The cryptocurrency marketplace can be a tough nut to crack. Everyone is looking for the next Bitcoin, a unicorn that has since exploded in value. Though there may not be something that rare and valuable, there are several cryptocurrency tokens that could prove worthy investments.
An Onyxcoin price prediction is something that many are watching closely. A blockchain dedicated to financial services, Onyxcoin has not managed to achieve its all-time high price of a few years ago but remains an interesting play. Let’s take a closer look at Onyxcoin and how it could fare when the calendar turns to 2030.
Onyxcoin Price Prediction for 2030
Though it is no longer trading anywhere close to its all-time high of $0.18 per XCN token, there is still quite the promise ahead for Onyxcoin. Currently, it is trading at roughly $0.01 per token and the outlook for the future is one that has experts feeling exciting.
For coins at this level, things tend to jump by a few fractions of a penny. Though it may not seem like a big deal, it can be for those with serious holdings in Onyxcoin. The outlook for the cryptocurrency marketplace is generally bearish, with Onyxcoin looking promising come 2030.
In January 2030, experts feel that it will be around $0.011 per token. By December 2030, it should be at around $0.015 per token. Steady growth, especially with as many tokens as there are in circulation, is the goal for altcoins like this.
Onyx Protocol
In order to get a better idea of why it is a viable investment, we must first know more about the Onyx protocol. Onyx is a cloud blockchain infrastructure that gives companies the ability to create and provide financial service solutions through the unique Onyx blockchain – which is closed-ended.
These companies can then upgrade to blockchain technology without having to incur the risks that come with joining a larger blockchain network. Within the platform, these companies can then issue, transfer, and store any digital assets within that company’s own private independent network across several blockchain ecosystem products.
Onyx was designed to improve on the inconsistencies and risks within the financial settlements industry. The platform offers improvements in transparency, settlement delays, security issues, and more through its ledger-as-a-service option called Sequence.
Sequence gives users the ability to access the Onyx cloud blockchain’s accounting services, giving them the ability to manage balances but in a tokenized way. With standard options and premium access, there are benefits at each level. Users can even access the ability to design, develop, and utilize NFTs through Sequence’s NFT option.
What is XCN?
Like any other blockchain ecosystem, Onyxcoin has a native token. That native token, XCN functions as a utility token as well as a governance token. XCN holders have the ability to vote on both protocol improvement plans and community programs through Onyx DAO. Further, XCN means getting access to discounts on premium plans, paying for Sequence and Onyx Cloud fees, and even node deployment.
What initially began as CHN has since been rebranded to XCN and includes the new Onyx Token smart contract which operates on the Ethereum blockchain. Onyxcoin (XCN) has a stated maximum supply of more than 48.4 billion tokens.
Currently there are roughly 23.576 billion tokens in circulation or 44% of the maximum supply. When it was launched, 15 billion tokens were allocated to the Onyxcoin Foundation, while 10 billion went to the DAO. Monthly distributions include 200 million to the foundation and 100 million to the DAO.
How Does Onyx Protocol Work?
One of the best aspects of Onyx is that it allows several independent blockchain networks to not only exist together, but to work together as well. This is even in the face of them being operated by different firms. Onyx uses the principle of least authority in order to keep control over these assets while also keeping control separate from that over the ledger synchronization so that everyone remains safe.
Its cloud protocol gives any network participant the ability to define and issue assets through the creation of their own “issuance programs.” When these programs have been issued, units of assets are then kept in custody through control programs, which are essentially written in a Turing-complete programming language that is used to create smart contracts within blockchain environments.
Block signers are then assigned for each network, allowing it to remain secure. Even better, the system is protected from any forks so long as a majority of the signers are following the protocol. In order to make the blockchain more efficient, the protocol gives single block generators the ability to create new bocks. Any single node on the network is then able to not only validate blocks but submit transactions as well.
The Future of Onyxcoin
Though the platform is undoubtedly going nowhere, there are those who remain hesitant to invest in XCN. Its trajectory remains uncertain, and it is inherently at the whim of many market factors like adoption, regulatory challenges, central banking, and more.
Some experts predict modest gains by 2030 for Onyxcoin while others feel that it could rise to as much as $0.08 per token in the same span. Technological developments, positive cryptocurrency regulations, and improved adoption will no doubt be the biggest factors in driving the price of XCN up.
Like many crypto tokens, holding of XCN should be seen as a long-term play. It doesn’t have the growth potential of a larger token like Bitcoin, but Onyxcoin has a following and could become a truly valuable investment before long. With the crypto market looking bearish in the coming years, it remains to be seen what kind of ceiling Onyxcoin will have as the calendar turns to 2030.
