After going through tough market moments in July, ICON (ICX) is poised for a good run after going into partnership with a new partner. The partnership focused on making the entire ICON ecosystem secure. The new partner; CertiK is leader in the industry through provision of bespoke security systems solutions.
This is a strategic partnership that will help enhance ICON security and instill investor confidence for increased adoption. The coin has been on the receiving end as the market continued to bleed and in July, the community got some assurance from the outfits’ project CSO, Min Ho Kim to the effect that:
“We continue to stay focused – build the team, technology, and network. ICON is better positioned for success today than yesterday. We are making improvements one step at a time. 2017 was the year of INITIATION, 1H2018 was for ORGANIZATION, and we expect 2H2018 to start ACCELERATION.”
The promise appears to have ushered in a new partner to drive the acceleration vision of the network. ICON has been blamed for missing project deadlines and it has also scored miserably in its marketing. The partnership appears to be a move to address the community concerns and repackage the outfit as a secure and future focused crypto verse player.
What is Holding ICON (ICX) Back?
ICON can be described as high-beta digital asset and investors tend to think it is a high risk coin compared to other altcoins. High beta digital assets tend to appreciate fast and drop at the same speed. This can only be cushioned by diversifying the coin; this can only be achieve through increased use cases, getting listed on high profile exchanges for additional liquidity and mass adoption.
To reduce additional performance risks, fund managers have been locking in profits. This is the reason why the price has been on the down tread due to an artificial seller pressure. According to Kim, ICON has benefited immensely due to an enabling trading environment presented by the South Korea authorities and this is set to spur the coin growth despite the domestic competition.
ICON CertiK Partnership
CertiK is poised to become very instrumental in driving the ICON ecosystem to the next level. The timing is right and this should sort the far of security lapses and allow the team to concentrate in popularizing the ICON brand and bring you up to speed, the partnership is set to benefit ICON.
While making the announcement, The ICON Foundation has said:
“We are excited to announce a strategic partnership between the ICON Foundation and CertiK, a smart contract auditing firm with a patented technique to automate formal verification of smart contracts. This partnership will lead to a more secure ICON Ecosystem, as DApp projects launching on ICON will soon have the ability to submit their SCOREs to CertiK for an almost entirely automated smart contract audit.”
ICON and CertiK need the numbers and growing their audience and creating the ideal environment for investors to trust the network. Hours after the partnership deal was announced, ICX price surged hit a 7 day high of 17.8% to the dollar though the hype appears to be ebbing to see the coin gain 7.51% in the last 24 hours.
At the time of going to press, the ICX price stood at $0.644469 and ready to spike if the market improves. By end of the year, ICX price is expected to pass the $1 mark given the current adoption rate that has been sparked by the CertiK partnership.