XCN Price Is Up 116% But Young Holders’ Rising Profits Present A Threat

Onyxcoin (XCN) has seen a strong recovery, surging over 116% and approaching the $0.0100 region, driven by aggressive accumulation from newer participants. On-chain data shows that holders who acquired XCN between one and three months ago now control nearly 37% of the supply, up from 19% at the start of the month. While this influx stabilized the price, it also concentrates supply in volatile, short-term hands. Broader indicators like the MVRV Long/Short Difference suggest these short-term holders are sitting on substantial unrealized gains, increasing the likelihood of profit-taking which could destabilize the price. Currently trading around $0.0090, XCN must hold the critical $0.0088 support; a breakdown could lead to a drop toward $0.0077 or $0.0065, while a move above $0.0095 could signal a continuation toward $0.0108.

(Source：BeInCrypto)