ACX Price Spikes 75% as Trading Volume Hits $180M — Here’s the Token-to-Equity Bombshell Behind Across Protocol’s Explosion

Across Protocol’s native token, ACX, has jumped by 75% over the past 24 hours. This performance made it the top-performing asset among the top 100 cryptocurrencies.

The token climbed from a consolidation zone near $0.034 to $0.071, its highest level in nearly six months.

But here is the thing: this rally is not about hype.

It is about a governance proposal so structurally bold that it is forcing the entire crypto industry to rethink how decentralised protocols can evolve into institutionally viable businesses.

Here is a breakdown of how the surge happened, and what could be next for the Across Protocol crypto.

The Proposal Could Change Everything

According to CCN’s findings, Risk Labs, the core development team behind Across Protocol, submitted a landmark governance proposal.

The proposal is straightforward in concept. However, the implications could be revolutionary, as it aims to transition from a Decentralized Autonomous Organization (DAO) structure to a registered U.S. C-Corporation called AcrossCo.

Specifically, the proposal offers ACX holders a direct 1:1 equity swap. Every token converts into a share of the new company at an equal ratio.

Furthermore, holders who prefer not to make the transition receive a buyout at $0.04375 per ACX, paid in USDC.

“Holders with >5M ACX will be able to convert to equity directly. Holders with <5M ACX would be able to exchange for equity via a no-fee SPV structure, subject to a minimum exchange size (currently targeting 250k ACX, or approx. ~$10k) for legal and administration practicalities,” The proposal stated.

That buyout price represented a 25% premium over the 30-day average at the time of the announcement, effectively establishing a hard price floor that de-risks the downside for every current holder immediately.

The market understood the implications instantly. Within hours, ACX’s price printed some of the most aggressive candles.

As shown in the 4-hour chart above, the altcoin broke above the resistance line of a descending triangle, which it has been trapped in for a while.

Why Else Is Across Protocol Token Rising?

The reaction makes complete sense once you understand what has been holding back DeFi protocols.

DAOs are powerful governance structures. However, they cannot sign enforceable legal contracts or establish formal institutional partnerships.

So, by transitioning to a C-Corporation structure, Across Protocol resolves that bottleneck in a single move.

Furthermore, research-driven investment firm Paradigm’s backing makes this transition even more significant.

Amid this, the crypto’s trading volume exploded to 181.79 million,  dwarfing every prior one on the chart.

The largest prior spike was roughly 23 million in mid-October. Today’s is approximately 8x that.

While ACX’s price has retraced a bit, the rise in trading volume might not back the downtrend, especially as the correction is not extreme.

Therefore, in the short to mid-term, the cryptocurrency’s value will likely trade higher.

Additionally, the price-Daily Active Addresses (DAA) divergence has spiked to 285.66% today, in line with the price surge.

This suggests that network activity is rising faster than the price, which is bullish.

Across six months of chart history, the DAA bars have been consistently flat and green, hugging the baseline with minimal divergence.

So, the recent surge indicates that the ACX price breakout was organic. If sustained, it could drive the altcoin’s market value higher.

What Happens Next for ACX Price?

From a technical perspective, the daily chart shows that the ACX price has broken out.

ACX trades at $0.056. But the Supertrend at $0.0417 has flipped bullish, and the descending channel has been broken.

Structurally, the technical setup has shifted.

The RSI Divergence Indicator tells the most important story here. Three prior Bull divergence signals fired on this chart — July 2025, November 2025, and December 2025/January 2026.

All three preceded meaningful price recoveries.

No new Bull label has been printed on today’s candle yet. However, the indicator itself sits at 76.05 — the highest reading since August.

The Money Flow Index (MFI) at 98.75 is the sharpest caution flag. It’s the most extreme overbought reading on the chart by a significant margin.

Prior MFI peaks near 80 were followed by pullbacks. At 98.75, a reversion is not just possible, it’s historically probable in the near term.

However, if buying pressure increases, the first target for the Across Protocol token could be $0.079 (0.236 Fib).

But it must hold $0.0417 (Supertrend) on any pullback. On the contrary, a rise in selling pressure could invalidate this thesis.

In that scenario, the altcoin could decline toward $0.032.

What Are Analysts Saying?

In the meantime, some crypto analysts have commented on the Across Protocol proposal.

While some applauded it, others said it was not the right move. For instance, Jesse Walden, founder of Variant Fund, said the move is great for ACX token holders.

“2 types of tokens: decentralized network tokens, and app tokens meant to be like equity. Some are a bit of both. The latter works best if you’re trying to align consumers with growth. Works less well with enterprise users. This move makes sense and is good thing to do by token holders,” Walden explained.

However, pseudonymous analyst WenMoon disagrees, noting that the goal to tokenize everything might sometimes be misguided.

Still, he gave Across the benefit of the doubt.

“End of the day, a token is a tool. It should in theory provide the team a valuation boost thanks to liquidity. But if the token is hurting the projects growth, which seems to be the case for Across, then I commend them for taking that bold move since they have the cash to do it,” He noted.

About the Author

Victor Olanrewaju

Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.

With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.

He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.

In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.

At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.

He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.

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