We start the week on a positive note with all altcoins trading higher during this morning’s Asian session. Bitcoin has remained steadily above $8,000 and is up 4.4% on the day, this has created confidence in the altcoins which are also enjoying positive price action this morning. Looking through the top 25 we can see a couple of contenders with double digit increases but Icon is performing the best at the time of writing.
According to Coinmarketcap ICX is up 16.5% in the past 24 hours and has moved from $3.52 this time yesterday to $4.23 today. Icon has been a solid performer over the past week rising from the February 6 dip at $2.50 by over 75% to where it trades today. It has yet to reach the heights of its record of just over $12 on January 10 however.
The ambitious project aims to weave all of the cryptocurrencies together into one large decentralized co-existing network. The grand plan for this South Korean blockchain team is to interconnect various organizations including financial institutions, insurance companies, healthcare, and universities together. As yet Icon has no major partners however traders are evidently interested in the token as reflected in its performance today.
Unsurprisingly ICX is traded largely in Southeast Asia with Binance taking over 90% of the total trade volume. It has a market capacity of $1.6 billion and a low supply of only 400 million tokens. Over $65 million has been traded in ICX over the past 24 hours and it is currently ranked at 21st in the charts.
Other altcoins enjoying double digit increases this morning are Ripple, Neo, Ethereum Classic, and Bitcoin Gold. An unknown coin called U.Cash has surged up the charts with over 900% increase in 24 hours seemingly on the back of its recently completed ICO.
More on Icon can be found here: https://www.icon.foundation
FOMO Moments is a new section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.