Can Onyxcoin (XCN) Secure a Binance Listing, and How Could It Affect XCN Price?

Onyxcoin potential to be listed on Binance is now a question in the hearts of many XCN holders. Crypto Almanac made a video to address this issue, discussing the potential effect of a Binance listing on the coin.

Many XCN holders are eagerly awaiting news of Onyxcoin's potential listing on Binance. A recent video by Crypto Almanac addresses this topic, discussing the potential impact of a Binance listing on the coin's price. This 9-minute video analyzes XCN's market positioning and attempts to predict its trajectory following a Binance listing.

According to Crypto Almanac, Binance maintains stringent criteria for listing new tokens, prioritizing projects with substantial trading volume and strong liquidity. The XCN community's engagement could benefit the coin, as Binance typically seeks tokens with active user bases. Furthermore, the platform scrutinizes a project's technological infrastructure and practical applications, areas where XCN has shown promising development.

XCN's Current Market Standing

While there is no official news yet on a Binance listing, XCN's presence on other major exchanges, including Coinbase, speaks to its credibility. Crypto Almanac's analysis highlights XCN's market metrics, which are particularly noteworthy, with a market capitalization of $868 million and daily trading volume of $180 million.

In his detailed analysis, Crypto Almanac draws interesting comparisons with tokens currently listed on Binance. He points out that QTUM, despite having a lower market cap of $340 million and daily volume of $118 million, maintains its listing on Binance. Similarly, Mina Coin, with its $400 million market cap and mere $34 million daily trading volume, has secured its place on the exchange. These comparisons bode well for XCN's potential listing.

The XCN team has recently made significant efforts in ecosystem development. Crypto Almanac highlights the integration of Ledger wallet support with the BAS Network, enhancing security for XCN holders. Additionally, the introduction of the Onyx Point System exclusively for XCN Ledger users demonstrates the project's commitment to user engagement and long-term growth.

Technical Price Analysis

Crypto Almanac's technical analysis reveals intriguing patterns in XCN's price movement. Despite operating within a persistent downtrend, the token has maintained a strong upward support line. He identifies a significant bullish order block in the lower price ranges, suggesting concentrated buyer interest at these levels.

According to Crypto Almanac's Elliott Wave analysis, XCN appears to have completed its first and second waves, potentially setting the stage for a powerful third wave movement. The formation of an inverted head-and-shoulders pattern further supports the possibility of a trend reversal, particularly significant if a Binance listing materializes.

Market Outlook

Crypto Almanac concludes by highlighting XCN's price action, which shows remarkable resilience, with quick recoveries following dips indicating a strong buyer presence in the market. Combined with potential Binance listing prospects and technical indicators, the outlook appears promising for XCN holders.

These insights from one of crypto YouTube's prominent analysts, backed by his substantial following of over 600,000 subscribers, provide a valuable perspective on XCN's potential trajectory, especially in relation to a possible Binance listing.

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