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The ICON Foundation is delighted to announce the release of the new ICONLOOP’s Corporate Identity (“CI”). This comes weeks after the network announced that its technology partner theloop had given a go ahead for its rebranding to ICONLOOP. As reported by Crypto Recorder, the change took effect immediately after the announced that was made on August 7. Theloop’s rebranding was an emphasis of its commitment to ICON (ICX) project. At the time, ICON Foundation said:

“The rebranding makes a lot of sense as we are now finally ready to push the ICON project here in Korea,” said JH Kim, CEO of ICONLOOP. “Our team is fully committed to contributing to the ICON project and servicing the ICON Foundation.”

Consequently, the announcement made today, September 3, is in line with the rebranding mission of theloop to ICONLOOP. Both ICONLOOP and ICON are focusing on a couple of district markets. ICONLOOP has its focus on developing and designing private blockchain networks tailored for institutional as well as government’s clients. The later, on the other hand, is concentrating on the development of decentralized applications (dApps) mainly for the public blockchain infrastructure.

The rebranding is helping the networks improve their presence in the two market districts. The team said that “one cohesive brand brings significant synergies to both parties, as the potential for interoperability” in both of the markets continues to increase and become more valuable. In regards to the partnership Hoon Lee, a council member at ICON Foundation said:

“ICONLOOP has built up a partnership network with large companies in the financial industry with a focus on B2B services. We plan to apply our business accomplishments and know-how to the ICON project to create a global platform. We are ready to make a larger blockchain ecosystem, and are continuing work to bring blockchain technology to the next level.”

The collaboration and the rebranding are improving the bond between ICON Project and ICONLOOP. In turn, it is going to develop greater value as opposed to the entities working separately.

About ICON Project

ICON Coin (ICX) is a cryptocurrency project launched in 2017 and concentrates on bringing blockchain hypoconnectivity. It exists to link institutions such as financial institutions, insurance companies, hospitals and universities among others. The South Korea-based crypto company has within a short time established a presence in the country following the application of the loopchain (the official network’s blockchain) in commercial banks, security markets, universities and even healthcare institutions.

ICON (ICX) Price Overview

ICON Coin opened the trading last week at $0.88 but recorded a week’s high of $0.98. There were declines as the week progressed where ICX/USD traded below $0.80 forming a low of $0.787 before pulling back up. The weekend trading came close to $1.00 but the trend turned bearish at $0.99. At present, the digital asset is exchanging hands at $0.89. The trend is strongly bearish and the technicals on the chart continue to send negative signals. There is a support at $0.850 but a stronger anchor is highlighted at $0.80.

ICON Coin is the 31st largest crypto with a market capitalization of $350. It has corrected lower 4.85% in the last 24 hours and the data on CoinMarketCap shows that its trading volume stands at $31 million.


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