A cryptocurrency that started three years ago suddenly storms into the top 100 of the largest Cryptocurrencies: We are talking about Onyxcoin (XCN).
According to positive news, the coin experienced a massive increase in price – but the big question remains whether this growth is sustainable.
Onyxcoin futures start on Binance
On Friday the KryptoBörse Binance surprised with one announcement: Customers can soon act in Onyxcoin futures. Due to the enormous range of Binance, this could have a significant impact on the adoption of the tokens.
When trading futures, two parties agree to buy or sell a asset at a fixed price and time in the future. If the actual market price is then above the agreed price, the buyer benefits.
The crypto community reacted enthusiastically. Onyxcoin was already in an upward trend before the Binance announcement. After the release, the price rose from $ 0.01 to $ 0.02 – a strong jump, because on Wednesday the price was only $ 0.008.
The trading volume also skyrocketed: from around $ 20 million per hour on Wednesday to over $ 600 million – a large part of this volume comes from the crypto exchange Coin base.
Krypto coin makes jump into the top 100
Due to the rapid climb, Onyxcoin now secured itself 83th place Among the 100 largest cryptocurrencies. Directly below is Nexo (Nexo), directly above Jasmycoin (Jasmy), which is one of the most traded coins on Bitvavo.
Although the coin has existed for years and is used as a native token of the associated blockchain onyxchain, attention to the project was never greater. The development remained sluggish in 2023 and 2024, but in January 2025 the price rose from $ 0.03 within 11 days.
Tron founder Justin Sun also commented on OnyXcoin. He highlighted the unusually high trade volume and pointed out the use of leverage positions and complex contracts. On X he expressly warned crypto exchanges of the risks associated with the project.