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Onyxcoin Soars by 150%: Binance Lists It Amidst Market Chaos!

BBG News

What You Need to Know:

  • The trading volume has ballooned from $25 million to a staggering $600 million.
  • In the last 24 hours, the token has shot up by 150%—surprise, surprise!
  • Binance, in all its glory, is listing XCN futures this Friday. How exciting!

Ah, Onyxcoin (XCN), that humble native token of a blockchain whose name we can hardly remember, has experienced an extraordinary rise. In a market that has otherwise been gripped by bearish sentiment, XCN has dared to rise—a 150% leap in the last 48 hours. Truly, the stuff of legends.

It wasn’t long ago that Onyxcoin’s daily trading volume sat at a mere $25 million. But then, something magical happened, as the token began to break through levels of resistance like a gold medal athlete. Now, with a daily volume swelling to $600 million, the majority of it taking place on Coinbase, we can’t help but wonder if there’s a twist to this tale yet to unfold.

This unexplainable surge in volume—and the almost laughable absence of any obvious catalyst—has led Binance to jump on the bandwagon, announcing that it would list XCN futures on Friday. Ah, the beauty of riding the wave after it’s already surged.

However, unlike the usual spectacle of Binance listings, where the price shoots up in a frenzy, this one has left the market slightly less… jubilant. It seems some investors have taken to “selling the news,” creating a balance of sorts between fresh buyers and those who are eager to cash out. What a delightfully predictable turn of events.

As Onyxcoin’s native token, XCN isn’t just a shiny object. It’s meant to serve within the Onyx ecosystem, facilitating payments and even node deployment. Oh, and don’t forget—you can participate in governance proposals too. It’s all so… vital.

Now, we’ve all been watching XCN for a while, and let’s just say, the last two years were anything but thrilling. In 2023 and 2024, it languished in obscurity. But then, in January of this year, a truly meteoric rise from $0.0025 to $0.03 took place within a mere 11 days, sending shockwaves through the crypto world. Of course, not everyone was convinced. Enter Justin Sun, founder of Tron, who had a few words to say about this sudden price surge.

“XCN chain is currently engaging in significant market manipulation. They are using high leverage and contracts that could cause serious harm to many exchange users. I recommend that major exchanges pay close attention to this risk,” he boldly tweeted on January 24—before deleting it, of course. Oh, how the mighty fall.

UPDATE April 11, 15:46 UTC: Adds context about XCN token and Justin Sun’s now-deleted tweet. The drama continues.

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2025-04-11 17:57

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