- Icon coin (ICX) is the native currency of the Icon network, which offers interoperability across different blockchains.
- The Icon network can process hundreds of transactions per second and support smart contracts.
What is Icon coin?
Icon is a decentralized blockchain platform that is built on the strength of interoperability. Using Icon as an interoperability layer allows for a myriad of cross-chain uses.
According to its website, Icon Network is a general-purpose blockchain system whose native cryptocurrency is ICX. The platform is also capable of running smart contracts and has the capacity to process hundreds of transactions per second.
The token market capitalization is presently $1,628,027,445 with a 674,734,086.87 ICX supply out of the 800,460,000 ICX total supply currently circulating.
Is Icon coin a good investment?
The Icon coin debuted in 2017 with a price of around $0.50, and considering that it is currently trading at $2.15, it means that the asset is currently trading at a price 302% higher. Many people will probably consider this a meager return for a digital asset.
It is also worth noting that Icon coin hit an all-time high price of $12.64 in January, 2018. It also hit its all-time low of $0.1069 in January 2020. This means Icon coin is currently 501% lower than its ATH and 1,864% higher than its all-time low.
These figures show that Icon coin’s returns have been modest. However, the fact that the asset registered its ATH four years ago and its all-time low two years ago also tells that it is a more stable crypto asset compared to its peers.
Therefore, Icon coin seems to be a good investment if you intend to hold it over a long time. However, if you want to experience the optimal possibilities of profitability that come with cryptocurrencies, then there are several better alternatives to choose from in the crypto market.
Should I invest in Icon coin today?
For the period between January and September, Icon coin price has grown at an average rate of 26.23% per month. Therefore, if you had bought $1,000 worth of the asset in January, that sum would have grown to $1,295 today. That is not a bad return, but you could have earned much more by investing in other altcoins.
In our opinion, investing in Icon coin would be a good idea if you already have other “more volatile” crypto assets in your portfolio. This would ensure that you enjoy the potentially super-high profit offered by the alternative cryptos, while using Icon coin as a hedge against the potential downside.
Technical analysis for CRYPTO: ICX
Best case scenario:
ICXUSD has been trading in a range over the past two weeks, with its market momentum falling steeply between October 5th and October 17th, when the RSI fell from 68 to 51. However, over the past 3 days, the RSI has been on the rise and is currently at 56. This signals a great possibility of bullishness. With the bulls in control, they will likely push the price marginally up to meet resistance at $2.218.
Worst case scenario:
On the lower side, the current price is barely staying above the psychologically-important support level of $2.00. This makes the ICXUSD pair vulnerable to a slip-up. With a weak momentum, the first support will likely be established at 2.01, beyond which the breaching of the psychological support level could see the second support established further down at $1.39.
Will Icon coin hit $10 in a year?
As highlighted above, ICON coin has been growing at an average of 26.23%. Assuming it sustains that growth rate over the next 12 months, the token will rise marginally to $2.71 in October 2022.
What is Icon coin price prediction for 2025?
Still working with an assumed monthly growth rate of 26.23% over the next 4 years, ICON coin price could be worth $5.90 in the next 4 years. The variation between the token’s ATH price of $12.64 and the current price is 505%. On the other hand, the variation between the current price and the all-time low of $ 0.106 is 1,871%. Therefore, the asset could be worth a maximum of $29.79 and a minimum of $3.17 in the next 4 years.