participation, and market sentiment. XCN Crypto is worth watching, especially for those interested in financial applications built on Ethereum-compatible blockchains.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before investing in any cryptocurrency.