XCN is currently under selling pressure due to phased unlocks, with prices consolidating in the $0.0046–$0.0050 range. In the short term, liquidity pressure dominates, dampening rebound momentum. On the macro level, violent fluctuations in Bitcoin funding rates have led to oscillating market risk appetite, putting synchronous pressure on XCN and resulting in a lack of clear breakout signals. It is recommended to closely monitor unlock dynamics and changes in trading volume, with attention to potential structural inflows from key features going live. If the price breaks above $0.0050 with expanding volume, moderate allocation can be considered, with a stop-loss level below $0.0046.

Impacted by concentrated unlocks, XCN has entered a supply peak since mid-April. The unlocking-induced token release has created selling pressure, causing prices to consolidate between $0.0048–$0.0046. Daily candlesticks show consecutive dips and recoveries from April 15 to 17, and notably, trading volume surged on April 17, indicating a tug-of-war between sellers and buyers at current levels. In the short term, newly unlocked circulating supply remains the main factor holding back price appreciation.

This week, several tokens including CHEEL and DEP will experience large-scale token unlocks. CHEEL will unlock 6.42 million tokens on April 13, valued at $2.67 million (0.82% of circulating supply), and DEP will unlock 1.7 billion tokens on April 14, valued at $1.91 million (6.90%). Other tokens such as XCN, CONX, STRK, ARB, DBR, KAT, and YZY will also have significant unlocks between April 15 and 18.

This week, tokens such as CHEEL and DEP will experience large token unlocks.

Bitcoin funding rates have experienced drastic swings recently. On April 16, the rate shifted from extremely bearish to moderately bullish, only to return to the bearish zone on April 17. This bull-bear oscillation in funding rates reflects unstable market risk appetite, and as an altcoin, XCN's price is also under pressure, maintaining narrow-range consolidation. Currently, overall sentiment lacks sustained follow-through from major players, with short-term direction yet to be determined.

According to Coinglass data on April 16, as Bitcoin continues to rise, the funding rates on major centralized and decentralized exchanges indicate a significant weakening of the bearish market sentiment. Funding rates, used to balance perpetual contract prices with underlying asset prices, show that when rates exceed 0.01%, the market is generally bullish, while rates below 0.005% indicate bearish sentiment.

The current mainstream CEX and DEX funding rates indicate a significant weakening of the bearish market sentiment.

On April 17, Coinglass data showed that as Bitcoin maintained a volatile trend, the funding rates on major CEX and DEX platforms indicated a deepening bearish sentiment in the market. Funding rates, used to balance perpetual contract prices with underlying asset prices, reflect trader sentiment: rates above 0.01% signal bullishness, while rates below 0.005% indicate bearishness. Current rates suggest increased market pessimism.

The current mainstream CEX and DEX funding rates indicate a deepening bearish sentiment in the market.

Social platforms have launched contract address and tagging features, enhancing the visualization of crypto asset information and easing trading. As more endpoints and regions are covered in the future, XCN's exposure may increase. With prices now building a base between $0.0046–$0.0050, if market sentiment stabilizes and these features are rolled out, it could catalyze renewed capital attention. Continuous monitoring of holdings structure and capital flows is needed to validate the long-term impact of these features on XCN.

X has launched the Cashtags feature on iPhone in the US and Canada, providing users with real-time financial data for stocks and cryptocurrencies. Users can search or post content with Cashtags or contract addresses to see matched assets and price charts without leaving the app. X is piloting integration with Canadian broker Wealthsimple, allowing in-app trading. Plans include expanding Cashtags to web, Android, and global markets.

X launches Cashtags feature in the US and Canada, providing real-time financial data including cryptocurrencies, and pilots integrated trading with brokerages.

Onyxcoin

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Live chart for Onyxcoin to USD conversion. Check out XCN to USD prices in real time. Convert, buy, sell, and trade Onyxcoin on Bybit-eu.

Onyxcoin Price: XCN Live Price Today | XCN Market Cap & Chart Analysis | Bybit-eu

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