ICON (ICX) Gains Over 50% on Bithumb Listing

ICON (ICX) Gains Over 50% on Bithumb Listing

 ICON (ICX) Gains Over 50% on Bithumb Listing ICON (ICX) Gains Over 50% on Bithumb Listing

ICON, the renowned ‘Korean Ethereum’ network, surged 59% this morning following the announcement of its listing on Korean crypto exchange, Bithumb.

After a slow month for ICON, investors will be grateful for the recent announcement as the alt-coin price rose sharply from $2.22 to $3.54 – the highest price we’ve seen for over 2 weeks. Trading volumes have risen by over 211% since the start of the bull run, from $53,143,200 to $165,506,000 – an increase in activity of $112,362,800 in a matter of hours.

Looking into the market activity, the pairing on Binance equates for over 78.65% of all ICON trades today compared to only 13.92% trading in ETH; clearly demonstrating that a vast majority of the community are favouring at the moment in the recent trending market.

The short-lived pump has already begun to correct back down below $3.30 as the bullish support fell short of pushing the price beyond $4. This is likely due to short-term investors taking profits early and withdrawing positions into more stable assets like BTC, ETH and BNB.

We could see a second surge later on once the Bithumb community begins to move in on ICON. With over a million users on the platform and it being rated the world’s second largest exchange by daily trading volumes, the new listing spells great news for the ICON project.

That being said, with the current BTC market improving like it is it will be difficult for many alt-coins to hang on to any promising gains today.

This article appeared first on Cryptovest

Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Published at Wed, 21 Mar 2018 19:30:56 +0000


Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.