Of the twenty most valuable coins on the market right now, most of them have finally entered green territory – after several shaky days of dropping prices and sluggish growth across the entire digital currency ecosystem. One cryptocurrency in particular has risen the most in the past 24 hours, and that coin is called ICON (ICX).
Just in the past day, ICON (ICX) has made a whopping 154 percent gain, compared to Bitcoin (BTC) with less than five percent and Litecoin (LTC) with less than three percent today. In the past week, ICON’s growth has been even more impressive – jumping 230 percent in the last seven-day stretch. Looking back at the past month, this crypto-coin has seen roughly 475 percent of price growth.
So, what type of cryptocurrency is ICON (ICX)?
It’s a relatively new currency, having only held an initial coin offering (ICO) in September of this year. It was launched via a Switzerland-based foundation, and the coin’s first sale period racked up 150,000 Ether in funding – which was about $42 million at the time.
ICON (ICX) functions as a decentralized transaction network, and the project was created by a consortium of South Korean fintech startups called Dayli Financial Group. The project is focused on what the founders call “hyperconnectivity,” and its goal is to build an ecosystem that allows different institutions (like governmental departments, universities, banks, etc.) interact and trade with each other – minus middlemen to complete transactions.
This cryptocurrency is essentially trying to link disjointed organizations via blockchain – opening ICON (ICX) to a whole plethora of possibilities.
The author of this article owns none of the assets mentioned above.