Binance’s XCN Futures Listing Sparks 56% Onyxcoin Rally

Onyxcoin (XCN) surged 56% in a single day after Binance announced plans to launch a futures contract for the token. The dramatic price movement highlights the market impact of major exchange listings, though questions remain about the rally’s sustainability.

Onyxcoin (XCN) Jumps 56% After Binance Futures Contract Announcement

Onyxcoin (XCN) experienced a significant 56% jump in price on Friday following the announcement by Binance, the digital asset exchange giant, that it would launch a futures contract for the token. The price surge occurred shortly after trading volume increased sharply across various exchanges. Although there is speculation about the sustainability of this rally, with a negative price swing being a possibility, the listing of a new USDⓈ-Margined XCNUSDT Perpetual Contract by Binance at 15:30 UTC on April 11 allows traders to use USDT to trade XCN with leverage up to 25x. However, XCN lost nearly 10% over the last 24 hours, indicating potential volatility.

SEC and Binance Seek 60-Day Pause in Ongoing Lawsuit

The U.S. Securities and Exchange Commission (SEC) and Binance have jointly requested a 60-day litigation pause to finalize ongoing settlement negotiations. This development comes after the formation of the SEC’s Crypto Task Force in February 2025, which aims to harmonize digital asset regulations with securities laws. Binance and the SEC have had productive talks, partly tied to the Crypto Task Force’s efforts. Notably, Binance settled a $4 billion lawsuit with the Department of Justice (DOJ) in 2023, and its CEO, CZ, resigned amid mounting legal pressure.