ONYXCOIN SURGES 50% AFTER UPBIT LISTING

Onyxcoin ($XCN) climbed to a three-month high after South Korean exchange Upbit confirmed it would list the token on April 27. The altcoin reached an intraday peak of $0.0086 — its strongest level since mid-January — with $XCN trading at $0.0077 at press time, up roughly 50% over 24 hours and as much as 64% at peak. The sharp rally propelled $XCN to the top of the gainers' list among the 1,000 largest cryptocurrencies by market capitalisation on CoinGecko.

What Drove the Move

According to Upbit's official announcement, $XCN began trading on April 27 in both Korean won (KRW) and Tether (USDT) pairs, with the session opening at 16:00 Korean Standard Time (KST). Trading volume surged more than 1,700% to around $100 million, reflecting strong demand from domestic Korean traders and international participants alike.

To manage the initial rush, Upbit applied short-term trading restrictions at launch. For the first five minutes, buy orders were blocked and sell orders priced more than 10% below the previous day's close were also restricted. Only limit orders were permitted for approximately two hours after trading opened — measures the exchange said were intended to reduce volatility and ensure a fair, controlled start. Upbit also noted that only the Ethereum network is supported for $XCN deposits and withdrawals; transfers from other networks will not be accepted.

Upbit listings have historically produced sharp short-term price reactions in newly listed altcoins, and the Onyxcoin debut was no exception.

About Onyxcoin

Onyxcoin is a Layer 3 blockchain solution built on the Arbitrum Orbit infrastructure, designed to offer high transaction capacity, low fees, and Ethereum compatibility. The $XCN token serves multiple functions within the ecosystem, including transaction fees, staking, governance, and service payments.

Sources:
BeInCrypto — Why Is Onyxcoin (XCN) Up Today?
Bitcoin Sistemi — Upbit Announces Listing of Onyxcoin (XCN)