Icon and its native token ICX are best known by its “hyper-connectivity”, where Icon as a blockchain-based project with South Korea as its starting point is able to interconnect other blockchain projects through its ecosystem called Icon Republic.
Moreover, Icon (ICX) as a blockchain-based network is able to merge different communities in the blockchain space through its Citizen Nodes as well as through Icon Republic, through the utilization of loopchain, along the way scoring some major partnerships like the one sealed with Samsung back in May of 2018.
Although the last price peak of ICX was noted back at the end of April when the currency was being traded at the price of 4.80$ nearly breaking the resistance against the fiat and going towards the value of 5$, the price soon declined, gradually leading to its current value of 0.69$
However, based on its performance during 2017, Icon (ICX) seems to be able to get back to its all-time high of around 11$ by the end of 2018 and the beginning of 2019.
Can Icon (ICX) Get Back to Its All-time High?
Back in January 2018 when the majority of ICOs went towards reaching record prices driven by a benevolent market trend, Icon reached an all-time high of around 11$ per one ICX.
From that point on, Icon lost around -94% of its total value since the time it made it to its record price, however, the currency is showing a positive return at the beginning of October, making up for one of the rare cryptos among the top 40 currencies by market cap that are currently collecting gains above 2% against the fiat with a total of 2.98% of rise against the fiat on October 2nd.
Moreover, the last peak price of ICX was recorded back at the end of April when the currency was being traded near the value of 5$, but it soon declined to below 1$, ravaged by the bearish market trends that took over 90% of its total market capitalization.
However, if you take a look at the previous charts of ICX during the year of 2017, you will notice that the currency traded at around 0.70$ back in October of 2017 just as we can see it currently standing at the price of 0.69$ on October 2nd of 2018.
Gradually, the currency nearly touched 2$ per one ICX back in November of 2017, only to break through the resistance of 2$ later on in mid-December of the same year.
December was pretty fruitful for Icon (ICX) at the time as it brought new all-time highs, driving it towards its price peak of 11.72$ as marked back during the second week of January.
In the market that is yet to be completely defined by the repeating market trends, Icon is seen with a good shot of getting back to its very peak of glory when it comes to its price. However, to reach that point, Icon would need an additional push in form of good news, partnerships or listings, or simply by getting caught up with positive market trends for a change.
What Factors Could Push the Price of Icon (ICX) up?
Icon (ICX) is one of the blockchain projects that have been following up with the latest trend of acquiring its own mainnet in 2018, that way gaining more momentum in the market and within its community.
Moreover, back in May, Samsung announced the signing of the Momentum of Agreement with this South Korean-based blockchain project in order to create a product called Chain-ID; however the news didn’t repair the damage that the negative market trends have made back during May of 2018, while ICX started to record new lows at the beginning of June.
Alongside with signing the MOU with a tech giant like Samsung, Icon foundation is marking new partnerships with blockchain-based projects with the objective of enabling users of the network to run and operate with their own projects on the ICON network, which altogether can be a driven force for ICX on its road towards acquiring a rebound by the end of 2018.
The signs of bouncing back up are already obvious as Icon ICX is showing a positive return against the fiat on weekly and biweekly charts, with 4.9% during the last seven days and 19% of gains during the course of the last two weeks.