In his latest YouTube video, Lee The Captain shared his insights on the potential of Onyxcoin (XCN) in the next market cycle. He compared XCN to other well-known cryptocurrencies like XRP and XLM, explaining why he believes XCN could be a surprise breakout.
Current Market Situation
Lee The Captain noted that the current quiet phase in the crypto market is reminiscent of early 2021, when the market appeared calm before coins like Dogecoin started to surge. He believes that this lull could be a precursor to a new rally.
Role of Goliath Testnet
A key point of discussion in the video was the Goliath testnet, which the XCN team plans to launch in Q3. This Layer 1 blockchain is targeted at the finance sector and could serve as a catalyst for growth, especially if its launch coincides with favorable market conditions.
Growth Potential of Onyxcoin
Currently, XCN's price is far from the $1 target, but Lee sees this as an opportunity for growth. He noted that if XCN reaches this mark, its market cap would be around $32.5 billion—still lower than historical peaks of Dogecoin and Shiba Inu. Additionally, XCN faces little competition, and Lee anticipates altcoins' peak around 18 months after Bitcoin's last halving.
Lee The Captain continues to bet on XCN's growth, sticking with his $1 target. In the meantime, he plans to dollar-cost average and wait patiently.
