Price Action
Since last week, ICON Project’s price went down by -1.01%. It is below its 20 day moving average by 1.66%, so it’s fairly close. ICON Project’s bullish momentum, if assessed by 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 44% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Based on volatility over the past three weeks, we can expect ICON Project to experience a price range in US dollars between 0.2991591 and $0.3780809.
Volume Update
Over the past week, ICON saw its daily volume range between 2,219,984 and 15,892,142 units of its own currency. 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 1.87%. Its turnover rate is more than approximately 51.02% of the cryptocurrencies in our index, so it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.
Technology Development Status
ICON currently has 30 public repos on GitHub, with the oldest one clocking in at 1.26 years young. The last recorded update to its public repositories 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 388 watchers, which is about average compared to other similar coins; that’s more than approximately 42 % of coins in its index. The coin has 38 outstanding issues in the backlog awaiting to be addressed by the core development team. Its number of watchers, when viewed against 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 53% of similar coins in our index.
ICON News and Commentary
We found 2 links over the past week about ICON that we thought were especially worth sharing. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.
Surrounded by icons – Francesca Cabaletti
What am I? Who am I? How do I? – Oscar Evolves
Article by SixJupiter
