ICON (ICX), ranked as number 20 on the global coin ranking list thanks to its market capitalization, has been doing pretty well on the market while the rebound phase which took place after the recent selloff, was in the progress. However, what seems to be one of the most important moves for this currency is the fact that the team behind ICON has started an incubation project called Deblock, which should introduce ICX and the partners included into a new era of their influence among the crypto community. Let’ see what Deblock is exactly about as well as how ICON is doing at the current moment.
ICON and the New Incubation Project
One of the main reasons for having this project enabled for further progress of blockchain technology and the introduction of the blockchain-based industry is the fact that AD4th joined the ICX for the sake of this cause.
AD4th is an advertisement company that operates based on blockchain technology, promising the advocacy for this technology as well as for ICON (ICX) as a currency given the fact that ICX partnered up with this marketing company.
AD4th claims that they can recognize the needs of blockchain based assets better than a traditional marketing company, not only because of the fact that they are not taking the usual pricy fees that usually go with marketing service while removing the middleman, but also because they are working on anti-fraud marketing recognizing true qualities in the growing world of cryptos and blockchain-based technology.
Together with AD4th, ICON has started a project called Deblock that is aiming at creating a blockchain incubator that would allow the best decentralized application projects to get funded while enabling the owners of these accepted projects to receive credits for their work and see their project getting funded while going towards realization.
ICON has imagined Deblock to work in a way all traditional business incubators are functioning, with a single difference of having this incubator focused on promoting business applications supported by decentralization and blockchain technology.
That way, not only that ICON is working on promoting blockchain technology, but it’s also gaining more on its personal exposure, which means that ICON might very soon justify its bold nickname “Korean Ethereum”.
The team has also stated that there will be over 300 of different blockchain projects funded with this blockchain incubator during the course of 3 years, which is the estimated time of the completion of this project.
With over 300 projects enlisted through the incubator, around 50 of these would be fully funded by the participants of the project. All funded project will also be promoted and pushed into the market, thanks to the AD4th team which is, of course, in charge of marketing strategy behind Deblock business incubator.
It is more than likely that ICON (ICX) might end up sky-rocketing to the moon eventually as this project can easily become the stepping stone for the further development of ICX, not only because ICON might end up getting a higher level of exposure in oppose to some of its peers, but also because some of the projects asking for funding on Deblock might actually end up changing the way blockchain technology is used.
Since users of Deblock will get to vote on which project is more likely to get funded, all eyes will be placed on the project holders which means that a revolutionary project, in case there would be such projects, couldn’t go on unnoticed.
ICON and the Market
ICON has been doing pretty well during the week that was marked as the rebound week as the majority of currencies were trading in the green while going up against the dollar.
However, at the end of the week, ICX is having a minor downfall in the market as this currency started to trade in the red with the beginning of May 5th.
After the latest change in the market, ICX is being traded lower against the dollar with the latest drop of -1.20% against this fiat currency. In addition to dropping against the dollar, ICX is also trading in the red in oppose to ETH and BTC.
While ICON is going down against BTC for -2.96%, it is trading in the red against ETH with the latest drop of -4.66%, which means that these two top cryptos are currently still being traded in the green while ICX is unexplainably dropping.
With the latest change in its market capitalization, ICON (ICX) can be purchased at the price of 4.40$ per one unit, which is still nearly three times lower than its all-time high value of around 12$ that was set back in January of 2018.