Onyxcoin Faces Volatility After Robinhood Listing as Whales Accumulate
The post Onyxcoin Faces Volatility After Robinhood Listing as Whales Accumulate appeared on BitcoinEthereumNews.com.
Onyxcoin (XCN) surged 39% to $0.00695 after its Robinhood listing, driven by increased liquidity and whale accumulation, though it retraced to $0.0055 amid profit-taking. The listing boosted trading volume by 219% to $45.53 million, signaling strong market interest. Onyxcoin’s Robinhood listing sparked a 39% price jump, enhancing accessibility for U.S. traders including in New York. Trading volume rose 219% to $45.53 million, reflecting heightened on-chain activity and investor accumulation. Whale holdings increased by 28%, with a net addition of 636.6 million tokens, indicating aggressive buying pressure per Nansen data. Discover how Onyxcoin’s Robinhood listing fueled a 39% surge in XCN price, boosting liquidity and whale activity. Stay updated on this key development in the crypto market and its potential impact. What Impact Did the Robinhood Listing Have on Onyxcoin Price? Onyxcoin experienced significant volatility following its listing on Robinhood, a major U.S.-based cryptocurrency exchange. The altcoin, which had been trading in a descending channel with downward pressure, held the $0.005 support level before rallying 39% to a local high of $0.00695. At the time of reporting, XCN was priced at $0.0055, marking a 4.14% daily increase, primarily attributed to the enhanced visibility and trading access provided by the platform. How Has Whale Activity Influenced Recent Onyxcoin Movements? Onyxcoin’s market dynamics have been notably shaped by large holders, often referred to as whales, who have increased their participation following the Robinhood listing. Data from CryptoQuant indicates a rise in spot average order sizes over the past month, highlighting greater involvement from these influential investors. This trend aligns with historical patterns where whale accumulation precedes price upticks. Further insights from Nansen reveal that top holders expanded their positions by 28% in the last 24 hours, acquiring 911 million XCN tokens while offloading only 274.35 million. This resulted in a net positive balance…
