XCN crypto surged by as high as 149% in the past 24 hours of trading, soaring nearly 400% in the past week. What is XCN and is it headed towards higher gains?

According to data from CoinGecko, Onyxcoin’s token has been on an upward climb since mid-January. At the time of writing, XCN crypto has risen by 149%. It is currently trading hands at $0.029, but traders on X believe it can go as high as $0.08 or even $0.10. One analyst on X predicted the token could yield up to 10x gains for traders.

XCN’s last all-time high stands at $0.1841. The last time XCN’s value surpassed $0.05 was two years ago in June 2022.

So far, the token has been making good progress throughout January, riding high off the current crypto bull run. In the past week, the token has gone up by nearly 400%, even more so in the past month. XCN crypto has surged by 1,195% in the past 30 days and nearly twice that much in a year.

In the past 24 hours of trading XCN’s market cap has increased by 1,328% to around $1.3 billion, signaling a significant rise in trading activity. Most of the trading activity for XCN occurs on Coinbase, with the crypto exchange contributing 37.42% of the total trading volume.

XCN has a circulating supply of more than 48 billion tokens and is available on Ethereum (ETH).

What is XCN crypto?

XCN or Onyxcoin is the decentralised governance and utility token of the Onyx ecosystem. Holders of the Onyxcoin can participate in transactions, staking, and governance activities as well as pay for services on Onyx and Chain.com. Users who stake XCN can gain a discount of up to 75% for Chain.com services.

Chain is also in the process of finalizing a new artificial intelligence tool for smart contract developers called Chain.ai. The new tool will be accessible to XCN holders and OnyxDAO members.

In a recent post on X, the Onyx Protocol dApp declared it just finished upgrading its protocol, adding features that will support increased traffic and scale with demand.