ICX insanity. How far could it go?

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Garry Kabankin
Feb 4, 2020

ICX rapidly broke resistances and is now being traded around it's 16m high, 0.57 USD at the moment of writing this.

Source: Sanbase

It's insane 75% in 24h or 415% in a month.


Icon's social volume followed the price.
Some people began noticing ICX price action on January 25th, and now of course when it's spiking hard:

Source: Santiment Labs

A representation of sentiment has never been this positive ever:

Source: Santiment Graphs

There is no particular reason behind what we are seeing.

Possible to have a look what were people talking about related to ICX last 24 hours in details, to understand the crowd.

I used Sandata Social Data Feed tool to compile an overview:

Lots of excitement, as expected. Meanwhile few persons are cautious on ICX.


What other background can be observed?

Development activity (blue):

Source: Sanbase

Seems more and more relaxed since summer 2019.
Devactivity top is perhaps somewhere around launch of ICX staking.


Regarding staking:

Source: @iconviet

Around 25% of ICX supply is now being staked.

It's a solid amount, consistently growing.

Still far from 80% of SNX staked.


Finally:


Regardless of icx merits, which I won't discuss, any asset that 4x in a few weeks without any new information available is just a bubble and/or manipulation and/or insider trading. It 100% has nothing to do with icx merits.


Do you agree?


icx
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Garry Kabankin
Feb 4, 2020

Thanks for reading!

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