Onyxcoin (XCN) is the native utility and governance token of Onyx Protocol, a decentralized blockchain platform for building sophisticated financial services. Through empowering entities to create and handle digital assets cost-effectively, Onyxcoin positions itself as a key stakeholder in the emerging Web3 landscape.
This article provides a detailed analysis of Onyxcoin's intrinsic elements, market performance, and future directions.
Tokenomics
Tokenomics is the economics behind a cryptocurrency, including elements of supply, distribution, and usage. All of these features for Onyxcoin are designed with care to help foster its place within the Onyx Protocol.
Supply Metrics:
| Metric | Value |
|---|---|
| Total Supply | 48,402,437,326 XCN |
| Max Supply | 48,402,437,326 XCN |
| Circulating Supply | 32,592,684,478 XCN |
The ratio between the total supply and maximum supply indicates that the XCN tokens are fully minted, and approximately 67.34% of them are already in circulation. The division indicates a process of controlled release to maintain stability in the market.
Utility:
Onyxcoin has several roles to play in the Onyx ecosystem:
Governance: The holders of XCN have voting rights, allowing them to engage in decision-making regarding protocol updates and resource allocation.Bitrue
Transaction Fees: XCN is used to settle transaction fees in the network, allowing for smooth operations.
Staking: XCN can be staked by users to receive rewards, promoting long-term holding and network security.
This multi-use utility increases the token's inherent value and promotes active community participation.
Valuation
Valuation metrics provide insights into a cryptocurrency's market standing and perceived value. As of March 30, 2025, Onyxcoin's valuation is as follows:
Valuation Metrics:
| Metric | Value |
|---|---|
| Market Capitalization | $388,360,915 |
| Fully Diluted Valuation (FDV) | $576,740,000 |
The market capitalization shows the combined worth of all tokens in circulation, placing Onyxcoin among the top 150 cryptocurrencies in the world. The FDV, or value if all tokens were in circulation, shows potential for expansion as more tokens are brought into circulation.
Price History
Onyxcoin's price trajectory has experienced notable fluctuations since its inception, reflecting broader market trends and project-specific developments.
Price Milestones:
| Date | Event | Price | Change from Event |
|---|---|---|---|
| May 27, 2022 | All-Time High (ATH) | $0.1841 | -93.53% |
| Oct 11, 2023 | All-Time Low (ATL) | $0.0007038 | +1,592.95% |
As of March 30, 2025, XCN stands at around $0.01191. The sharp drop from its ATH serves to highlight the volatility of the cryptocurrency market, while the drastic recovery from its ATL shows there is resilience and potential for growth in the future.
Recent Developments
Onyxcoin has implemented several strategic initiatives to enhance its platform and utility:
Layer 3 Integration: Onyxcoin has also implemented Layer 3 technology on Arbitrum Orbit and Base Layer 2, making the platform more scalable and lowering transaction fees. This development positions Onyxcoin to conduct higher volumes of transactions in a more efficient way.
Implementation of Superbridge: The implementation of the Superbridge enables painless multi-chain transfers across Ethereum, Base, and Onyx Layer 3. This interoperability makes the user experience better and enables greater use of Onyxcoin across various blockchain networks.
Onyx DAO Governance: The creation of the Onyx Decentralized Autonomous Organization (DAO) provides XCN token holders with a way to contribute to governance directly, encouraging community-led and decentralized development practices.
These initiatives speak to Onyxcoin's desire to keep growing and evolving along with the dynamic nature of the blockchain space.
Market Performance Analysis
Analyzing Onyxcoin's market performance involves examining various factors:
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Price Volatility: The substantial price swings highlight the speculative nature of the cryptocurrency market. Investors should be prepared for high volatility and consider long-term horizons.
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Adoption and Partnerships: Onyxcoin's collaborations with financial institutions and integration into various platforms can drive demand and positively influence price dynamics.
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Regulatory Environment: Compliance with evolving regulations is crucial for sustained growth. Onyxcoin's proactive approach to governance and compliance positions it favorably in this regard.
Understanding these factors enables investors to make informed decisions aligned with their risk tolerance and investment objectives.
Final Opinion
Onyxcoin presents a multifaceted proposition within the blockchain and decentralized finance sectors. Its comprehensive tokenomics, substantial market capitalization, and active trading volume underscore its prominence in the cryptocurrency ecosystem.
