A YouTube crypto analyst with over 30,000 subscribers shared a very positive outlook for Onyxcoin (XCN). In his video on the “Bags Only” channel, he discusses XCN impressive 150% price increase over the past week, grabbing attention from investors everywhere.
The analyst believes Onyxcoin still has much more room to grow, especially after its Binance listing announcement.
#Binance Futures will launch the USDⓈ-M $XCN Perpetual Contract at
— Binance Futures (@BinanceFutures) April 11, 2025
🗓️ April 11 2025, 15:30 (UTC)
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What you'll learn 👉
Onyxcoin Price Surges Following Major Developments
The Bags Only creator explains that Onyxcoin price jumped from less than $0.01 to about $0.22 very quickly. This means XCN grew by 152% in just one week. At the time of the video, the trading volume was almost half a billion dollars, nearly as much as its total market value.
While this recent price jump looks dramatic on short-term charts, the analyst points out it’s still just “a small blip” when looking at the full history back to 2022. However, the past year’s chart shows a clear upward trend.
The main reason for this sudden price increase is Binance Futures adding XCN perpetual contracts. The YouTuber called this “one of those catalysts that we were waiting for” and a clear sign that the project is still in its early stages despite the growth.
XCN Price Prediction: Analyst Targets Significant Upside
The creator shared some specific price targets for Onyxcoin. He reminded viewers that XCN previously reached a $1.1 billion market cap in January, even during uncertain market conditions.
Looking forward, he believes an $8 billion market cap is “extremely attainable” for XCN. This would push the price to around $0.23 per coin.
Even more optimistically, he calculated that if XCN reaches a $22 billion market cap, the price could hit $0.67, which would be a 30x return from current levels. The analyst has consistently maintained that XCN could reach between $0.20 and $0.50.
Why Onyxcoin (XCN) Has Strong Foundation for Growth
The Bags Only analyst highlighted several reasons why he believes in Onyxcoin’s continued growth:
First, XCN now has over 46,000 holders, gaining more than 1,000 new investors in just two weeks. The YouTuber mentioned he’s been tracking this steady growth for months.
Second, he discussed the important relationship between Chain and Onyxcoin, noting that “Chain essentially has incubated Onyx.” He mentioned that the “Chain team plans to work closely with Onyx to ensure ISO 222 compliance for the XEN Layer 1 blockchain network,” which he sees as another positive development.
Read Also: Bitcoin Price Struggle May Be Ending — Ongoing Breakout Hints at Incoming All-Time High
The analyst also talked about broader market conditions, including how recent political decisions on tariffs temporarily pushed Bitcoin to around $84,000. He believes that for altcoins like XCN to really take off, Ethereum needs to regain strength and potentially return to its December high of $4,000, which would help all cryptocurrencies.
Throughout the video, the creator emphasized that his positive outlook on Onyxcoin isn’t just because of the recent price jump. He’s been consistently bullish on XCN for months, pointing viewers to the “numerous, numerous videos” he’s made about it previously.
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