![Onyxcoin [XCN]](/cdn-cgi/image/onerror=redirect,width=640,height=640,format=webp/https://storage.googleapis.com/uploads.mongoosehq.com/url/media/89920018/ca79ddb6521cde0e247897176ade36f47ab367764deedbad6c0315e2fd3db294)
Overview
- XCN hit its highest level since Oct. 2 after rising roughly 200% from this year’s low, pushing market capitalization above $422 million.
- Futures open interest climbed to about $5.8 million, a months-high per CoinGlass, as volumes swelled and short liquidations topped $343,000 on Tuesday.
- OI-weighted funding flipped deeply negative to the lowest since Oct. 10, showing shorts still dominate positioning despite rapid gains.
- Spot participation stayed modest with about $327,000 in net inflows, underscoring a rally driven more by leverage than by spot accumulation.
- Technical gauges are overbought, with structure reclaimed above the $0.0055 pivot and resistance near $0.0070, and analysts flag a possible pullback toward $0.00695 if momentum fades.