Onyxcoin potential to be listed on Binance is now a question in the hearts of many XCN holders. Crypto Almanac made a video to address this issue, discussing the potential effect of a Binance listing on the coin. The 9-minute video discusses XCN market position and predicts its potential trajectory following a Binance listing.
Crypto Almanac explains that Binance maintains strict criteria for listing new tokens. The exchange particularly values projects with substantial trading volume and strong liquidity. XCN community engagement could work in its favor, as Binance typically seeks tokens with active user bases. Additionally, the platform scrutinizes a project’s technological infrastructure and practical applications, areas where XCN has shown promising development.
What you'll learn 👉
XCN Current Market Position
While no official announcement has been made regarding a Binance listing, XCN presence on other major exchanges, including Coinbase, speaks volumes about its credibility. According to Crypto Almanac’s analysis, XCN market metrics are particularly noteworthy, with a market capitalization of $868 million and daily trading volume of $180 million.
In his detailed analysis, Crypto Almanac draws interesting comparisons with currently listed tokens on Binance. He points out that QTUM, despite having a lower market cap of $340 million and daily volume of $118 million, maintains its position on Binance. Similarly, Mina Coin, with its $400 million market cap and mere $34 million daily trading volume, has secured its place on the exchange. These comparisons suggest favorable prospects for XCN potential listing.
The XCN team has recently made significant strides in ecosystem development. Crypto Almanac highlights the integration of Ledger wallet support with the BAS Network, enhancing security for XCN holders. Furthermore, the introduction of the Onyx Point System exclusively for XCN Ledger users demonstrates the project’s commitment to user engagement and long-term growth.
Read Also: Here’s Why $1 is Still a Realistic Target for OnyxCoin (XCN) Price, Elite Analyst
Technical Price Analysis
Crypto Almanac’s technical analysis reveals intriguing patterns in XCN price movement. Despite operating under a persistent downtrend, the token has maintained a strong upward support line. He identifies a significant bullish order block in the lower price ranges, suggesting concentrated buyer interest at these levels.
According to Crypto Almanac’s Elliott Wave analysis, XCN appears to have completed its first and second waves, potentially setting the stage for a powerful third wave movement. The formation of an inverted head-and-shoulders pattern further supports the possibility of a trend reversal, particularly significant if a Binance listing materializes.
Market Outlook
Crypto Almanac emphasizes that XCN price action shows remarkable resilience, with quick recoveries following dips indicating strong buyer presence. Combined with potential Binance listing prospects and technical indicators, the outlook appears promising for XCN holders.
Read Also: Celestia Price Breaks Out of Downtrend: Could TIA Hit $10 Next?
These insights from one of crypto YouTube’s prominent analysts, backed by his substantial following of over 600,000 subscribers, provide valuable perspective on XCN potential trajectory, especially in relation to a possible Binance listing.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
