As the market cap of ICON (ICX) approaches $253,882,911, and the trading volume over the last 24 hours has been $12,944,642, it is probably going to break the previous high. As a result, ICON (ICX) is currently ranked #106 in the world of cryptocurrencies. This crypto has proven its track record over the years, progressing beyond the initial concept over time. Let’s dig deep into the matter.
ICON Coin Overview
| Cryptocurrency | ICON |
| Ticker Symbol | ICX |
| Price | $0.2762 |
| Price Change 24H | -7.81% |
| Price Change 7D | -1.71% |
| Market Cap | $253,882,911 |
| Circulating Supply | 919,483,096.00 ICX |
| Trading Volume | $12,946,982.83 |
| All-Time High | $12.64 |
| All-Time Low | $0.1069 |
| ICON ROI | -32.44% |
The Overview of ICON Network & ICX token
By using a public ledger, the network tracks all transactions using blockchain technology. Choosing the right cryptocurrency has become challenging due to the abundance of cryptocurrencies available.
As more coin projects emerge, they use different tokens and algorithms. It’s becoming too complicated, but there was a solution introduced in 2017. ICON was used to connect several blockchain platforms using a dedicated communication protocol.
In the ICON crypto network, many functions must be executed using only its native ICX currency, which makes it unique. The team is aggressively pushing itself to create the largest decentralized network in the world.
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ICON (ICX) Vision
This project aims to build a decentralized network that will allow independent blockchains with different governments to transact without the involvement of intermediaries. Because of the blockchain’s high throughput, the system is ultra-fast without sacrificing quality or reliability.
Bitcoin was designed specifically for transactions, not smart contracts, which is why alternatives to Bitcoin appeared on the market. In order to fill this gap, Ethereum and other alternatives emerged on the market. In spite of the rise of cryptos, all these blockchains remained isolated, unable to communicate with one another.
ICON aimed to target this with its Blockchain Transmission Protocol, which offers interoperability as a core feature. Additionally, it allows protocols to communicate with one another by providing smart contracts and value transfer services. Third-generation protocols such as ICON feature lightning-fast throughput speeds compared to second-generation protocols.
ICON (ICX) Workings
An ICON network is governed by a comprehensive governance system that lets users decide how the network should operate. The two main components of this governance are P-Reps, or Public Representatives, and ICONists.
The most productive P-Reps in the ICON republic will receive a high stake reward for delegating their ICX. The P-Rep is one of the nodes that are responsible for securing the ICON network and adding value to it.
The most effective P-Reps can reach a consensus on ICON network changes through voting.
The ICON ecosystem brings in talented P-Reps to the network, allowing them to make changes that align with their sentiments and goals. Therefore, it works similarly to democracy in real life.
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ICON Market Sentiment
ICON is a rapidly growing project with a strong presence in South Korea. ICONLOOP, its key development partner, received the Ministry of Science and ICT Award for popularizing the blockchain sector in Korea. ICONLOOP has also partnered with industry giants and government entities. It employs over 140 people and is one of the largest blockchain companies in South Korea.
Currently, the transaction fee is 0.01 ICX per transaction, although it will be charged in accordance with a fee structure. Using applications like Balanced and Omm, we can see how it is trying to create an ecosystem that nurtures itself as it grows. It offers the following dApps and what they accomplish::
Balanced:
ICX holders can borrow, swap assets, and supply liquidity there. With ICX as its token and the ICON network as its infrastructure, it functions as a decentralized bank.
Omm:
This is a money market where anyone can supply assets to earn interest, borrow assets for short-term loans, and make OMM for doing so. The OMM allows users to stake their stakes and vote on the future of the platform. Smart contracts are used to operate the system, which is decentralized.
VisitMe:
It is a blockchain-based solution for managing visitors. The system is already being used to track visitors in Korea, with more than 200 thousand users. The system is used in major hotels, cafes, and public places.
Broof:
Korea is currently using another blockchain technology. This is a certificate issuance system based on the ICON protocol. Major Korean universities and corporations use it.
There is no doubt that technologies that are rapidly evolving and solving problems can integrate into society. ICON has actually proven to be an extremely useful tool that can be used anywhere. For the time being, the sentiment surrounding this token is quite positive due to the strong government support. ICX price will reach further highs as a result of the strong upward price trajectory.
ICON Coin Technical Analysis
Despite approaching its 52-week high, ICON is forming a consolidation near its breakout. The pattern reminds me more of a cup with a handle, so that’s a good thing. With little spikes in volume, the Bollinger bands are also opening up, indicating an increase in volatility.
The ICX/USD price appears to be relatively stable at this range, which indicates that the ICON price may break out soon. In September, a massive spike in volume was observed, further confirming the ICX price action. The market believes that ICON’s current price is undervalued, which is good for technical analysis. As the volatility is non-existent right now, investing in ICX and staying invested is a safe bet for the long term, based on our short-term cryptocurrency forecast.
As we look at the historical highs for ICON, we can see that this price is nowhere near the previous maximum when ICON’s price rose and skyrocketed. There is a substantial difference between the average price of ICON cryptocurrency and the 50-day moving average. Since the RSI indicator is showing overbought conditions, it is easy to understand why the RSI indicator is indicating that ICON should be sold.
It must be noted, however, that RSI works well when there is no long upward trendline expected. Combining the consolidation with the accumulation rising and the investor sentiment shown with the volume price action in September, it is a good time to go long on ICON cryptocurrency and wait until some resistance levels are formed.
ICX Price Predictions from 2022 to 2026
Let’s explore the past data and try finding some valuable price forecast insights to see the likelihood that the ICON price will continue to go. Over the long term, it is safe to say that the average price of ICON ICX will breach its 52-week high in 2022, according to the short-term price predictions.
ICON is one of the cryptocurrencies that holds the potential to reflect a tremendous price rise by the end of 2022. The team behind ICON (ICX) is working continuously for overall development. New collaborations and deals, along with technological advancements, can influence the average price of ICX coins. As per our ICON price prediction for 2022, the expected highest price of ICX/USD will be around $1.11.
ICON (ICX) Price Prediction 2022
Along with the crypto market, the future price of ICON will continue to increase. However, there’s a slight possibility of a downside correction as per our technical analysis. The minimum price will be expected to be around $0.96. Buyers should do their own research and track ICON price predictions before investing in ICON.
ICON Price Prediction 2023
By 2023, the predicted price of the ICX coin might be trading around $1.32. Taking into account the massive return over the course of two years. As South Korea is already using this technology, governments will seek solutions in the markets, and because of the public demand, the ICX may reflect a positive price change as per the other forecasts.
ICON Price Prediction 2024
As per the ICON forecast and price analysis, in 2024, the future of ICON will be bright, and the predicted price may reach a minimum level of $0.96. The trading price of the ICX coin can reach a maximum level of its next resistance level, around $1.39 with an average trading price of $1.16. There is a significant risk involved in crypto trading, but still, users can invest/trade in ICX at the current price levels for a good return in the long term.
ICON Price Prediction 2025
By 2025, with government support and assuming that ICON technology becomes a new addition to the Korean economy, the price will likely go upwards, even beyond its previous all-time high. It will reach $1.69, maintaining a positive outlook.
It should be noted that external factors that an investor might not ponder over can have a huge impact on the ICON price forecast for coming years. The investors must do their own research, get good investment advice, and understand the ICON price forecast before going in for a long position, having a bullish mindset.
ICON (ICX) Price Prediction 2026
Based on ICX price prediction, ICON will be a good long-term investment in the cryptocurrency market. Based on our predictions, ICON prices might record a bullish breakout. Furthermore, the development in the ecosystem will increase the performance and the market reach as well as per our price analysis and forecast data. As per the price forecast data, the ICX prices might breach the $1.52 mark in 2026.
Frequently Asked Questions
Is ICON a good investment?
Based on our ICON technical analysis and future price prediction data, ICON is a good investment option. The ICX/USD chart pattern indicates that there’s a massive price change brewing up ahead. If the breakout happens in the upward direction, there is a great chance that the ICX value may never come back and will stay in an uptrend for the near term.
Where to buy ICON (ICX)?
Traders and investors can buy ICON from the leading crypto exchanges like Upbit, Binance, OKEx, Huobi Global, etc.
Is ICON (ICX) safe?
Without getting all technical, from an investor’s perspective, ICON is safe and can be a profitable investment. With a bright future; and a dedicated and strong development team in Korea, it offers good prospects.
What will ICON (ICX) price be worth in 2030?
According to the ICX price forecast data, the crypto value might cross the $3.73 mark by 2030 as it has the long-term potential to reach new heights.
Is ICON a better investment than Ethereum?
In terms of technology, they compete with each other very strongly, but in terms of investment, ICON is far behind Ethereum; last year, Ethereum’s Annualized ROI was 404.21%, and ICON was 171.71%. You can check Ethereum price prediction here for more details.
