Onyxcoin Jumps 10% on Gas-Free Wallet Launch; 1200% Upside
Onyxcoin (XCN) climbed 9.44% to $0.01326 on August 19 after rolling out its gas-free Smart Wallet on Google Play and Apple App Store. Trading volume surged 204% to $76.9 million, boosting market capitalization to $470 million. Despite a 1,000% annual gain, XCN remains 92.8% below its all-time high of $0.1841. The new Smart Wallet, built on the Onyx blockchain and powered by Chain, supports multichain, fee-less XCN transfers on Ethereum, BNB Chain, and Base. This upgrade aims to simplify user access and drive broader adoption. Technical analyst Javon Marks set a bullish price target of $0.1816, implying a 1,260% upside from current levels. He cited a trendline breakout, base-building, and increasing volume as key signals. Traders should watch wallet adoption and overall crypto market trends to gauge whether the 1200% rally forecast materializes. Short-term volatility may persist, but a sustained uptrend could attract fresh capital and boost XCN liquidity.
Bullish
The launch of a gas-free, multichain Smart Wallet drove a 9.44% price surge and 204% volume spike for XCN, signaling renewed trader interest. An analyst’s 1,200% upside target adds bullish sentiment. Historically, major wallet upgrades—such as Metamask’s mobile rollout—have preceded sustained rallies when user adoption ramps up. In the short term, volatility may follow as traders test profit-taking levels, but the combination of strong on-chain metrics and product enhancements suggests a higher probability of extended upside. Continued wallet traction and positive crypto market trends could reinforce this bullish scenario.