ICON (ICX) is one of the cryptos that looks all set to go big in 2018. It is supported not just by its fundamentals, but also an increasingly favorable crypto environment in South Korea, and all across the world.
Starting with the crypto environment, South Korea has made it clear that they intend to legislate and make ICOs legal. This is likely to lead to an explosion of ICOs in this country, benefit ICON (ICX) a big deal. That’s because it is the Korean version of Ethereum, which means that it would take the biggest share of Korean-based ICOs. This could push up its value substantially, just like Ethereum pumped up following the 2017 ICO craze.
From a fundamentals perspective, ICON’s strategy of collaboration rather than competition in the crypto market gives it a strong edge over other cryptos, and is playing a role in its huge adoption in the market. It’s element of collaboration is evident in the fact that the ICON wallet can store multiple other cryptos, and not just ICON (ICX). This is likely to drive in more developers to create tokens on the ICON blockchain, and push up its value in the long run.
On top of that, a look at the kind of partnerships that ICON has bagged in the last few weeks, leaves no doubt that this is truly a diamond in the rough. In the last one month and a half, ICON has signed more than 5 partnerships with A-List corporations, partnerships that have a huge bearing on the long-term value of this crypto. A good example of such, is the partnership that ICON (ICX) signed with Line, a social networking platform. Through this partnership, Line, a platform that has more than 200 million users will build its network on the ICON blockchain. This is huge, and could see ICON (ICX) become the central most important blockchain, for future decentralized social networks.
ICON (ICX) has also signed a partnership with Delloite. This deal that was signed yesterday, will see Delloite run applications on the ICON blockchain. Delloite is not just another name out there, it is one of the largest accounting firms in the world. As such, this deal could create a domino effect where other accounting firms follow suit and adopt the ICON (ICX) blockchain. Once this happens, ICON will be well on its way to the moon.
When you combine all these mega-partnerships and the fact that ICON (ICX) is trading at under $3, it is not hard to see why this is probably one of the most undervalued cryptos in the market.
This is like a second chance for those who missed out on Ethereum while it was still under $10. As developers continue to develop on the ICON blockchain, and the world becomes more receptive to ICOs, ICON could easily trade at over $100. Very few cryptos right now have all fundamentals so perfectly aligned, as ICON (ICX) is today.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.