Moonchain’s native token, MXC, has experienced a significant surge of up to 247% recently, driven by the reactivation of its mining program and a series of updates within its ecosystem. This surge has propelled MXC to an intraday high of $0.00525 on May 29, pushing its market cap above $11.6 million. The token has seen a remarkable 675% increase from its lowest point this year, making it one of the most substantial moves in 2025.
Trading activity surrounding MXC has also spiked, with daily volume increasing by over 500% compared to the previous day, reaching nearly $22.5 million. This surge in trading activity signifies a renewed interest and momentum in MXC within the cryptocurrency market.
Three primary catalysts have been identified as the driving forces behind MXC’s recent breakout. Firstly, the Moonchain team has officially reactivated MXC mining on its network using MatchX’s M2 Pro and NEO miners. This reactivation followed a temporary outage on May 21 and was supported by a community poll where the majority voted in favor of resuming mining activities.
Secondly, Moonchain has teased the upcoming launch of its Initial Hardware Offering (IHO). This campaign will distribute free physical mining devices, possibly wearable technology, to Moonchain token holders through an Ethereum smart contract. The IHO will also include health-based mining devices and limited-edition high-hash-rate models to reward early token lock-up participants.
Additionally, Moonchain has recently integrated with OKX Wallet, a prominent multi-chain wallet in the Web3 space. This integration enables users to access Moonchain’s dApps, staking features, and token tools across various platforms, enhancing user engagement within the ecosystem.
Moonchain is a Layer 3 blockchain platform that integrates AI, IoT, and DePIN (Decentralized Physical Infrastructure Networks). MXC serves as the native token for transactions within the network, supports an inter-chain NFT marketplace, and rewards participants through its energy-efficient Proof of Participation model. The project is also leveraging Ethereum’s Layer 2 technology to enhance compatibility with existing Ethereum-based applications, making it an attractive option for developers working on real-world use cases.
From a technical standpoint, MXC has broken out of a descending channel, suggesting a potential new uptrend. Momentum indicators support this bullish outlook, with the MACD lines crossing upward and the Relative Strength Index in the overbought zone. However, overbought conditions may lead to short-term selling pressure as traders look to lock in profits.
Looking ahead, if MXC continues its upward trajectory, the next target could be around $0.0061. Conversely, a drop below the $0.0030 support level could signal a further decline towards the $0.00060 range, which currently acts as a psychological support zone.
It is important to note that this article does not constitute investment advice and is intended for educational purposes only. As always, individuals should conduct their own research and due diligence before making any investment decisions.