The digital assets industry has witnessed various developments early into 2025, from the US welcoming the first-ever pro-crypto government to the latest DeepSeek developments that crashed AI cryptocurrencies.
Meanwhile, Onyxcoin (XCN) grabbed the crypto community’s attention with its explosive surges in January 2025.
XCN gained over 1,550% over the past month, and its massive bullish outlook suggests more gains ahead.
Chart by Coinmarketcap
The remarkable rise has pushed Onyxcoin’s market capitalization well past $1.2 billion as prices touched levels not witnessed since mid-2022.
Details show that Coinbase accounts for around 37% of XCN’s total volume.
Meanwhile, Onyxcoin’s impressive surge coincides with a bumpy performance from the top cryptos by market cap.
Bitcoin and Cardano gained around 13% on its monthly chart, whereas Ethereum and BNB lost up to 5% in that timeframe.
The difference in performance has triggered speculations about factors driving XCN’s momentum.
What’s fueling Onyxcoin’s gains?
Onyxcoin is a blockchain infrastructure that allows web3 developers to build lucrative financial services.
The platform encourages decentralized finance (DeFi) by offering tools for creating smart contracts and dApps.
Its main product, Onyx Core, allows institutions and developers to launch and manage blockchain networks or connect to other networks, transforming asset movements globally.
Meanwhile, several crucial developments have catalyzed XCN’s remarkable performance over the past month. Let’s find out.
An upcoming upgraded blockchain launch
The Onyx team announced plans to launch a new blockchain – Onyx XCN Ledger. They have developed the upgrade in stealth mode.
Onyx developers scheduled the upgrade’s release in early February, and the latest X post shows no plan change.
Set your alarms ⏰ 4 days ⌛️ $XCN
2:57 am · 30 Jan 2025
Meanwhile, the significant update will include a detailed whitepaper and address past security challenges, including weaknesses that saw the platform lose $3.8M to hackers in late 2024.
Conflict resolution with Tron founder Justin Sun
Recent developments show the prolonged dispute between Tron’s founder, Justin Sun, and Onyx DAO has been resolved.
The conflict has weighed on XCN’s performance, and its resolution has removed a massive hurdle to adoption.
Disputes between Justin Sun-associated firms and Onyx DAO arose in 2022.
The drama continued on January 24 after Tron’s founder accused Onyx of “significant market manipulation.”
The team was quick to respond, stating,
None of our partners are engaged in any trading of XCN nor contract trading of XCN. $XCN is finally getting its GME moment, and others who have sold XCN (such as Justin Sun) are making false statements.
Meanwhile, Onyx confirmed a resolution of this battle in an X post.
.@OnyxDAO is thrilled to announce the resolution of an unrelated XCN issue with @HTX_Global and @justinsuntron for a matter from 2022. OIP-51 will be deployed to grant HTX market support for $XCN It was confirmed that the recent statements made did not relate to any recent…
12:16 am · 25 Jan 2025
That opens the doors for more partnerships while freeing XCN from significant obstacles to its expansion and adoption in the crypto world.
XCN price action: what next?
Onyxcoin changes hands at $0.03898 after gaining 230% and 1,500% in the past week and month.
XCN exhibits a massive bullish trajectory due to the ongoing broad market recoveries.
Analyst Javon Marks believes the alt has the potential to hit $0.1816.
There is potential, with the breakout pictured, that $XCN (Onyxcoin) could be in pursuit of the $0.1816 level! This means another +420% upside can be possible
9:51 pm · 29 Jan 2025
That would mean an over 360% surge from Onyxcoin’s current price.
The post Onyxcoin price prediction: what’s next for XCN after 1,500% monthly surge? appeared first on Invezz
Read the full article here
