Price Analysis

ICON Price Analysis: Will ICON (ICX) Live Up To Its Hype?

eToro

As an ambitious project to create the decentralized network, ICON really stood out in the world of cryptocurrency.

This gigantic South Korean project, using innovative technology offered a fully working product that is being used by large Korean institutes like universities, life insurance companies, and government departments.

eToro Crypto

According to the news in 2018, the MOU was signed between ICON-LOOP and Samsung Electronics where electronic giant pledged to use chain ID for Samsung pass.

All this gave colossal hype to ICON in the previous year, and everyone had enormous expectations. The currency was a strongly on Bear Run until it took the long-drawn-out straight plunge in 2018. The team disappointed their supporters and investors with a lack of delivery of the promise and poor communication skills.

This mistake badly affected the performance of the currency.

ICX Price Analysis:

ICON price chart - may 29

The current trading value of the coin is 0.3923848 USD, and the BTC value is 0.00004566. The current market cap for the same is 185,093,113 USD, with the 24h volume of 18,097,655 USD. This chart gives us details of the beginning of the year, where coin price was merely 0.239569 USD with market cap 113,413,627 USD. After a massive downfall of last year, ICON seems to be making a slow but steady recovery this year. With corrective structure ending by 95%, it seems to be ready for the new cycle. Hence crypto analysts are strongly suggesting buying and holding the currency right now for the better outcomes.

ICX Price Prediction:

So will ICON live up to its heightened expectations? We don’t know for sure.

In the aftermath of downfall and inactivity, the team of ICON seems to handle the situation in a well manner and decided to rectify the mistakes. To do so, they have started by providing regular technical and business updates. They also have presented an ambitious roadmap for their current and future activities.

To avoid delays in deliveries and increase the transparency of future projects, this roadmap is divided into three different sections: Governance, Block-chain technology, and services based on ICON. They also managed to form some decent partnerships with financial organizations and institutions.

It will be interesting to see the team making constant hard efforts to keep the promise. With huge accountability and willingness to take responsibility for the promised work, the ICON team still has a chance to thrive and flourish in the market.

Conclusion:

ICON has had a very roller-coaster ride since inception. Crypto analysts are looking forward to it as it shows potential to reach great heights in the coming future.

This is the currency that has been able to display major turnarounds in the past. If the ICON team is able to deliver the roadmap as per their promise, then this cryptocurrency will see a new boom.  Hence hoping for the best, it is not a bad idea to invest in this one to yield attractive profit in the long term.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button