ICON is included in the list of best performers in year-to-date performance as it is surged by almost 326%. Moreover, the recent, Tuesday rally has added a 70% value to the coin price.
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On Feb.4, the ICON managed to get the peak value since the bullish trend of August 2018: it has broken the record of the past 18-months. Such a fresh peak with 70% upsurge wondered the crypto community as there was no apparent reason behind the rally.
2020 proved as a good year for the cryptocurrency: most of the coins are up in terms of price. ICON has been up by nearly 326% since the beginning of the year. While Bitcoin, digital gold, is increased by almost 29% in the first month of 2020.
The market cap is also showing great momentum the crypto market is making. According to the data, the total market cap is accumulated by $67 billion since the beginning of the year- comprising of the bitcoin and altcoin values.
The ICX coin recorded the market cap of $400 million on Feb.4. The sudden rise in the price value seems to be the manipulation of the giant bulls. Though, there might be some other reason for value increasing from the past ten days.
The ICON started downward after the bullish season of 2017-18. At that time, ICX was making out progress rapidly-also in terms of network development. With the bearish outbreak, ICX then lost almost 99% of its price value.
But the current upward trend is pointing to the coin potential: as its blockchain network is also improving with 12 decentralized dApps, currently, working on its blockchain.
It seems that not only the $ICX price is increasing, but also the number of tools and Dapps on the #ICONEcosystem! We are happy to share the recent addition of #MetrICX by @RhizomeICX on https://t.co/7KnksdYNnD! What a great day to be part of ICON Ecosystem!#ICONProject #ICX pic.twitter.com/maox9xveZB
— ICONEcosystem (@IconEcosystem) February 4, 2020
Social Media Engagement
The coin also making its position at the top in terms of social media engagement. It is seen on Jan.31 that ICON is the sixth most searched digital asset on Twitter. The hype created over social media is also responsible for the coin price explosion. As @CaliCryptoCo noted:
— CaliCryptoCo (@CaliCryptoCo) February 1, 2020