South Korea’s ICON Network (ICX) is a layer-one blockchain. Its stated goal is to create an interoperable blockchain network that connects autonomous online communities with real-world businesses. ICON Network focuses on delivering real-world utility by promoting frictionless value transactions and fostering hyper-connectivity.
The project can reduce the number of middlemen and eliminate barriers to cross-border interactions by confirming transactions on its decentralized ledger. ICON was able to gain multiple collaborations with South Korean enterprises and the private sector thanks to its focus on enterprise adoption.
ICONists, or token holders, can delegate their ICX to these P-Reps in order to secure the network. Each P-Rep is backed by their ICONists’ stake. New applicants can also become one of the top 100 P-Reps who help to validate the network. P-Reps are led by groups of software developers, marketers, corporations, and other stakeholders who have contributed to the ICON project for a long time.
Icon (ICX) Uses
Staking, paying smart contracts and transaction fees, and rewarding users for network participation are all done with ICX. Depending on the overall amount pledged, staking benefits range between 6% and 36% every year. The length of the unstaking period is proportional to the number of ICX staked; the fewer ICX from the entire supply staked, the longer the unstaking period, which can range from 20 to five days.
The Token distribution is as follows:
400 million ICX were sold at the ICO in September 2017 for $0.11 each, with 16 percent reserved for the community and 10% going to the team, advisers, and early contributors. 10% to the community organization and strategic partners. The ICON Foundation receives 14% of the proceeds.
Price Movement
At the time of writing, ICX is being traded at the price of $1.26 with an increase of almost 7.89% in the last 24 hours. ICX is a really strong token fundamentally. The maximum and minimum today are $1.27 and $1.14 respectively. The daily trading volume has increased by almost 14%. ICX had created its ATH in March 2021 and reached a price of almost $3.20. Even after the reversal, It still hasn’t been able to recover from the damage and is trading at the price it had around July.
ICX has a circulating supply of almost 679M coins and a total supply of almost 80M. It is listed on coinmarketcap at rank 98th. It can be exchanged on Binance, FTX, Huobi Global.
Price Prediction – ICON
According to wallet investor thinks that ICX is a good investment. According to them, in one year, ICX would be worth around $2.973. In a five-year time span, the price is expected to reach a value of $6.869.
