Price Action
Over the past week, ICON Project saw its price go down by -6.8%. It is below its 20 day moving average by 6.92%, so it’s slightly away. ICON Project’s bullish momentum, determined by its distance from its 20 day moving average, is among the worst compared to other cryptocurrencies, and thus may indicate the coin has swung too far and too fast — and may thus be due for consolidation or a bullish correction. Now when considering volatility, ICON Project is more prone to sizable price moves than 28% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. If volatility over the past three weeks is any indication of what’s to come, we can expect ICON Project to bounce between 0.3311366 and $0.3968134 US dollars per coin.
Volume Update
Over the past week, ICON saw its daily volume range between 2,605,466 and 21,869,031 units of its own currency. Over the past three weeks, 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 2.4%. This turnover rate is higher than approximately 60% of the cryptocurrencies we monitor, which means it’s above average and thus will have enough liquidity for many investors/traders.
Technology Development Status
At the moment, ICON has 30 repositories open to the public on GitHub, with the oldest one now being 1.38 years young. Its most recent public update was within the past week which is not bad, as the coin is still being updated routinely. ICON’s public repositories collectively have a total of 403 watchers, which is about average compared to other similar coins; that’s more than approximately 49 % of coins in its index. The coin has 55 total outstanding issues across all 30 of its public repositories on GitHub. In comparison 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 40% of similar coins in our index.
ICON News and Commentary
Over the past week, we found 3 links about ICON that we found especially interesting. If available, we added an excerpt from the article to help give a taste of what it is about.
P-Rep TestNet Mid-June Update – iconcm
A complete guide to iconography – Yuliana Z.
Designing icons with Lead Icon Designer at Font Awesome, Jory
Article by SixJupiter
