South Korean Cryptocurrency ICON (ICX) Is Gaining Momentum

South Korea is quietly producing some of the more interesting digital currencies to emerge in the space. One such digital coin is ICON (ICX) and developers have positioned the coin in a very unique and functional way.

ICX, according to the remit set by founders, is aimed at developing a hyper-connected ecosystem that will allow all digital coins to share information regardless of the underlying scripting language used to code each coin. It’s an ambitious proposition but ICX seems top have a grasp of how they plan to achieve the aim.

Since launching a few months ago, ICX’s biggest feature which is the ability to store digital tokens across various platforms has taken off. In a short time the digital currency has attracted the interest of not just users, but also the full attention of traders and investors.

The uptake by traders and investors has been nothing short of spectacular and after idling at the lower levels below $1 the digital token quickly asserted itself. By November 6, 2017, the token achieved its first major spike, reaching a level of $1.78. The achievement was surpassed on December 16 when ICX reached a high of $2.74. Again this spike didn’t last very long before ICX eclipsed it. By December 26 traders were looking at token priced at $6.12.

This was a meteoric rise and although at the time of the big spike many suggested it might be due to the general demand for digital tokens; ICX quickly showed that this wasn’t the case. The bulk of the sell-off in digital tokens happened well before December 21. Yet ICX was peaking well after this date. Aside from the big jump to $6.12 on December 26, ICX continued its push well into the New Year. On January 9 it achieved its highest price yet, hitting $11.66.

Since achieving those highs there has been a pullback, an extensive one in actual fact. But this doesn’t mean that ICX isn’t still one of the more popular digital tokens out there. Recent trading has helped to confirm this in some ways. The token is up 21.94% in trading on Tuesday and the 24-hour volume has now reached $49,471,000. Market cap is a respectable $1.056B, one of the highest market caps for tokens younger than 12 months. ICX has now climbed to reach number 23 on the popular coin ranking website Coinranking.com. ICX is definitely one of the more interesting coins to watch as digital currencies take their next step towards becoming mainstream.

 

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