ICON Price Erupts 72% on Huobi While Crypto Exchange Launches on ICX
ICON (ICX) made significant moves amid a falling market on Sunday as its price exploded on both the Huobi Global, and Huobi Korea exchanges. ICX surged 72% on the Huobi platforms, while prices on Binance lagged behind.
Once hailed as the ‘Korean Ethereum’, sentiment on ICX may have been boosted by the recent launch of a digital asset exchange on the ICON blockchain. The VELIC exchange – described as an all-in-one crypto finance platform – apparently launched on ICON after the team reviewed Ethereum, EOS and other major blockchains beforehand, and elected to build on ICX.
ICON Erupts – ICX/USD
After a long and arduous 2018 in which ICX lost 98.57% of its value, the coin showed some signs of revival on Sunday. From the daily low of $0.296520, the value of ICX surged to $0.511637 – a 72% increase.
However, a glance at ICX’s markets reveals discrepancies between the prices on various exchanges. The surge appears to have begun on either Huobi or CoinTiger, where you can see the outlier prices still in the high $0.70 range.
Prices on other exchanges did attempt to follow the outlier price, as seen by the massive influx of trades to Binance. The Malta-based exchange hosted the highest concentration of trades on the day, although the ICX price only grew by around 3% there.
ICON struck an all-time low of $0.18 in December 2018, and its recovery until now had failed to keep pace with the rest of the market. Despite that, the team revised its roadmap and continued to build, prompting renewed optimism among bargain hunters at the turn of the year.
Read more: Investing Idea: ICON (ICX)
VELIC Exchange Builds on ICX
VELIC is an acronym for “Vault, Exchange, Loan, Investment, and Crypto asset”, giving an idea of the range of features/products VELIC will offer. The collaboration between ICON and VELIC was first announced in January, at which point the VELIC team claimed to have chosen ICON over the likes of Ethereum and EOS:
“Our team reviewed Ethereum, EOS, Hyperledger, and Qtum, however, we ultimately decided to develop on the ICON’s loopchain.”
According to the team, ICX/USDT trade volume on the VELIC exchange topped $1 million in the 24 hours between July 11-12th. For comparison, the Binance ICX/USDT trade volume for the same time period wasn’t too much higher, at $1.5 million.
VELIC wasn’t the only dApp (running on ICON’s IRC2 infrastructure) announced on ICON recently.
On July 12th the team announced the imminent launch of the first multiplayer game on the ICON blockchain. Titled Battle Bomb Royale , the game is expected to arrive on the mainnet within the next week or so, as per this retweet:
“The BattleBombRoyale team is proud to announce that we will release the first ICON DApp multiplayer-game in real time on mainnet in a week or two. We will perform an open beta test on the TestNet this weekend.”
Sounds like holding ICX lol jk. That’s cool price has surged on some exchanges and Dapps are being launched. I hope it holds up better than CryptoKitties.
One of them is ICONex extension for Chrome will support ICON Staking
Hello everyone from DSNC, we are ICON P-Rep candidate.
Please have a look at our presentation here in BitcoinPub forum.
13 hours…no talk. That’s a long time for this room. The time to buy is before the moon, not after.
Here we are again. ICX is rising on CMC and Coinbase but binance it is dumping…???
I think people are not using binance for their icx anymore… and would buy up the majority of sell orders on other exchanges… leaving a higher demand (higher price) on the exchange
don’t think so since they have top 2 volumed market for icx pairs
I thought this was determined the pump on houbi is being used with Erc-20 tokens.
If this happens regularly I will buy some ICX there and wait for it to happen.
So now the need to hold ICX coins for transaction fees is the virtual step thing and the value of such coins will be determined by that only?:
Am I wrong ?
Yes you are wrong.
ICX is not just used for virtual step. Some people will not even use virtual step as per my earlier posts.
ok, glad to read that.
New ATLs in 3, 2, 1…