Onyxcoin (XCN), the native token of the web3 protocols ecosystem Onyx, is experiencing the downside pressure that currently engulfs the broader crypto market. Celestia is among the altcoins to see 24-hour losses.

As of writing, XCN is trading at $0.01538, with a 24-hour trading volume of over $38 million.

While the market cap has dipped to $527 million, the slight uptick in daily volume indicates a notable level of market interest.

Onyx eyes traction with V2 ahead of CLARITY law

The Onyx ecosystem is gearing up for a significant upgrade with the impending launch of Onyx V2, aimed at enhancing compliance and functionality.

According to a recent announcement by OnyxDAO on X, the launch of Onyx V2 is designed to meet the highest compliance standards under the United States’ crypto markets regulation CLARITY Act.

Onyx V2 is coming @OnyxDAO‘s launch aims to meet the highest compliance standards under the upcoming U.S. CLARITY Act, positioning $XCN as a Digital Commodity Token within a Mature Blockchain System. pic.twitter.com/4avN6ByWIg

— Onyx (@OnyxDAO) July 24, 2025

The CLARITY Act, formally known as H.R. 3633, aims to provide a clear regulatory framework for digital assets by distinguishing between digital commodities, securities-like assets, and stablecoins.

As Onyx notes in its post on X, the V2 rollout will position XCN “as a Digital Commodity Token within a Mature Blockchain System.”

Potentially, this means broadening the project’s appeal to institutional investors amid broader regulatory compliance.

Onyx has cautioned the community that there will be no token swaps, with users asked to beware of scams and fake airdrops.

Onyxcoin price outlook

The anticipation surrounding Onyx V2 could spark considerable interest in XCN, hence catalyzing an upward flip.

Among market outlook indicators traders are watching to gauge potential price movements is open interest.

While XCN derivatives have seen a slight decrease in OI, the weighted funding rate remains positive. Derivatives volume, which reflects trading activity in futures and options, has also fallen 14% to around $25 million.

From a technical point of view, indicators on the daily chart further support a short term bearish strength.

The Relative Strength Index (RSI) for XCN is currently at 43, not yet oversold. However, it is downsloping to suggest sellers could gain momentum.

Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bearish crossover, with the MACD line crossing below the signal line. XCN price is also near the support line of a falling wedge, and a drop could extend losses.

Interestingly, Onyxcoin is down 19% over the past week and has pared most of the gains seen when price jumped to highs of $0.02 in mid-July.

XCN is nonetheless more than 914% up in the past year. While this suggests a bullish trend amidst broader market volatility, price is near a critical support level.

The post XCN price forecast: will bulls rally ahead of Onyx V2 launch? appeared first on CoinJournal.

XCN price forecast: will bulls rally ahead of Onyx V2 launch?

Source: https://coinjournal.net/news/xcn-price-forecast-will-bulls-rally-ahead-of-onyx-v2-launch/

The U.S. Securities and Exchange Commission (SEC) has approved the conversion of Grayscale’s Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF).

GDLC is a fund that holds mega cap cryptocurrencies Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA).

SEC’s approval, announced in a filing on Tuesday, marks a significant milestone for cryptocurrency investment products, particularly as investors eye further spot ETF nods from the regulator.

SEC approved Grayscale’s large-cap fund to convert into a spot ETF

This decision, announced on July 1, 2025, speaks to the SEC’s growing acceptance of regulated cryptocurrency investment products and investor’s quest for exposure.

Greenlight for Grayscale’s digital large-cap fund adds to the available spot ETFs in the US, notably spot Bitcoin and Ethereum ETFs that the regulator approved in 2024.

With this development, Grayscale’s fund will now trade on the NYSE Arca. The final deadline for SEC to either approve or reject the application was July 2, 2025.

“Approval was our expectation. The fund is over 90% Bitcoin and Ethereum. The next big date is Bitwise’s BITW deadline of July 31,” Bloomberg ETF analyst James Seyffart said. “But SEC could obviously go early.”

The newly approved ETF will include a basket of major cryptocurrencies, comprising Bitcoin (79.4%), Ethereum (11.6%), XRP (4.8%), Solana (2.9%), and Cardano (0.8%), mirroring the fund’s current holdings.

Grayscale initially filed for this conversion on April 1, 2025, proposing a spot ETF structure to provide investors with direct exposure to these assets.

Following regulatory feedback, the company submitted an amended filing on June 30, 2025, with the SEC setting a final decision deadline of July 2, 2025. The approval order, released today, confirms the fund’s eligibility to list and trade shares, a process finalized ahead of schedule, highlighting the SEC’s streamlined approach to this application.

Experts say SEC will soon approve multiple crypto spot ETFs

Industry analysts anticipate that the SEC’s approval of Grayscale’s ETF signals the imminent approval of additional crypto spot ETFs.

Recently, Bloomberg ETF analyst Eric Balchunas highlighted the SEC’s imminent approvals. He pointed to the no further comments scenario around REX and Osprey Funds’ filings for a staked Solana (SOL) ETF as notable. That spot ETF, expected to launch on July 3, offers yield-generating staking features and is the first staked crypto ETF in the U.S.

SEC has recently delayed decisions on multiple spot crypto ETFs, including for XRP and SOL.

The post SEC approves Grayscale’s conversion of BTC, ETH, SOL, XRP fund into an ETF appeared first on CoinJournal.

SEC approves Grayscale’s conversion of BTC, ETH, SOL, XRP fund into an ETF

Source: https://coinjournal.net/news/sec-approves-grayscales-conversion-of-btc-eth-sol-xrp-fund-into-an-etf/

Ripple has announced that the company recently secured key money transmitter licenses in the United States.

In an update on Monday, Jan. 27, Ripple said it had received Money Transmitter Licenses (MTLs) in New York and Texas. This brings the total number of MTLs the crypto company has secured to more than 50, it noted.

Ripple gets NY, Texas licenses

Importantly, the latest two US states where Ripple has notched the approvals make up two of the locations where it has registered massive growth in payments adoption. This includes across both major banks and crypto businesses.

The MTLs will allow Ripple to expand its services and products in New York and Texas. XRP creator Ripple plans to integrate its stablecoin RLUSD into these payment services.

“We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient and 24/7 cross-border payments. With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies who are ready to take advantage of the current landscape,” Joanie Xie, Ripple’s managing director of North America said.

As well as the over 50 MTLs that Ripple has secured across its payments, custody and stablecoin offerings, there’s also a BitLicense from the New Department of Financial Services, a Major Payment Institution License issued by the Monetary Authority of Singapore and VASPs from Ireland and the Cayman Islands.

Ripple’s milestone in the US comes as the digital assets space in the country records a turnaround amid fresh support from the pro-crypto Trump administration.

The Securities and Exchange Commission (SEC) under acting chair Mark Uyeda recently unveiled a crypto task force. The SEC also rescinded the controversial SAB 121.

The post Ripple secures money transmitter licenses in New York and Texas appeared first on CoinJournal.

Ripple secures money transmitter licenses in New York and Texas

Source: https://coinjournal.net/news/ripple-secures-money-transmitter-licenses-in-new-york-and-texas/

The US Securities and Exchange Commission (SEC) has sued Consensys, the Ethereum developer and software provider.

On Friday, June 28, the SEC filed a lawsuit against the company alleging Consensys has operated an unregistered broker dealer and offered unregistered securities. The regulator’s complaint is also about MetaMasks services – crypto swaps and staking.

“Consensys violated the federal securities laws by failing to register as a broker and failing to register the offer and sale of certain securities, thereby depriving investors of crucial protections that those laws afford,” the SEC alleged in the filing.

SEC highlights Lido, Rocket Pool staking

The SEC notes in the complaint filed at the United States District Court Eastern District Of New York that the MetaMask Swaps service has operated since October 2020, while Consensys has offered staking programs via the crypto wallet and platform since January 2023.

“By its conduct as an unregistered broker, Consensys has collected over $250 million in fees,” the SEC argues.

The lawsuit mentions Polygon (MATIC), Chiliz (CHZ), the Sandbox (SAND), Mana (MANA), and Luna (LUNA) as some of the securities.

SEC alleges that Lido (LDO) and Rocket Pool (RPL) staking programs are “investment contracts and, therefore, securities.”

According to the regulator, investors using the protocols expect profits with this coming from Lido and Rocket Pool’s managerial efforts. But Lido and Rocket Pool have both not registered with the SEC.

Today’s news comes a few days after Consensys said the SEC had ended its investigation into Ethereum 2.0. Consensys sued the regulator in April seeking clarification over Ethereum.

Notably, SEC approved spot Ethereum ETFs in May.

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SEC files lawsuit against Consensys

Binance CEO Changpeng ‘CZ’ Zhao has rejected the allegations made by Commodity Futures Trading Commission (CFTC) against Binance and himself in the March 27 lawsuit.

On March 27, the US CFTC issued a 74-page complaint labelling Bitcoin (BTC), Ethereum (ETH), Binance USD (BUSD), Litecoin (LTC), and Tether (USDT) as commodities and also accused Binance and Changpeng Zhao of market manipulation and lack of compliance.

CFTC has also accused Binance of not cooperating with the investigative subpoenas while also obscuring the location of its executive offices.

CZ calls CFTC’s claims incomplete recitation of facts

Binance’s CEO published a blog post arguing that the cryptocurrency exchange:

“Binance.com does not trade for profit or “manipulate” the market under any circumstances. Binance “trades” in a number of situations. Our revenues are in crypto. We do need to convert them from time-to-time to cover expenses in fiat or other crypto currencies. We have affiliates that provide liquidity for less liquid pairs. These affiliates are monitored specifically not to have large profits.”

In the lawsuit, the CFTC has accused Binance of trading on its own platform using 300 “house accounts” without properly disclosing the information to its customers in its Terms of Use. The CFTC says that the exchange has instead kept the information as a “top secret” and even refused to respond to the commission-issued investigative subpoenas looking for information about the said trading activity.

CZ also went ahead to disclose that he has two accounts with Binance: one for the card and one for crypto holding. He says in the blog post:

“Personally, I have two accounts at Binance: one for Binance Card, one for my crypto holdings. I eat our own dog food and store my crypto on Binance.com. I also need to convert crypto from time-to-time to pay for my personal expenses or for the Card.”

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Binance’s CZ refutes CFTC’s claims of improper compliance procedures and trading

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