The cryptocurrency sector has exploded with a myriad of virtual currencies all battling for dominance. With the advent of Defi, a slew of altcoins are expected to flourish in the coming future. ICON is one such cryptocurrency that is making headlines. The network uses blockchain technology to maintain a public ledger of all operations.
The ultimate aim was to use ICON to interconnect blockchain frameworks and construct a bridge across numerous public blockchains. All that by employing a specialized communication protocol. Are you one of the thousands, who are interested in ICX’s price projections? Look no further as we uncover the plausible price targets for 2022 and beyond.
Overview
| Cryptocurrency | ICON |
| Token | ICX |
| USD Price | $0.2684 |
| Market Cap | $246,800,863 |
| Trading Volume | $6,839,598 |
| Circulating Supply | 919,483,096.00 ICX |
| All-time high | $12.64 (Jan 09, 2018) |
| All-time low | $0.1069 (Jan 03, 2020) |
*The statistics are from press time.
ICON (ICX) Price Prediction
| Year | Potential Low | Average Price | Potential High |
| 2022 | $0.309 | $0.357 | $0.416 |
| 2023 | $0.364 | $0.500 | $0.707 |
| 2024 | $0.567 | $0.776 | $1.057 |
| 2025 | $0.849 | $1.126 | $1.611 |
ICON (ICX) Price Prediction For 2022
On January 1st, the altcoin opened at $1.22, but fell into a general decline until the end of February, when it closed at $0.70. Furthermore, by April 2nd, the coin had reached a multi-week record of $1.11, following the ICX debut on cryptocurrency exchange OKCoin. Consequently, following the momentary high, the currency fell precipitously, reaching lows of $0.23 on June 18th.
However, deteriorating market trends brought the altcoin down to $0.45 by the 20th of June. Successively, at the time of writing the ICX was trading at about $0.2682.
ICX Coin Price Forecast For Q3
The high throughput network of ICON enables the system to be super-fast without sacrificing performance or integrity. This might become imperative, as the industry arrives to normalcy. The price of ICX might chug up to reach the new highs of $0.329 by the end of Q3.
However, the shrinking stance in the industry may pave the way for a drop below $0.248. Taking the bullish and bearish targets into account, the average price might settle at $0.288.
ICON Price Forecast For Q4
ICON has made numerous market-changing inventions since its debut, along with its newest consensus and interoperability standards named BTP. The Blockchain Transmission Protocol (BTP) assures that diverse blockchain systems with vastly varying techniques and consensus processes can communicate with one another. As the complexity of blockchain grows, BTP can become more useful. That being said, ICX could rise to $0.416.
Contrarily, a possible financial catastrophe or regulatory crackdown might bring the cost down to $0.309. Given the bullish and bearish predictions, the average price might end up at $0.357.
ICON Price Prediction For 2023
The ICON 2.0 network upgrades are anticipated to boost developer engagement and bring in new DeFi initiatives to the ICON network. Consecutively, the price may shoot up to its record peak of $0.707. Failing to stand true to its expectations, can result in criticism. In such a case, the price could fall to $0.364. The lack of fulfilling efforts, could lead to the price finding support at $0.500.
ICX Price Prediction For 2024
This cryptocurrency offers a wide range of opportunities for potential applications. Including e-commerce, securities trading, financial organizations, institutions of higher education, etc… Furthermore, the coin is expected to grow if the community focuses on growing its potential audience and upgrading its platform. As a result, the cost might rise as high as $1.057.
In contrast, if the altcoin fails to satisfy customers and traders, the price may fall below $0.567. As a result, a balance in trade practices might end the year at $0.776.
ICON (ICX) Price Projection For 2025
ICON is a NexGen blockchain-based platform meant to support blockchain network interconnection and batch processing on a single layer. With the invention of newer and better features on the platform, it could gain momentum to a pricier tag of $1.611.
Conversely, a potential financial breakdown or a global market collapse might cause the price to fall to $0.849. However, considering the bullish and bearish targets, the average price may find its base at $1.126.
What Does The Market Say?
Wallet Investor:
As per the algorithmic ICX price prediction by Wallet Investor. The altcoin is anticipated to surge as high as $1.752 by the end of 2022. The company expects the average price to be at $0.717. The business also hosts long-term forecasts. Consequently, by the end of 2025, it expects the token to increase to a high of $0.0249.
Digital Coin Price:
According to Digital Coin Price, the altcoin’s highest expected price by the end of 2022 is $0.37. The company’s analysts have set the lowest and average closing targets for the year at $0.33 and $0.35, respectively. The site’s analysts predict that the alternative currency will end 2025 at its potential high of $0.59.
Priceprediction.net:
For this year, the experts from the company have set a maximum closing target of $0.42. They believe that, while a shift in impetus might drive the cost as low as $0.37. It might cost $0.38 on average. The prediction also contains long-term forecasts. The 2025 trade is therefore expected to close at $1.40.
Click here to read our price prediction of Moonbeam (GLMR).
What Is ICON Network (ICX)?
ICON Network is a layer-one blockchain that aims to create a safe, scalable, and multichain bridging solution. Additionally, ICON also serves as a hub to link all other blockchains integrated through BTP with partner blockchains.
It is a network that was established in 2017 by one of the companies in South Korea. Furthermore, the ICON blockchain and its applications use ICX as their native currency. Summing up, it is a complete network of blockchains to facilitate the connection and interaction with various blockchain software programs across distinct networks.
The main objective of the team is to develop a worldwide network so that it enables various gadgets for efficient usage in the coming future.
Fundamental Analysis
Min Kim co-founded the ICON Network back in 2017. It is a cross-chain bridge but unlike other bridge systems, ICON offers an interoperability alternative. One that is not constrained by the blockchain’s basic technology or the number of existing bridges. ICON is a portal that instantaneously connects any blockchains linked with the ICON ecosystem. Regardless of if they were developed with ICON’s Goloop, Cosmos SDK, or Substrate.
The main players of the ICON Network are Public Representatives (P-Reps) and ICONists. While, ICONists are members of the ICON republic, who assign their ICX to the most successful P-Reps, in return for the highest stake reward. P-Reps are validator nodes that perform tasks that benefit the ICON network and secure the network.
Here are some core features of the ICON
- It encourages community governance by using Delegated Proof-of-Stake (DPoS).
- The ICON blockchain’s interoperability functionality is intended to promote the effortless exchange of resources across various blockchains.
- On the ICON blockchain, partners and entrepreneurs have access to a vast, expedited network fueled by ICX units.
Coinpedia’s ICX Price Prediction
As per the ICON price forecast formulated by our experts, the coin has solid fundamentals and an enthusiastic team supporting it. That being said, the coin can rise to the maximum price $0.4 if bulls outpace the bears. On the flip side, the coin may touch the bottom at around $0.3.
Historical Price Analysis
2017-18
- During its initial days, the ICON cryptocurrency saw an ICO of $42.75 M.
- By October 29th, 2017, it was worth $0.4559, the coin continued to notice a boom toward late 2017 and early 2018.
- It surpassed the dollar threshold at the start of November and kept increasing.
- The coin reached its pinnacle on January 9th, 2018, when ICX reached an all-time high of $12.64.
- However, the token declined below $1 by August.
2019-20
- After the fall of mid-2018, the token continued to traverse on red for almost two years.
- It continued to trade in the range of $0.1000 to $0.276 until the commencement of August 2020.
- The coin started to see a rise in August and by the end of the year, the coin halted at $0.4773.
2021
- The cryptocurrency’s turning point came on February 10th, when it crossed the $1 threshold for the first time after two years with an intraday high of $1.38.
- This time the coin’s value practically doubled throughout this month and continued to grow till March.
- The month of May got off to a good start with the coin trading at the top of the $2 range.
- On December 14th, it was trading at about $1.15. Its market capitalization at that time was roughly $775 million, ranking as the 101st largest cryptocurrency.
To read our price prediction for Polkadot (DOT) click here!
Wrapping Up
In the long run, ICON can be a savvy crypto investment as it strives to solve the interoperability issue. However, the coin has some pretty solid rivals like Metamask and Hyperledger which makes it important to underline its Pros & Cons. So let’s straight dive into the strengths and downfalls of the coin before wrapping up this ICX crypto price prediction.
Pros
- ICON enables the independent and immediate execution of transactions.
- ICON is completely decentralized and open-source.
- ICON works on encouraging the usage of DApps and smart contracts.
Cons
- ICON is still a new project and does not yet have the same level of recognition as some of its major rivals.
- The team needs to come up with greater functionalities to make it stand in the future.
FAQs
ICON has more than doubled in price since 2020, it can bring in good returns if considered for the long term.
ICON is a secure platform, however, it does have some major rivals in the industry. So you may consider adding a small portion of the coin to your portfolio.
The coin is anticipated to trade around an average cost of $0.357 by the conclusion of 2022.
The coin can strike record levels with a maximum and minimum trading price of $0.707 and $0.364 by the end of 2023.
The token can break out of its bearish market to reach the highest trading price of $1.611, by 2025.
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