Categories: Crypto

XCN Crypto Is Set For Mega Update: What Does it Mean for Onyxcoin Price?

XCN crypto is set for a major update – OIP-56 – and XCN price is flipping bullish, but what does all this mean for Onyxcoin price long-term?

Onyxcoin’s XCN crypto price action is scrutinized as it consolidates within a tight range. The upcoming OIP-56 proposal, which introduces gas-free voting, could be a game-changer.

XCN’s price is holding up, but the fundamentals don’t support optimism. A high Network Value-to-Transaction (NVT) ratio suggests the network isn’t earning its valuation, and despite a decent RSI, momentum looks stalled. Traders are waiting, not betting.

NVT Ratio Indicates Potential Overvaluation for XCN Crypto

Onyxcoin’s NVT ratio just hit a five-month high, and that’s not a bullish signal. The spike suggests a growing disconnect between the token’s market cap and actual activity on the blockchain.

In short, valuation is soaring, but usage isn’t. Historically, that imbalance has been a warning sign, often followed by corrections. Unless fundamentals improve, Onyxcoin could set itself up for a reality check.

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XCN is holding steady for now. RSI levels suggest there’s still mild bullish momentum, but all eyes are on the $0.0214–$0.0165 trading band.

Break above the top; XCN could push toward $0.0237 or higher.

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OIP-56 Update Brings Optimism

OIP-56 could be Onyxcoin’s lifeline. The proposal introduces gas-free voting—an upgrade that might actually bring utility to the chain. If it delivers, XCN could shake off its malaise and regain investor momentum.

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But for now, the fundamentals aren’t cooperating. A ballooned NVT ratio and flat transaction volumes cast a long shadow over its market cap ranking.

XCN’s sideways action reflects a broader uncertainty for its price.

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What Lies Ahead For XCN Crypto?

Onyxcoin is approaching a make-or-break moment. A push past $0.0214 could invite fresh capital and turn sentiment around. However, a slip below $0.0165 will confirm what skeptics already fear, that the price is running ahead of fundamentals.

The OIP-56 update promises a splash of real-world use, but the gap between promise and performance hasn’t closed.

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Key Takeaways

Onyxcoin’s XCN crypto price action is under scrutiny as it consolidates within a tight range.
Yet, the elevated Network Value-to-Transaction (NVT) ratio raises concerns about overvaluation.
The OIP-56 update promises a splash of real-world use, but the gap between promise and performance hasn’t closed.

The post XCN Crypto Is Set For Mega Update: What Does it Mean for Onyxcoin Price? appeared first on 99Bitcoins.

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Adam Forsyth