ICX insanity. How far could it go?
ICX rapidly broke resistances and is now being traded around it's 16m high, 0.57 USD at the moment of writing this.
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:
A representation of sentiment has never been this positive ever:
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):
Seems more and more relaxed since summer 2019.
Devactivity top is perhaps somewhere around launch of ICX staking.
Around 25% of ICX supply is now being staked.
It's a solid amount, consistently growing.
Still far from 80% of SNX staked.
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?
Thanks for reading!
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