Onyxcoin (XCN) has been one of April’s standout performers, soaring 132% month-to-date and nearly 10% in the past week. Trading volume has surged as well, climbing over 82% in the past day to reach $208.47 million, reflecting heightened interest and activity.
As the rally matures, key momentum and trend indicators start to shift. RSI has dipped, BBTrend has turned negative, and XCN is now testing a crucial support zone. With price action at a pivotal level, the next move could define whether this breakout continues or fades into a deeper pullback.
The token saw an aggressive momentum shift over the past few sessions, with its RSI climbing from 36 on April 21 to 75 by April 23—reflecting a fast-paced surge in buying pressure.
While the move initially indicated overbought conditions, today’s dip to 63.21 suggests that momentum is easing, although it remains in bullish territory.
The RSI is a popular momentum oscillator that ranges from 0 to 100, often used to assess whether an asset is overbought or oversold.
Readings above 70 typically indicate overbought conditions, signaling that a pullback could be imminent, while levels below 30 suggest oversold territory and a potential buying opportunity. With XCN’s RSI now at 63.21, it implies the recent rally has lost some steam but still holds a bullish bias.
This could mean a brief consolidation or minor pullback is likely before any renewed push higher, especially if buyers step back above key support levels.
Onyxcoin BBTrend has sharply reversed, currently sitting at -5.53 after briefly touching a high of 3 yesterday. This marks a notable shift, considering the indicator had remained in negative territory between April 17 and April 23.
The BBTrend (Bollinger Band Trend) is a volatility-based momentum indicator that helps identify the strength and direction of price trends. Readings above +1 suggest a strong uptrend, while readings below -1 indicate a strong downtrend.
This could mean that XCN’s recent price rebound may face increasing headwinds, with a possible return to support levels unless renewed buying interest reverses the trend again.
XCN Bulls Need to Hold the Line—Or Risk 35% Drop
Onyxcoin price is hovering just above a key support level of $0.020, a critical zone that could determine its next major move.
The EMA lines remain bullish, with short-term averages above long-term ones, suggesting the broader trend still leans upward.
If this support holds firm, XCN could rebound and target the resistance at $0.027. A break above that level could open the path toward $0.030—a price not seen since February 2.
Onyxcoin has struggled since reaching a year-to-date high of $0.04 on January 26. It has since shed over 70% of its value to trade at $0.011 at press time.
However, the renewed optimism in the broader crypto market is shifting sentiment toward XCN, setting it up for a recovery.
XCN Traders Bet Big on a Comeback
On-chain data suggests that demand for long positions is increasing, hinting at a resurgence in traders’ confidence. At press time, XCN’s long/short ratio is at 1.35, its highest in over 30 days.
The long/short ratio measures the proportion of long positions (bets on price increases) to short positions (bets on price declines) in the market. A ratio below one means there are more short positions than long ones. Conversely, a ratio above one suggests that traders are taking more long positions, signaling a bullish outlook on the asset.
When the ratio is this high, traders expect the price to rise, increasing the buy orders in the market. If this continues, it will drive up XCN’s demand and, as a result, its price.
Additionally, the token’s weighted sentiment is positive, further reinforcing the notion that investors’ confidence in XCN’s short-term recovery is increasing. At press time, this on-chain metric stands at 0.82.
An asset’s weighted sentiment measures its overall positive or negative bias, considering both the volume of social media mentions and the sentiment expressed in those mentions.
When it is positive, it is a bullish signal. It indicates a growth in positive bias toward XCN, which could prompt its investors to increase their trading activity, driving up its value.
XCN Bulls Eye a Break Above Descending Channel
On the daily chart, XCN is poised to break above the upper trend line of the descending channel which has kept its price in a decline since January 26.
If successful, the bullish breakout could propel the token’s price to $0.022, a high it last reached on February 18.
If the downtrend persists, XCN could fall below the lower trend line of its descending channel which forms support at $0.0085. In this scenario, its price could drop lower to $0.0075.
US Senators Sheldon Whitehouse and John Fetterman have introduced the Clean Cloud Act of 2025. The bill aims to reduce carbon emissions from energy-intensive crypto-mining operations and artificial intelligence data centers.
This comes at a time when Bitcoin miners are increasingly moving towards renewable energy sources to power their operations.
Clean Cloud Act Links Rising Energy Demand to Bitcoin Mining
According to the bill, the Environmental Protection Agency (EPA) would have the authority to set annual carbon performance standards for facilities with over 100 kilowatts of installed IT power.
These standards would tighten each year, with emissions limits declining by 11% annually.
Companies that exceed the cap will pay a starting fee of $20 per ton of carbon dioxide equivalent. This fee will rise yearly, adjusting for inflation and an additional $10 per ton. The bill also enforces strict accounting methods to include indirect emissions from the grid.
The lawmakers argue that crypto miners and AI centers are driving up power demand at an unsustainable pace. According to them, the current clean energy sources cannot keep up with the rapid growth of the demand for Bitcoin mining.
They noted that data centers alone use 4% of all electricity in the US and could hit 12% by 2028. They also pointed out that utilities have even restarted old coal plants to meet rising demand, worsening the country’s carbon footprint.
Considering this, Senator Whitehouse noted that this pressure is driving up electricity costs for consumers. He said the bill would push tech firms toward clean energy investments and help ensure the US power grid can reach net-zero emissions within the next decade.
“The good news is that we don’t have to choose between leading the world on AI and leading the world on climate safety: big technology and AI companies have all the money in the world to pay for developing new sources of clean energy, rather than overloading local grids and firing up fossil fuel pollution. The Clean Cloud Act will drive utilities and the burgeoning crypto and AI industries to invest in new sources of clean energy,” the lawmaker stated.
To protect low-income households, 25% of the revenue generated from emissions penalties will offset energy costs. The rest will fund grants supporting long-duration storage and clean power generation projects.
Following this rapid adoption rate, the report forecast that renewables could support over 70% of mining activities by 2030, driven by cost efficiency, evolving policies, and a broader shift toward sustainable practices
Worldcoin is redefining how digital identity is developed by centering on the human iris as its primary biometric. However, in doing so, Sam Altman’s company, which now goes by simply as World, has drawn scrutiny from individuals and governments alike.
According to Shady El Damaty, CEO of Holonym and expert in zero-knowledge cryptography, the World Network’s centralized infrastructure makes it particularly vulnerable to data leaks and exploitation. Given the project’s global reach, the consequences of such breaches can prove catastrophic.
A Universal Digital Identity
With artificial intelligence continually blurring the lines between humanity and technology, Altman’s most recent project has taken the concept to the next level.
World, an initiative the OpenAI CEO launched in July 2023, has a bold objective: to scan every eye on Earth and forge a universal digital identity for humanity.
At its heart lies the World ID, a privacy-preserving digital identity generated through a unique biometric scan of a user’s iris, referred to as “the Orb.”
“Worldcoin is the very first example of a company… that has the explicit mission of documenting every single person in the world with a cryptographically immutable link between a cryptographic hash of your eye and… your biometrics,” El Damaty told BeInCrypto.
In exchange for this biometric verification, users receive WLD tokens, World’s native cryptocurrency. These tokens serve as both an incentive and a fundamental component of participating in this global network.
The initiative is undoubtedly innovative. However, it’s also tremendously risky.
Why the Iris? Unpacking World Network’s Biometric Choice
Unsurprisingly, World’s launch has been received with skepticism.
While users have generally grown comfortable with biometric authentication, such as fingerprints for passport scans or Face ID to unlock smartphones, the prospect of having one’s eyeballs scanned to create a digital identity has elevated the feeling of living in a simulated reality.
“[World] settled on… the iris, which has enough entropy within it that it’s really difficult to brute force. They could have gone with fingerprints, but they didn’t because these can be very easily modified; they can be burnt off, or you could use different fingerprints. Whereas for eyes, they are very difficult to change,” El Damaty explained.
The reason behind World’s decision to use such a specific biometric is in line with its stated purpose.
As artificial intelligence continues to develop at a rapid pace, this initiative is a way to provide a trust layer for the world post-AI.
Orbs are available in 46 countries. Find one near you, and join the real human network today. pic.twitter.com/5K4aSbvDwT
This mission is often framed as creating “proof of personhood” in an era when distinguishing real humans from AI bots will become increasingly complicated.
“In the future, it might be really difficult to know who you’re interacting with, maybe both in the digital world as well as the physical world as robotics and automation continues to improve,” El Damaty added, noting, “With OpenAI, I think they really quickly realized that the most valuable commodity in the world isn’t going to be a currency or some hard asset, but it’s going to be authenticity.”
Though the cause may seem noble enough, the way World Network has decided to go about it has drawn scrutiny. Part of it stems from a fundamental disagreement on what digital identity should entail, leading to a philosophical divide.
Monolithic vs. Pluralistic Identity Systems
Worldcoin’s “one iris scan belongs to one identity” system embodies a monolithic identity. Experts often criticize such an approach for heightened security risks.
In a recent blog post, Ethereum co-founder Vitalik Buterin warned that such a singular, universally linked identity risks online privacy and individual freedom. He expressed concern that even with advanced privacy tools, a one-identity-per-person property brings several security risks.
“That’s the real risk. If someone takes a picture of your eyes, can they use all publicly available information, or maybe even dark web information, to identify who you are and what you’ve done on-chain,” El Damaty told BeInCrypto.
This approach also contrasts with the cypherpunk ethos that birthed Bitcoin, which emphasizes anonymity. Critics argue that World represents a significant philosophical shift away from this privacy-first tradition by permanently labeling individuals.
A specific point of concern for Buterin and others is World’s nullifier. This cryptographic mechanism ensures that each person signs up only once. However, its very function also presents a significant vulnerability.
“As soon as your nullifier is given up… all of the accounts that you have linked to that nullifier are also given up… it could be the foundation of a really massive data leak,” El Damaty warned.
In response to these risks, El Damaty advocates for pluralistic identity systems with multiple online identities for different purposes. This protects sensitive real-world information from being inextricably linked to a single, globally unique ID.
“Those iris codes shouldn’t be linked to the same amount of information that can be used to access your voting record or your social security benefits or other really critical information that, if ever given up, would undermine your status as a person in the real world,” he added.
This tension also forms the backdrop for World’s direct conflict with national governments.
Could Worldcoin Data Become a Government Honeypot?
World Network’s global scope directly challenges national sovereignty, especially a state’s right to define its citizens’ identity. This raises a critical question: What if foreign governments demand access to their citizens’ biometric data collected by this company?
Tools for Humanity, World’s parent company, might use its distributed infrastructure as a defense, claiming data resides in various nations. However, El Damaty believes this defense is precarious.
“[World] also ha[s] infrastructure in the United States that’s going to be beholden to the US government’s authority. The US can come in and say, ‘hey, we’re going to pull the plug and put your executives in jail if you don’t hand over all of the logs that are coming from this central server that’s responsible for coordinating the entire network.’”
This vulnerability transforms World’s vast biometric database into a potential honeypot for governments. El Damaty pointed to precedents like the 2018 CLOUD Act, which allows US law enforcement to compel US-based tech companies to provide data, even if stored overseas.
Many nations have not waited for such hypothetical scenarios to play out, leading to immediate and forceful regulatory action.
Countries like Spain, Portugal, Kenya, and Indonesia have either imposed bans or initiated investigations into World’s operations, citing concerns over data handling, transparency, and age verification.
El Damaty highlighted a crucial transparency issue. As a private company, World’s financial and operational details aren’t fully open for public scrutiny. This, he suggested, enables them to strategically control how they present their activities to the world.
This opaqueness contributes to existing global skepticism.
“I don’t think governments are going to suddenly turn overnight and say, ‘okay, well, we’re going to let this American company [from] Silicon Valley run by one of the world’s most powerful people to track all of our citizens and give them their crypto tokens,’” El Damaty said.
Without detailed clarity, many nations remain wary of entrusting such fundamental identity information to a private entity perceived to be operating outside established legal and ethical norms.
