Understanding Onyxcoin (XCN) and How To Buy & Sell XCN Tokens

The cryptocurrency market has expanded rapidly, offering a variety of digital assets that serve different purposes. One such token gaining attention is XCN Crypto, the native token of the Onyx Protocol. Also referred to as Onyx Coin or Onyxcoin Crypto, XCN plays a crucial role in the Onyx ecosystem.

 The crypto world never stops evolving, and among its latest stars is Onyxcoin (XCN), a digital asset that’s been turning heads in the DeFi space. If you’ve been hearing buzz about XCN lately, you’re not alone – the token has seen impressive growth, surging from $0.002 to nearly $0.05 in recent months, catching the attention of investors and crypto enthusiasts alike.

In this article we will take you through what Onyxcoin protocol is and how to invest in its native cryptocurrency XCN

What is Onyxcoin Coin (XCN)?

XCN, also known as Onyx Coin, is the utility and governance token of the Onyx Protocol, a blockchain-based platform designed for decentralized finance (DeFi) applications. It enables smart contracts, staking, governance participation, and fee payments within the ecosystem.

 The XCN Token was initially launched as part of the Chain Protocol, which later evolved into the Onyx Protocol. The rebranding to Onyxcoin Crypto aimed to enhance its identity and position it as a key player in DeFi and blockchain-based financial solutions.

At its core, Onyxcoin is both a utility and governance token powering the Onyx Protocol, a decentralized finance ecosystem built on the Ethereum blockchain. Think of it as the fuel that keeps a sophisticated financial machine running smoothly. 

The Onyx Protocol is a fully decentralized liquidity market that’s pushing the boundaries of what’s possible in DeFi. It’s not just another cryptocurrency – it’s a complete ecosystem designed to reshape how we think about digital finance.

How Does the Onyx Protocol Work?

The Onyx Protocol is a decentralized blockchain platform designed to support scalable and secure financial applications. It offers several features:

1. Decentralized Governance – XCN holders can participate in decision-making processes for protocol upgrades.
2. Staking and Rewards – Users can stake XCN Coin to earn rewards.
3. Transaction Fee Payments – XCN is used to pay fees for transactions and smart contract executions.
4. Cross-Chain Compatibility – The protocol supports interoperability between different blockchain networks.

The Onyx Coin (XCN Token) is essential for maintaining the security and efficiency of the Onyx ecosystem.

The Technology Behind Onyxcoin Protocol

Onyx Protocol operates as a cloud blockchain infrastructure, allowing companies to create and deploy improved financial service solutions. What makes it special? A few key features stand out:

Advanced Security Architecture

The protocol leverages Ethereum’s robust security features while adding its own layers of protection, making it one of the more secure platforms in the DeFi space.

Scalable Infrastructure

The system’s design includes the UTXO model and compact proofs, enabling efficient transaction processing and better scalability compared to many competitors.

Multi-Asset Support

The platform supports a wide range of cryptocurrencies and NFTs, making it a versatile choice for users looking to manage different types of digital assets.

$XCN Coin Price and Market Performance

The XCN Coin Price has experienced fluctuations since its launch. Initially, Onyxcoin Crypto gained traction as a promising DeFi token. However, like most cryptocurrencies, its price has been influenced by market trends, adoption rates, and overall investor sentiment.

As of February 2025, Onyxcoin has been making waves in the crypto market. The current price is hovering around $0.031, with significant trading volume indicating strong market interest. The project currently ranks #80 on CoinMarketCap, with a market cap of approximately $959 million USD. 

What’s particularly interesting is the token’s recent performance. XCN has demonstrated impressive volatility and media attention, with some analysts suggesting this could be just the beginning of its growth trajectory.

Use Cases and Utility of $XCN Token

XCN isn’t just a speculative asset. Its utility extends across several key areas:

1. Governance: Token holders can participate in the Onyx DAO, voting on protocol improvements and key decisions that shape the platform’s future.
2. Transaction Fees: Users can pay for network operations using XCN, making it an essential part of the ecosystem’s functionality.
3. Staking and Rewards: The platform offers staking opportunities and premium features access for token holders.

What Are The Tokenomics of $XCN Token?

• XCN (Onyxcoin) is the foundational token of the Onyx ecosystem, serving both governance and utility functions. With a permanently fixed total supply of 48,470,523,779 tokens, XCN is a scarce digital asset that cannot be inflated.
• Token holders can actively participate in governance by staking their XCN, with each staked token equating to one vote. Staking not only grants governance rights but also rewards users with additional XCN tokens for contributing to network security.
• Beyond governance, XCN offers practical benefits such as discounts and access to exclusive features within the Onyx ecosystem. Its dual role as a governance and utility token makes XCN essential to the protocol’s functionality and long-term growth.

Future Outlook and Price Predictions for $XCN Crypto Token

Source: TradingView

• Some analysts (as noted in recent price prediction articles) have observed a descending triangle pattern on shorter timeframes. This pattern generally indicates consolidation before a potential breakout. A decisive move above the upper trendline (around 0.034 USD) could trigger a bullish continuation, while a failure to break may lead to a pullback toward support near 0.022–0.025 USD.
• Despite recent consolidation, trading volume remains robust on several platforms, supporting the idea that a breakout could be imminent if buyers step in. However, as with many cryptocurrencies, a sudden reversal is always possible if the momentum shifts.
• Support & Resistance Levels: The immediate support appears around 0.022–0.025 USD. Lower pivot points (as per various pivot systems) indicate that a move below 0.022 USD could signal further downside risk. The short-term moving averages and MACD signals lean toward buying. An RSI around 60 coupled with strong trend indicators (like ADX) suggests that while momentum isn’t extreme, it is gradually building.
• Analysts predict moderate growth for XCN Coin Price if adoption increases. The price could range between $0.005 to $0.02, depending on market conditions. If the Onyx Protocol gains significant adoption, Onyxcoin Price could see a substantial rise.

IS XCN Token a Good Investment?

Before investing in XCN token, you must consider the following factors:

• Market Position: Currently valued at 82.51% below its all-time high of $0.18, XCN has room for growth but also demonstrates the volatility inherent in cryptocurrency markets.
• Technology FoundationThe solid technological infrastructure and clear use cases provide a strong foundation for long-term value.
• Market Adoption: Growing trading volumes and exchange listings suggest increasing market adoption and liquidity.

How To Buy/Sell $XCN Token?

To buy $XCN, you need to create an account on Bitunix. If you are already a registered user, you can skip this step.

To buy $XCN you need to deposit USDT in your Bitunix account. Simply head to your profile and click on the wallet icon. Click on deposit and follow the steps to deposit crypto into your account.

Watch our step by step tutorial on How to Deposit Crypto on Bitunix.

If you don’t own crypto, you can buy crypto from our third party on-ramp crypto providers. Simply head to the Buy Crypto tab in the main menu and choose the crypto you wish to buy.

To trade in XCN/USDT, navigate to the main menu and choose the Markets tab. Next, choose ‘spot’ or ‘futures’ and search for $XCN. Now, you can start trading in Pengu memecoin.

Additional Reading: Full P2P Trading Guide – How To Buy/ Sell USDT

Wrapping Up

Onyxcoin represents an interesting intersection of DeFi functionality and blockchain innovation. While it’s still relatively young in crypto space, its robust technology, clear utility, and growing market presence make it a project worth watching.

Whether you’re a potential investor or just curious about the future of DeFi, XCN offers a fascinating glimpse into how blockchain technology continues to evolve and reshape the financial landscape. 

As with any cryptocurrency investment, thorough research and careful consideration of your risk tolerance are essential before making any financial decisions.

Remember that the crypto market is highly volatile, and while XCN shows promise, its future value will depend on various factors, including market conditions, technological developments, and broader adoption of the Onyx Protocol ecosystem.

How to Buy Crypto on Bitunix?

If you don’t have any crypto, you can buy crypto via third party providers on Bitunix. To buy crypto, follow the below steps

• Head to the Buy Crypto tab in the main menu and choose the cryptocurrency you wish to buy. In this case, you need to buy USDT to be able to trade in XCN/USDT. 

• Next, choose the currency you wish to pay in (fiat currency like USD) Add the amount you wish to invest. (Please note: buying crypto via third parties incur fees levied by the provider) 

• Finally, choose the mode of payment. The on-ramp crypto providers accept Apple Pay, bank transfer and credit/debit cards.
• Once you have chosen your mode of payment, follow the next steps and complete the transaction. The funds will be deposited into your Bitunix account.

Additional Reading: What is the difference between spot and crypto derivatives?