After the market crashed yesterday, Onyxcoin (XCN) has begun to recover today and is among top crypto gainers. The XCN price is up 15%, now trading around $0.03.
One of the most popular crypto YouTube channels ‘The Economic Ninja’ that has over 547k subscribers released a viral video about XCN last night.
What you'll learn 👉
Onyxcoin’s Layer 3 Move
In his latest video, The Economic Ninja talks about XCN’s big update – they’re launching their own XCN Ledger. It’s a Layer 3 blockchain that runs on Arbitrum Orbit and gets its security from Coinbase’s Base Layer 2. The whole point? Making transactions faster and cheaper while keeping things secure.
XCN is moving away from being just another ERC-20 token. They’re building their own Layer 3 blockchain to handle more transactions and work better with other networks. They picked Arbitrum Orbit because it lets them customize their setup to make things run smoother and cost less. Unlike regular Layer 1 or Layer 2 solutions, this gives big companies and developers the freedom to build their own custom blockchain solutions.
The Gas Problem and Where is the XCN Price Headed Next
XCN had been dealing with a huge headache – Ethereum’s crazy high gas fees. They’ve been paying back gas fees to people who stake their coins, but soon they won’t have to. Once they switch to Layer 3, those high fees should be history. They’re using Coinbase’s Base blockchain (built on Optimism’s OP Stack) as their security layer, making sure everything still works smoothly with Ethereum and stays decentralized.
The project’s come a long way from when it was worth less than a quarter of a penny. Now it’s hit the billion-dollar club and made it into the top 100 on CoinMarketCap. The Economic Ninja thinks the XCN price could hit $0.10 by February 2025 – way up from today’s $0.03. That’s amazing news for early investors who got in at $0.0025.
He suggests taking some profits along the way but keeping some skin in the game. His take? XCN could be worth multiple billions within a year, looking at how the tech is coming along and how many people might start using it. With alt season kicking off, smaller coins like XCN are making moves before the big players like Bitcoin, Ethereum, and XRP start their next run.
Read also: If You Invest $1,000 in XCN and WEPE Today, Here’s How Much You Would Have in 3 Months
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