In the world of blockchain finance, Onyxcoin stands at a crucial crossroads. As traditional financial systems increasingly embrace digital transformation, projects like Onyxcoin are positioning themselves to bridge the gap between conventional finance and blockchain technology.
Lee The Captain believes there’s promising news for XCN holders as the OnyxDAO has announced they are close to a beta launch of the Onyx smart wallet. This new wallet will feature gas-free transactions and passive wallet access specifically designed for the XCN Ledger.
While he doesn’t consider this the most important development in cryptocurrency, The Captain views it as a positive sign that the Onyx team is actively working to improve their ecosystem. He points to this development as evidence that the project is continuing to build, contrary to some critics who claim Onyx isn’t making progress.
Onyxcoin Token Bold Leap as Testnet Goliath Signals Renewed Vision
According to Lee The Captain, Onyx is planning to launch the testnet for Goliath, their L1 blockchain focused on finance, in Q3 of this year. He acknowledges that creating another Layer 1 blockchain is not revolutionary, especially when compared to established projects like Stellar, which already offers extremely fast transactions.
However, The Captain emphasizes that in cryptocurrency markets, effort and narrative often matter more than immediate results. He observes that many crypto projects that promise revolutionary metaverse platforms or blockchain games succeed during bull markets despite never delivering finished products.
Lee The Captain highlights the passionate XCN community as a key strength of the project. He notes that XCN token has secured listings on major exchanges including Coinbase, Kraken, KuCoin, and Gate.io, which he believes checks important boxes for potential growth.
The financial expert also points out that XCN token is targeting the same markets as Ripple token and Stellar token, which he describes as a proven formula in the cryptocurrency space. This market focus on global payments and financial services gives him confidence in the project’s direction.
$1 XCN Price Target Seen as Achievable with Strong Support
Lee The Captain maintains his price target of $1 for XCN during this bull run, which would represent approximately a 52x return from current prices. He calculates this would give onyxcoin token around a $33 billion market cap based on circulating supply, which he doesn’t view as unrealistic given the size of the global payments market (valued at over $2 trillion) and the global trade and finance market (predicted to reach $5 trillion by 2028).
The Captain believes Onyxcoin has higher growth potential than Ripple or Stellar in the short term. While those established cryptocurrencies may struggle to achieve a 50x return in the next 6-10 months, he sees this as more feasible for XCN given its lower current valuation.
Despite price volatility, Lee The Captain continues his strategy of dollar-cost averaging into XCN token. He shares that he has purchased XCN token before it pumped, during its pump, through its major dip, and during its current recovery.
The Captain describes his approach as simple: consistently allocate some portion of income to acquiring and holding XCN while patiently waiting for the broader cryptocurrency bull market to develop. He believes that as Bitcoin potentially reaches new all-time highs of $100,000 or more, XCN token will benefit alongside other financial-focused cryptocurrencies like XRP token and XLM token.
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