- Onyxcoin token XCN price dropped 20% today as the broader crypto market lost 10% in market cap.
- Onyxcoin launched its layer1 Onyx Goliath blockchain network earlier today.
Onyxcoin has made a strong comeback this year after being dormant for the past few years. Its XCN token witnessed a dramatic price surge of 1500% in Jan this year. However, since then XCN price has been falling with short gains in between. Today, XCN price dropped by around 20% while the project launched Onyx Layer1 Goliath blockchain network.
Onyxcoin’s XCN price is trading at $0.0153 with a 22% drop in the last 24 hours. Its market cap dropped to $500 million and the 24-hour trading volume decreased by more than 55%. From the highs of $0.035 in Jan, it now fell into the lows of $0.015 price range.
The broader crypto market also lost around 10% market cap today. Crypto market liquidations reached $1.09 billion following considerable price surges yesterday. Donald Trump’s new announcement on crypto reserve that triggered market surge yesterday faded within less than 24 hours.
Onyxcoin launches Onyx Layer1 Goliath Blockchain Network
Onyxcoin introduced the layer1 Goliath blockchain network earlier today which is powered by XCN token. The team built this network for banks and financial institutions to increase institutional blockchain adoption.
By combining faster transactions and financial sector requirements, Onyxcoin brought this network to expedite blockchain usage. Furthermore, the project announced its future plans such as Whitepaper Release in Q2, Test Network deployment in Q3 this year. Main network launch and bank connectivity Mesh Network launch will take place in 2026.
The Onyxcoin project has recently announced multiple developments of the project. It includes the XCN Ledger layer3 blockchain and non-custodial gas-free Onyx Wallet. The project developments bringing real time applications combined with the resolution of prior disputes with Tron founder are bringing hopes into its community, showcasing future growth potential.
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