• Onyxcoin, Lido DAO, and Gate Token were the week’s biggest winners.
• OFFICIAL TRUMP, THORChain, and Fartcoin had the biggest losses of the week.

The cryptocurrency market demonstrated remarkable contrasts this week, featuring explosive gains alongside dramatic corrections.

From established tokens showing sustained growth to newly launched projects experiencing significant volatility, the market clearly illustrated both opportunity and risk in the digital asset space.

Biggest winners

Onyxcoin [XCN]

Onyxcoin [XCN] has delivered a spectacular performance this week, surging from $0.01 to $0.0493, posting a staggering 421% gain, making it the week’s top performer.

The token’s price action revealed a carefully orchestrated accumulation phase, followed by explosive momentum.

The early week saw XCN consolidating around $0.01 levels, building a base that would later serve as a springboard for its remarkable ascent.

The breakthrough came on the 24th of January, when prices suddenly jolted upward, breaking through multiple resistance levels with conviction. 

Trading volume exploded to 6.73B XCN during this phase, indicating massive buyer interest.

From a technical perspective, XCN had decisively broken above both its 50-day (0.00599) and 200-day (0.00260) moving averages at press time, confirming a strong bullish trend.

The RSI has pushed into extremely overbought territory at 96.51, though such readings can persist during strong trend initiations.

Trading at press time showed continued strength, with another 40.90% gain, pushing prices to fresh highs of $0.04934.

The price action demonstrated strong buy

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Author: Adewale Olarinde