Onyxcoin PriceXCN

As of June 23, 2025, the cryptocurrency market is experiencing notable developments across various sectors, including market performance, regulatory changes, institutional investments, and technological advancements. This report provides a comprehensive overview of the current state of the crypto market.

Market Performance

Bitcoin (BTC) is currently trading at $101,554, reflecting a slight decrease of 0.66% from the previous close. The intraday high reached $102,782, with a low of $98,460. Ethereum (ETH) stands at $2,251.96, marking a modest increase of 0.18%. Other major cryptocurrencies such as Binance Coin (BNB), XRP, and Dogecoin (DOGE) have shown mixed performances, indicating a period of consolidation in the market.

Regulatory Developments

The U.S. Securities and Exchange Commission (SEC) has dismissed its lawsuit against Binance and its founder, Changpeng Zhao (CZ). This decision is viewed as a significant shift in U.S. crypto policy, potentially fostering a more favorable environment for cryptocurrency exchanges operating within the country.

In legislative news, the U.S. Senate has passed the GENIUS Act, a comprehensive bill aimed at regulating stablecoins. The act mandates a 1:1 fiat reserve for issuers, regular third-party audits, and compliance with anti-money laundering (AML) and know-your-customer (KYC) protocols. The bill is now headed for reconciliation with the House version and is expected to become law before the summer.

Institutional Investments

Circle, the issuer of the USDC stablecoin, has successfully debuted on the New York Stock Exchange, raising $1.05 billion. The stock surged 168% above the initial public offering (IPO) price, signaling strong institutional confidence in the cryptocurrency sector. Additionally, BlackRock plans to acquire 10% of Circle's shares, further underscoring the growing interest of traditional financial institutions in digital assets.

Technological Advancements

MetaMask, a leading cryptocurrency wallet, has integrated support for Solana, enabling users to send, receive, and swap SOL tokens directly within the browser extension. This update enhances cross-chain functionality and simplifies user experience by eliminating the need to switch between different wallets.

International Regulatory Actions

In Hong Kong, the government has published the Stablecoin Ordinance, authorizing only approved institutions to issue stablecoins tied to legal tender. While the ordinance has not yet been enacted, it represents a significant step toward regulating the stablecoin market within the region.

Conversely, Thailand's Securities and Exchange Commission (SEC) has announced plans to block several cryptocurrency exchanges, including Bybit, 1000X, CoinEx, OKX, and XT, starting June 28, 2025. These exchanges lack the necessary licenses to operate within the country, and operators may face legal charges for non-compliance.

Market Outlook

Analysts anticipate continued volatility in the cryptocurrency market, influenced by upcoming liquidity events and regulatory developments. A significant token unlock event scheduled for June 2025 is expected to release over $3.3 billion in tokens, potentially impacting market dynamics. Despite these fluctuations, institutional interest remains robust, with traditional financial institutions viewing digital assets as a crucial component of diversified portfolios.

In summary, the cryptocurrency market as of June 23, 2025, is characterized by a blend of regulatory advancements, institutional investments, and technological progress. While market volatility persists, the overarching trend indicates a maturing industry with increasing integration into mainstream financial systems.

Onyxcoin (XCN) is the native utility and governance token of the Onyx Protocol, a decentralized blockchain platform designed to facilitate sophisticated financial services. By enabling entities to create and manage digital assets cost-effectively, Onyxcoin positions itself as a significant player in the evolving Web3 landscape.

Tokenomics

Onyxcoin's tokenomics are meticulously structured to support its ecosystem:

• Total Supply: 48,402,437,326 XCN
• Circulating Supply: Approximately 32,592,684,478 XCN

This indicates that about 67.34% of the total supply is currently in circulation, with the remaining tokens being released in a controlled manner to maintain market stability.

Utility

Onyxcoin serves multiple functions within the Onyx ecosystem:

• Governance: XCN holders possess voting rights, enabling them to participate in decisions regarding protocol updates and resource allocation.
• Transaction Fees: XCN is utilized to settle transaction fees within the network, ensuring seamless operations.
• Staking: Users can stake XCN to earn rewards, promoting long-term holding and enhancing network security.

These utilities collectively enhance the token's intrinsic value and encourage active community engagement.

Market Performance

As of April 15, 2025, Onyxcoin is trading at approximately $0.01879, with a 24-hour trading volume of $107.9 million. The token has a market capitalization of around $624 million and a circulating supply of 33.2 billion XCN tokens.

Price History

Onyxcoin's price trajectory has experienced notable fluctuations since its inception:

• All-Time High (ATH): $0.1841 on May 27, 2022
• All-Time Low (ATL): $0.0007038 on October 12, 2023

As of March 30, 2025, XCN stands at around $0.01191. The sharp decline from its ATH underscores the volatility inherent in the cryptocurrency market, while the significant recovery from its ATL demonstrates resilience and potential for future growth.

Recent Developments

Onyxcoin has undertaken several strategic initiatives to enhance its platform and utility:

• Layer 3 Integration: The implementation of Layer 3 technology on Arbitrum Orbit and Base Layer 2 has improved scalability and reduced transaction fees, positioning Onyxcoin to handle higher transaction volumes more efficiently.

• Superbridge Implementation: The introduction of the Superbridge facilitates seamless multi-chain transfers across Ethereum, Base, and Onyx Layer 3, enhancing interoperability and user experience.

• Onyx DAO Governance: The establishment of the Onyx Decentralized Autonomous Organization (DAO) empowers XCN token holders to participate directly in governance, promoting community-driven and decentralized development practices.

These initiatives reflect Onyxcoin's commitment to continuous growth and adaptation within the dynamic blockchain landscape.

Security Measures and Community Response

Following a significant $3.8 million security breach on September 27, 2024, Onyxcoin implemented robust measures to restore trust and enhance security:

• Community-Backed Relaunch: The Onyx Improvement Proposal (OIP-46) was introduced, leading to the cessation of Ethereum-based lending markets and full reimbursement of lenders. The community unanimously supported the relaunch of Onyx Core on October 1, 2024.

• Enhanced Security Protocols: The protocol transitioned to a closed-ended lending setup incorporating real-world assets (RWA), non-fungible tokens (NFTs), and other cryptocurrency assets, aiming to offer more secure and diversified lending options.

These actions underscore Onyxcoin's dedication to security and community trust.

Technical Features

Onyxcoin's technical infrastructure includes:

• Onyx Virtual Machine (CVM): A Turing-complete programming environment supporting complex applications such as smart contracts, signature verification, and transaction conditions.

• Federated Consensus Protocol: Utilizes block generators and block signers to maintain chain integrity, ensuring secure and efficient operations.

• UTXO Data Model: Enables parallel transaction processing, minimizing resource usage and enhancing performance.

These features collectively contribute to Onyxcoin's scalability, security, and interoperability.

Community and Governance

The Onyx DAO governs the entire protocol, enabling the community to contribute and decide on the project's development. This decentralized governance model ensures that decisions are made collectively, reflecting the interests of the community.

Conclusion

Onyxcoin (XCN) exemplifies a multifaceted cryptocurrency with a strong foundation in decentralized finance. Its comprehensive tokenomics, diverse utility, and proactive development strategies position it as a noteworthy entity in the blockchain space. While the cryptocurrency market remains inherently volatile, Onyxcoin's commitment to innovation, security, and community engagement suggests a promising trajectory for the future.