XCN Coin: Reasons for its Meteoric Increase

XCN Coin: Reasons for its Meteoric Increase

XCN Coin Surges 800% in Two Weeks

XCN Coin witnessed a remarkable 800% increase in just two weeks, achieving an all-time high in two years. Several factors have contributed to this meteoric rise, including:

  • Resolution of old conflicts.
  • Growing adoption of DeFi protocols by institutional and retail investors.

Resolution of HTX Global and Justin Sun Issues

Key Driving Factor Behind XCN’s Price Surge

The recent resolution of a long-standing disagreement between Onyx DAO, HTX Global, and Justin Sun is one of the main reasons for XCN’s price pump.

  • The Row: This feud began in 2022 with a dispute over the provision of XCN market support on HTX. The dispute escalated with the activation of the OIP-51 proposal to address the issue.
  • Resolution Announced: Onyx DAO confirmed that the matter has been amicably resolved, with HTX Global and Justin Sun now actively supporting XCN through staking and governance.

This resolution has boosted investor confidence, leading to renewed interest in Onyx Protocol and its governance token, XCN.


XCN’s Role in DeFi and Growing Adoption

Onyx Protocol: A DeFi Powerhouse

Led by XCN, Onyx Protocol has become a popular destination for decentralized finance (DeFi) activities such as staking and farming.

  • Institutional Adoption: The rising demand from institutional investors highlights the platform’s robustness.
  • Retail Traders: Retail traders are now increasingly engaging with the platform, signaling growing demand.

Additionally, listings on major exchanges such as Coinbase have enhanced XCN’s reach and liquidity, contributing to its broader adoption.


Market Summary and Numbers

Impressive Market Performance

  • Increased Trade Volume: Average 24-hour trading volume has surged by 270%, reaching approximately $1.4 billion on January 24, 2025, during mid-New York trading hours.
  • Fully Diluted Valuation: Valuation has soared to nearly $1.1 billion, placing XCN firmly within mid-cap rankings.

These statistics underscore the coin’s strong market performance and the positive sentiment it has generated among investors.


Broader Market Sentiment and Policy Support

Positive Sentiment Driving XCN’s Growth

Several broader factors are reinforcing positive sentiment around XCN:

  • Intensified Speculative Activity: The bull run has attracted speculative investors, further driving up the token’s price.
  • Corporate Adoption of Cryptocurrency: Policy developments, such as Web3 protocol support and digital asset adoption initiatives from the Trump administration, have created a favorable environment for tokens like XCN to thrive.

How Will XCN Perform Next?

Future Prospects for XCN

With the resolution of the HTX Global issue and increasing demand for the Onyx Protocol, XCN is poised for further growth.

  • Future Growth Potential: XCN stands to benefit from the continued adoption of DeFi protocols.
  • Bullish Outlook: Market sentiment remains upbeat, and with XCN regarded as a mid-cap altcoin contender, its future appears promising.

Conclusion

In light of these recent developments, XCN has solidified its position as a strong contender in the evolving crypto environment. The coin’s rapid growth, combined with institutional support and favorable market conditions, makes it an attractive option for traders and investors alike.

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