Markets

ICON's ICX Erases Gains, Remains In Top 20 Cryptocurrencies

ICON’s ICX Erases Gains, Remains in Top 20 Cryptocurrencies: Today we’re going to take a look at ICON, an altcoin which has been gaining a lot of attention recently.

Also known as the Korean Ethereum, ICON saw a strong bullish momentum last week with a 70% increase in its token ICX. However, it’s been seeing a bit of a pullback since Friday, with almost half of last week’s gains being erased by Tuesday’s early trading session.

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But in general, ICX, which is only a few months old, has seen positive feedback among its peers. It is a massive platform which allows various blockchains to interact with one another through smart contracts. The ICON project aims to connect the world, building one of the biggest decentralised networks in the world. The company is in the process of working with public and private institutions and setting out to connect entire economies with their platform.

The ICON (ICX) token has been listed on Korea’s Bithumb Exchange and will soon be on the Upbit Exchange as well.

At the time of filming, ICON is ranking 19 by market cap and has grown its market capitalization to over $1 billion in merely a week.

Its price versus the USD however has been struggling to break above the 5.37 resistance level. The ICX/USD pair remains below the daily Ichimoku cloud, testing the $3 support level, while it appears to have bottomed out at $1.55. ICX reached the all-time high level of $13.20 back in January.

This article was originally published on InvestDiva.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Kiana Danial

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert. She is a highly sought-after professional speaker, author and executive coach who delivers inspirational workshops and seminars to corporations, universities and entrepreneurial groups. She is a frequent expert on many TV and radio stations and has reported on the financial markets directly from the floor of NYSE and Nasdaq. She is a weekly investment expert guest on Tokyo’s #1 Investment TV Show. She has been featured in The Wall Street Journal, TIME Magazine, CNN, Forbes, The Street, and numerous other publications. Kiana’s book "Invest Diva's Guide to Making Money in Forex" was picked by McGraw-Hill only two years after she first moved to the US, and was an immediate domestic and international success. At a young age, she has won numerous awards including Best Financial Education Provider at Shanghai Forex Expo in 2014, New York Business Women of Influence Honoree in 2015, and Pro Bono Humanitarian Award by IA Bar Association in 2013. Born and raised in Iran to a Jewish family as a religious minority, she was awarded a scholarship from the Japanese government to study Electrical Engineering in Japan, where she obtained two degrees in Electrical Engineering and researched on Quantum Physics in classes conducted in the Japanese language. Being the only girl and foreigner in her classes made her decide to dedicate her life to empowering minorities, especially women in male dominated industries. As the CEO of Invest Diva, Kiana’s goal is to empower and educate women to grow their wealth by investing like a ROCK STAR.

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