Last Updated on April 29, 2025
📌 Quick Summary:
- Onyxcoin (XCN) rises to $0.019, marking a 20% weekly gain.
- Price surge driven by renewed institutional interest and wallet accumulation.
- On-chain data shows uptick in staking activity and exchange outflows.
- Analysts point to token restructuring and protocol transparency as drivers.
- PlutoChain ($PLUTO) maintains strong upward trend as BTC-native DeFi accelerates.
XCN Gains Momentum With 20% Weekly Rally
Onyxcoin (XCN), the utility token powering the Onyx Protocol ecosystem, saw a solid 20% gain this week, climbing to $0.019 USD and reclaiming attention from both institutional and retail investors. As of April 29, 2025, XCN is one of the top-performing mid-cap tokens on CoinMarketCap’s DeFi leaderboard.
The surge appears to be backed not just by short-term speculation but by clear on-chain activity, including exchange outflows and an increase in long-term staking behaviors. Whales and crypto funds have resumed accumulation, particularly following Onyx Protocol’s decision to restructure token vesting and strengthen community governance rights.
“What we’re seeing is a blend of strong tokenomics realignment and market revalidation,” said Amanda Singh, senior analyst at DeFiMetrics.
Key Catalysts Behind XCN’s Price Action
XCN’s recent rally coincides with a broader shift toward low-FDV, high-utility assets that have delivered consistent protocol upgrades during the market lull. Several specific developments contributed to the move:
- Institutional wallet activity increased 38% week-over-week.
- Onyx DAO passed two major proposals expanding staking APY and treasury management.
- Token burns reduced circulating supply by 2.1% in April alone.
- Positive sentiment spread across X (Twitter), with XCN trending in DeFi-related discussions.
The Onyxcoin team has also hinted at new cross-chain liquidity partnerships, which could extend the protocol’s reach across Arbitrum, Polygon, and Base in the coming months.
Technical Outlook: Can $0.020 Be Breached?
XCN is currently consolidating just below the key psychological resistance of $0.020. If broken, analysts believe $0.024 and $0.028 are viable short-term targets.
Key Technicals:
- Current Price: $0.019
- RSI (Daily): 63 – approaching overbought territory
- Support: $0.0165 and $0.015
- Volume: 3.2x above 14-day average
Traders are eyeing volume confirmation and staking wallet growth as indicators for whether the rally has legs or is due for a cool-off.
BTC Layer-2 Adoption Expands as PlutoChain Gains Ground
As tokens like XCN gain traction within Ethereum-based DeFi frameworks, a growing wave of developers and users are pivoting toward Bitcoin-native infrastructure — and PlutoChain ($PLUTO) is emerging as a leader in that shift.
Unlike ecosystems still optimizing Layer-2 design through rollups and bridges, PlutoChain is already delivering a high-speed, secure, EVM-compatible experience on top of Bitcoin.
Built with modular scalability in mind, PlutoChain offers:
- Live Uniswap trading with growing depth and organic market activity
- Over 113,000 testnet transactions, pointing to developer adoption
- A 32% recovery rally after its initial launch dip
- A 120% listing day surge, fueled by retail and protocol-native buyers
- Deployment via Celestia + OP Stack, enabling 2-second block finality
PlutoChain is one of the few Bitcoin Layer-2 protocols that doesn’t rely on vaporware promises — it is already functioning, already composable, and already attracting builders and liquidity.
As cross-chain interoperability becomes more essential, PlutoChain is positioning itself as the anchor for Bitcoin-based DeFi — not by mimicking Ethereum, but by advancing BTC’s own smart contract potential.
Final Thoughts
XCN’s surge to $0.019 shows the power of aligning community governance, real yield mechanics, and transparent protocol stewardship. With institutional flows returning and technical indicators strengthening, Onyxcoin’s next leg could extend beyond speculative momentum.
At the same time, a parallel evolution is unfolding in the Bitcoin ecosystem — and PlutoChain is at the heart of that story. As Ethereum and Solana Layer-2s continue to crowd their verticals, PlutoChain is capturing a market few others can reach: scalable DeFi infrastructure rooted directly in Bitcoin’s immutable foundation.
For investors looking beyond the current hype cycle, PlutoChain may offer one of the clearest paths toward sustainable Layer-2 growth in 2025.
Disclaimer:
The information is for educational purposes only and should not be considered as investment advice. Cryptocurrency trading carries significant risks, and readers should do their own research and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results, and all investments can lose value.
