Onyxcoin, a protocol focused on being the backbone of decentralized Web3, just had a terrific week. 

This month, the network’s XCN token rocketed 1,414%, hitting a two-year high of $0.049. 

While everyone was watching Bitcoin, this enterprise blockchain play quietly went parabolic.

Gains That Make You Weep 

We’re seeing monthly gains of 1,414% and weekly ones of 245%. 

The token is currently trading at $0.03713, but let’s not forget that XCN is still down 79.7% from its $0.18 all-time high from three years back. 

But with a pump like this coming out of nowhere, something' definitely seems to be brewing with the project.

Whales Are In The Water

Big money is moving in with flows that suggest this is just the beginning. 

Whales added 5.99 billion XCN in five days, pushing their total from 57.36 billion to 63.35 billion tokens. 

When whales start stacking hard, they usually know there’s more left in the tank to take the rocket higher.

The picture looks even better when you consider the fact that 2.15 million XCN left exchanges this week. 

Normally when a token is seeing big net outflows away from exchanges, it means that people are buying to hold, not trade in the short term.

Smart money moves to cold storage before big moves – it’s the safest place to hold coins if you don’t plan on letting them go sooner rather than later

The Network Is On Fire

Active addresses are pumping alongside that token price.

Price-DAA divergence has been green all week, which means more people are actually using Onyxcoin, not just trading it. 

That's real adoption for the network and not just speculation on the token continuing its journey to the moon.

With an MVRV ratio of -6.62, markets think XCN is still cheap even after a 1,414% run. 

That's rare in crypto – usually, after pumps this big, the market needs a bit of cooling of,f and the play starts to look a bit expensive.

Don’t Lose Your Shirt

The setup looks strong for $0.05. 

But keep in mind that after a run this hard, gravity is a force to be reckoned with. 

$0.0304 looks to be the new floor for the time being.

Wherever we go from here, we have whales buying, exchanges draining, and enterprise adoption growing. 

If this continues, XCN’s recent gains will start looking less like a pump and more like the start of a bull run for a project finding its real value.