🌎 MXC Token Soars 247% Amid Mining Revival and Ecosystem Updates

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MXC, the native token of the Layer 3 blockchain platform Moonchain, recently skyrocketed by as much as 247%, fueled by the reactivation of its mining program and a series of ecosystem updates.

According to market data, MXC reached an intraday high of $0.00525 on the morning of May 29, pushing its market capitalization to over $11.6 million. The token has surged 675% from its lowest point earlier this year, making it one of the strongest performers in 2025 to date. Additionally, MXC saw a significant increase in trading activity, with daily volume jumping over 500% to nearly $22.5 million, signaling a surge in investor interest.

Why Is MXC Rallying?

Several key factors are driving MXC’s impressive price breakout:

1. Reactivation of MXC Mining

The Moonchain team officially resumed MXC mining on its network using MatchX’s M2 Pro and NEO miners after a temporary suspension on May 21. This decision followed a community poll conducted by MatchX on May 19, where an overwhelming 97.9% of participants voted in favor of reactivation.

MatchX, a German technology company, develops low-energy mining hardware specifically designed for the Moonchain ecosystem. These devices help power Moonchain’s decentralized data infrastructure while enabling users to earn MXC through its energy-efficient Proof of Participation (PoP) consensus model.

2. Initial Hardware Offering (IHO)

Moonchain is preparing to launch its Initial Hardware Offering (IHO), as outlined in its Q2 2025 roadmap. This initiative will distribute free physical mining devices to token holders via Ethereum smart contracts. Potential devices include wearables like smartwatches or rings, as well as limited-edition high-hash-rate models aimed at incentivizing early token lock-ups.

The IHO also includes plans for health-based mining devices, with distribution hubs being established in strategic regions to ensure timely delivery to participants.

3. Integration with OKX Wallet

Moonchain recently completed its integration with OKX Wallet, a leading multi-chain Web3 wallet. This integration enables users to seamlessly access Moonchain’s decentralized applications (dApps), staking features, and token tools across mobile, browser, and Telegram platforms. With support for over 1,000 protocols, OKX Wallet enhances accessibility for both new and existing users within the Moonchain ecosystem.

What Is Moonchain?

Moonchain is a Layer 3 blockchain platform that combines AI, IoT, and DePIN (Decentralized Physical Infrastructure Networks) to create a robust ecosystem. Its native token, MXC, serves multiple purposes, including facilitating transactions, powering an inter-chain NFT marketplace, and rewarding participants through its environmentally friendly Proof of Participation model.

The platform also features MXProtocol and leverages Ethereum’s Layer 2 technology, including its own zkEVM, to enhance interoperability with Ethereum-based applications. This makes Moonchain an attractive choice for developers working on real-world use cases, particularly in IoT and data-sharing networks.

MXC Price Outlook

From a technical perspective, MXC has broken out of a multi-month descending channel, which often signals the beginning of a potential uptrend. The token recently held above the 61.8% Fibonacci retracement level at $0.0048 before consolidating around $0.0041.

Momentum indicators further support a bullish outlook. The MACD lines have crossed upward, and the Relative Strength Index (RSI) remains in the overbought zone, reflecting strong buyer interest and sustained momentum. However, overbought conditions could also trigger short-term selling pressure as traders lock in profits.

If the rally continues, the next key resistance level for MXC is $0.0061, which it previously failed to breach. On the downside, a drop below the $0.0030 support could lead to further declines, with $0.00060 acting as a psychological support zone.