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.
![](https://production-sanbase-images.s3.amazonaws.com/uploads/eb624bb4e9d01ad61a324ae73818dac3034958585e1821e48fb170e7304e3e1c_1580804036843_screenshot-app.santiment.net-2020.02.04-11_11_28.png)
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:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/783ed3df6c0f9d99d641435b30d05407f9ae16c85a321e0d36862a6c8198e562_1580810699332_screenshot-app.santiment.net-2020.02.04-13_02_32.png)
A representation of sentiment has never been this positive ever:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/89d988f6b3d28d8927f81cb4f56716928dca6d3f5cac0f774720e5f6bd7748aa_1580811303910_screenshot-graphs.santiment.net-2020.02.04-13_12_40.png)
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:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/989081c6e3232473f09d5f7ae44fac0bfb297d684228fdc51c56772520416d42_1580812984399_Screenshot%202020-02-04%20at%2013.42.52.png)
Lots of excitement, as expected. Meanwhile few persons are cautious on ICX.
What other background can be observed?
Development activity (blue):
![](https://production-sanbase-images.s3.amazonaws.com/uploads/ed4f59f2c4454ec02da054bb13a0559570e41dbe3d5ceb09bf33ba118afb2158_1580814087459_screenshot-app.santiment.net-2020.02.04-14_01_02.png)
Seems more and more relaxed since summer 2019.
Devactivity top is perhaps somewhere around launch of ICX staking.
Regarding staking:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/d11b2e65a80503dc1c4aaf6c67831c18541ef5166a8a0115445b20d6a4007ffe_1580814466766_EPn7I8vUwAApZ6I.jpeg)
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?
Thanks for reading!
If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!
Never miss a post from Garry Kabankin!
Get 'early bird' alerts for new insights from this author
Conversations (0)