One quick glance at the X Platform and one would be forgiven in thinking that Onyxcoin is getting ready for a good run. But that isn’t the full story. TradingView, a more objective place for traders to get market sentiment, shows a different story. Analysts on the leading investment platform are suggesting selling Onyxcoin. Today we look at whether $XCN Onyxcoin is still a good investment in 2025.
Following a spike in activity at the end of January, Onyxcoin hit highs of almost $0.05. This trend quickly reversed as the token’s price collapsed back down to the $0.013 it is trading at today.
Yesterday it appeared that Onyxcoin’s price ‘bottomed’ out. The price had been on an almost continuous slump for weeks during a wider cryptocurrency meltdown.
The launch of the Onyx Mainnet
On the 3rd of March the launch of OnyxCoin’s Goliath Mainnet was announced. Described as a significant milestone, it has influenced the price of $XCN. It was also hoped the launch of the Mainnet would boost investor confidence and demand as it introduces new features and improvements. There may be some gremlins to address over the next few weeks and months, but market participants should be aware that with teething problems comes volatility.
The highly anticipated launch has been coupled with rumours of whales divesting their holdings in Onyxcoin. This activity was reported by the team at BeInCrypto yesterday. The story highlights how whales have liquidated roughly 50% of their holdings and how this has led to a bearish sentiment towards the $XCN token. If things don’t improve, they warn, $XCN could tumble further to lows of $0.008.
There is still plenty of good news about the Onyxcoin project, not just the Mainnet, but the growth of the ecosystem itself. There is talk on X of introducing liquid staking, the upcoming wallet and something called the $XCN ledger points system.
Onyxcoin might be small, but there is still plenty of life in the project and the community is still very engaged. Perhaps the whale activity is only a temporary blip. Perhaps the new mainnet will prove a success and drive investors back into the token. We will be watching developments closely. So should you.
Author: Andy Samu
The editorial team at #DisruptionBanking has taken all precautions to ensure that no persons or organisations have been adversely affected or offered any sort of financial advice in this article. This article is most definitely not financial advice.
