Whales Buy 10 Billion Onyxcoin After 60% Price Drop

Edgen Crypto

·Feb 03 2026, 22:54

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Key Takeaways

Following a dramatic price correction in January, large-scale investors have made a significant move into Onyxcoin (XCN), signaling confidence in the asset's potential for a rebound. The accumulation follows a period of intense volatility that saw the token first rise over 200% before losing more than half its value.

Whale Accumulation: Sophisticated investors, or "whales," acquired 10 billion XCN tokens around February 3, 2026, indicating a bullish outlook.
Extreme Volatility: The token experienced a 216% price increase in late December and early January before a sharp 60% correction between January 6 and January 31.
Potential Price Floor: This large-scale buying pressure may establish a new support level for XCN, potentially absorbing further selling and setting the stage for a new price recovery.

Onyxcoin Corrects Nearly 60% After Q4 Price Climb

Onyxcoin (XCN) has undergone a period of significant price volatility, setting the stage for a major accumulation event. The token's value increased by a massive 216% through late December 2025 and early January 2026. However, that upward momentum reversed sharply, with the price declining nearly 60% between January 6 and January 31. This steep correction brought the price to a level that attracted significant buying interest from large-volume traders.

Whales Accumulate 10 Billion XCN Near Price Bottom

Around February 3, 2026, large-scale investors, colloquially known as "whales," capitalized on the lower prices by accumulating approximately 10 billion XCN tokens. This strategic buying suggests that sophisticated market participants believe the token was undervalued after its recent drop. Such a large accumulation by a few entities often signals a calculated bet on a future price recovery, contrasting with sentiment from retail investors who may have sold during the downturn.

Large-Scale Buying Signals a Potential Trend Reversal

The coordinated accumulation is a strong technical signal that could have immediate implications for Onyxcoin's market structure. The purchase of 10 billion tokens creates significant buying pressure, which can absorb remaining sellers and establish a firm price floor. For investors, this whale activity serves as a critical data point, suggesting that smart money anticipates a stabilization and potential reversal of the recent downtrend.