We have been discussing about the scalability issues of layer one blockchains, and the coin developers trying to curb that limitation.
That’s not the only issue of blockchains, as the lack of interoperability in blockchains is also a prevalent issue.
With this issue, a coin from another blockchain cannot enjoy the benefits of other blockchains. This gave rise to huge concerns which led to the production of blockchain bridges.
Read more: About Blockchain bridges.
Blockchain bridges were created to allow interoperability between different blockchains.
This is a turn-on for our subject matter, ICON(ICX).
ICON(ICX) is a layer 1 blockchain that serves interoperability between different blockchains.
In this article, we are going to discuss about ICX with its price predictions from 2022 to 2025.
What is ICON(ICX)
ICON is a layer one blockchain platform that strives to provide secure multi-chain bridging solution that is scalable.
The main aim of ICON is to remove the shortcomings of existing multi-chain bridges, which are scalability and insecurity issues.
ICON(ICX), co-founded by Min Kim, utilises the Blockchain Transmission Protocol (BTP) to execute multichain interoperability. BTP will be discussed later on.
With ICON, the all digital assets from the following blockchains are bridged;
- BINANCE SMART CHAIN.
- NEAR PROTOCOL.
- NEXUS AND MORE.
ICX remains the native token of ICON multichain bridge.
Tokenomics of ICX
Reports from coinmarketcap reveal the price statistics of ICX to be;
- ICX current price: $0.2707.
- Market capitalization: $248,865,257.
- Fully diluted market capitalization: $252,026,233.
- Circulation supply: 919,483,096.00 ICX.
- Total circulation supply: 926,210,351 ICX.
- 24hours volume: $11,562,023.
Why is ICX unique?
The uniqueness of ICX is not far from their utility, and it is explained below;
- Multiple chain interoperability: ICON offers users the privilege to enjoy other blockchain benefits even if they don’t hold the particular blockchain digital asset. Also, some bridges offer pair bridge(just 2 blockchain interoperability) but ICON offers multichain bridging.
- Scalability and security bridging fix: The main goal of ICON is to fix the prevalent mutichain bridge issues. And it done through the mechanism they call, Blockchain Transmission Protocol (BTP).
- Blockchain Transmission Protocol (BTP): The security and scalability of ICON is made possible through Blockchain Transmission Protocol (BTP). BTP is a blockchain protocol that supports cross-chain token swaps and crosschain smartcontracts, according to ICON.
- JAVA programming language: ICON develop smart contracts with JAVA programming skills, making professional JAVA script programmers to feel at home when creating a smart contract.
- Build and get paid: Removing centralization power, ICON offers a build and get paid policy, where users can focus on development, marketing, and community building.
- NO KYC: Contributing on any project in the ICON platform requires no KYC to maintain the idea of decentralization. With this investors feel save and developers feel save to contribute to the specific project.
ICX price prediction
As always said, the utility of coins are important to predict their future, but technical and fundamental analysis remains a plug for price predictions. Therefore we need to look past utility when predicting a coin’s price.
In here, ICX price prediction will be done in parts; 2022, 2023, and 2025.
ICX price prediction 2022
Still on the Bitcoin Dip trend, ICX has gotten a new support. Technically, ICX new support is with a buying momentum to push ICX price higher. From the chart above, ICX will reclaim formal support in next few days.
Although, enough momentum is needed to break the formal support which turned into a new resistance.
Fundamentally, the market capitalization of ICX is top notch, showing how early investors and holders are to join the trend.
With increasing market capitalization, ICX is overly bullish. Also, having a sweet circulation supply below 1B is also a turn-on for the project.
Finally, from technical and fundamental analysis, ICX is predicted to hit a price of $1 with an average price of $0.5 before the end of 2022.
ICX price prediction 2023
2023 stabilizing the bulls power in the crypto market will also be a good influence to ICX.
With that, a new uptrend movement will be formed in respect to technical and fundamental analysis.
ICX is predicted to hit a price of $2.5 with an average price of $1 by 2023.
ICX price prediction 2025
Fundamentally, ICX will hit a market cap above 1B by 2025, which is a big price boost for the crypto currency. Creating blockchain interoperability solutions will give rise to high audience with investment power, acting as a prediction confluence.
Finally, ICX will hit a price of $5 with an average price of $3 by 2025.
Should I buy ICX?
After the price predictions above with the analysis being made, you might want to know if buying ICX is a good idea or not. ICX is a fast rising ALT coin with a promising future. Buying ICX is not a bad idea from predictions being made. You might also face a buying confusion, which is to buy or open a long position.
Fortunately, we are going to discuss where to buy ICX or the buying zones for ICX.
Where to buy ICX
After making your mind to invest or buy ICX, you have to pick a good entry point that can validate profit in due time. This also gives rise to technical analysis. From technical analysis, the above marked areas are good buying or entry points for ICX, and it is marked as “BUY ZONES”.
With the solution being brought by ICON(ICX), blockchain will gain more relevance and use case. ICX is not the only platform striving to effect blockchain interoperability, but it’s setup and development is worth the hype.
This article is for informational purposes and not a financial advice. You are to do your own research(DYOR) and trade at your own risk.