The post XCN token soars 35% in 24 hours to lead top gainers appeared on BitcoinEthereumNews.com.
XCN crypto rallied nearly 36% over the past day amid exchange listings and hype around upcoming product launches. Onyxcoin’s token (XCN) soared to an intraday high of $0.0394, pushing its market cap to over $1.16 billion as of the last check on Thursday afternoon, Asian time. Today’s rally extended the altcoin’s weekly gains to over 195%, while its monthly gains surged past 1,400%, making it one of the best-performing crypto assets over the past 30 days. XCN’s rally was accompanied by a surge in demand and trading activity. Over the past 24 hours, the altcoin’s daily trading volume jumped 60% to over $627 million, while open interest in its futures market soared 73% to an all-time high of $38.98 million per CoinGlass. Why is XCN going up? XCN surged after Onyx teased its upcoming white paper and the launch of its new blockchain, the Onyx XCN Ledger. Crypto assets typically tend to rally ahead of major announcements that support the ecosystem’s growth. Further, the token was recently listed on Kraken Pro, enabling users to trade XCN with up to 20x leverage. Additionally, Onyx’s official account shared that it had been nominated for listing on Binance Next pool, which allows users to predict which tokens will be listed next on Binance’s Futures market. Crypto exchange AscendEX has also announced plans to list XCN, which has further strengthened bullish momentum. Investor demand for XCN also rose after the XCN community passed OIP-52 after settling long-standing issues with HTX Global and Tron founder Justin Sun. The proposal which is yet to be deployed, will see Sun and HTX play an active role in Onyx DAO governance. “This OIP will enhance Onyx Protocol through the expertise, experience, and credibility that Justin Sun and HTX bring through their participation in the DAO,” a part of…