Onyxcoin (XCN) Price Surges Over 800% in Two Weeks
Onyxcoin (XCN) has seen significant price gains, increasing over 800% in two weeks to approximately $0.0293 amidst a generally bearish cryptocurrency market. Key points include:
- The fully diluted valuation of XCN is around $1.1 billion.
- The trading volume surged about 270% in 24 hours, reaching around $1.4 billion.
- XCN Futures Open Interest rose over 24% to about $20.7 million, particularly on the Bybit exchange.
- The resolution of a long-standing issue with HTX Global and Justin Sun led to increased demand for XCN.
- HTX will support XCN staking and governance under the OIP-51 proposal.
Future outlook indicates strong bullish sentiment, with XCN breaking out of a macro cup and handle pattern. The weekly Relative Strength Index has surpassed 70%, signaling potential upward momentum. However, short-term corrections may occur, with a possible drop of 30% to a support level around $0.0166 due to bearish patterns forming in the market.