ICON Project (ICX) July 1, 2019 Weekly Recap: Price Down 9.09%

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Price Action

Since last week, ICON Project’s price went down by -9.09%. It is below its 20 day moving average by 10.21%, so it’s somewhat away. ICON Project’s bullish momentum, based on its distance from its 20 day moving average, is pretty far negative compared to the other coins we’re covering, and thus may be due for a correction upwards or some kind of a period of low volatility. Now when considering volatility, ICON Project is more prone to sizable price moves than 51% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. If volatility over the past three weeks is any indication of what’s to come, we can expect ICON Project to bounce between 0.2970548 and $0.3983252 US dollars per coin.

Volume Update

In the span of the preceding 7 days, ICON’s daily volume, in terms of its own unit of currency, has fluctuated between 2,051,343 and 45,152,529. Looking back over past 21 days, the trend in volume does not have a clear direction, while the price trend is clearly down. Over the past week, ICON saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 3.61%. Its turnover rate is more than approximately 61.76% of the cryptocurrencies in our index, so it’s above average and thus will have enough liquidity for many investors/traders.

Technology Development Status

ICON currently has 30 public repos on GitHub, with the oldest one clocking in at 1.39 years young. Its most recent public update was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. ICON’s repos that are visible to the public collectively have 402 watchers — specifically, that’s more than 66 % of the top 100 coins we’re looking at. The coin has 45 total outstanding issues across all 30 of its public repositories on GitHub. Relative to the number of watchers it has, though, its open issues count is fairly mediocre. We consider the GitHub open issue/watcher ratio as a potential indicator of the healthiness of a coin’s software development process, and for ICON we see that its issue/watcher ratio looks healthier than 43% of similar coins in our index.

ICON News and Commentary

We found 3 links over the past week about ICON that we thought were especially worth sharing. Where available, we included a snippet of the article that we thought might be interesting.

ICON Inflation Simplified – iconcm

Passing of the Torch – Jacob Del Mauro

A Reflection Point on Icons – Adriana Estefania

Article by SixJupiter

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