ICON (ICX) is nearing its mainnet launch, and has set several deadlines to register the pre-launch Ethereum-based tokens. For now, Binance and Upbit have already closed for deposits, and Bithumb may fail to participate in the token swap due to the recent hack. ICON is yet another project performing the launch, together with TRON, EOS, and other networks.
For users that did not send their tokens to exchanges, ICON has opened a registration tool on ICONex. The option to swap the tokens will be open between 25 June and 25 August. Users may have opted out of sending the tokens to exchanges, as that would require an additional expense of Ethereum for gas costs.
After a strong performance in April, ICX market prices started to tumble and slide, with no additional boost from the upcoming mainnet launch. The looming token chance in fact seemed to lower the activity. ICX has slid to $2.04, a significant drop from the temporary peak at $3.50.
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Binance remains the leading exchange for ICX. The pairing with Tether (USDT) takes up more than 23% of ICX volumes, but still most of the trades happen against Bitcoin, for a strong pairing with the leading asset’s price. ICX trading against Ethereum has dwindled, as the network gets closer to becoming independent.
As the prices of some assets slid with the long-running bear market, ICX looks stuck around the $2 mark. However, the project is one of the promising platform coins, offering systems similar to Ethereum for various attempts at running decentralized applications and smart contracts. This has led to expectations for a very dramatic price rise, but mostly based on the behavior of Ethereum.
However, ICON is mostly supported by Korean markets, and may not see the same prominence and inflow of funds as ETH.
This article appeared first on Cryptovest
