Bitcoin Forum

https://ctrlv.cz/shots/2019/02/09/nPH3.png

What happened to ICON? It seems that this project is dead if you look at graph. ICON still gives 12% monthly by staking it, so do not understand why so many people sold ICON. I know that we are in bear market, but ICON lost more than other altcoins.

You can find hundreds of such graphs. Some projects work, give passive income to the owners. However, the vast majority looks like this.
Even the holders of passive income assets do not go for reinvestment, and in combination with a lack of interest...

simply because it is useless!
any coin or token that has no use cases is eventually going to end up in the same place as the other couple of thousand altcoins that have come along and died in a short time.

if that is not enough then your own statement should do it:
any coin that gives this much away creates a lot of circulating supply that people gained easily and they will obviously dump. it is a pretty simply supply and demand thing!

no usage=no demand + high circulating supply + free high profit percentage => declining price

This is typical graph of a coin held ICO before the big price fall of last year. If you notice, the ICON-Bitcoin price is just 10% from 30 Oct 2017.

Nothing happens to ICON, just the Bitcoin price is x7  lower and price of alts are heavily correlated to Bitcoin. 

And what about PundiX? They are airdroping tokens every month and if you calculate the yearly ROI is around 30%!
As I said, I know that we are in bear market, but look at the grap, there is a line - it seems that the project is dead.

The flat line is not bad at all. It could be like a ski trace :)

PundiX ROI was over 90% for 2018 with ~7.12% monthly while they changed the distribution rules few times. The airdrop percentage dropped significantly for 2019 and they also failed big with POS devices delivery schedule and desires for new ICO. This is what ruined PundiX price. Same with ICX.

it is nowhere near 30%. it is more like 6 or 7 percent profit not considering the price drops and we are talking about an extremely low value coin so when it drops from 13 satoshi to 12 satoshi that is a 1 satoshi drop but you lose 7.7% of your investment. and that is for early days.

this month the people are saying on their Reddit sub that the amount is decreased to less than 2% which is even lower than what i said above!

but my point stands. useless coins decline. when they give away big amounts they hasten their doom.

I don´t see that PundiX price dropped so much as other altcoins. Price of PundiX is 3 times cheaper than All Time High price. That is very good for PundiX project, very bad for investors  ;D.

The staking reward is crazy, 12% per month not even per year. One of the main ting that helped Waves tokens is the low reward given out for those staking their coins which help to reduce the inflation rate. ICON was one of the most hyped ICO in 2017, a direct competitor to Ethereum and two years later no real Dapps is running on the platform, until all these platforms start having real users and applications they would end up in Zero value

ICON would like to connect all the blockchains. They are not really interested in creating own Dapps, there are many better platforms for it - EOS, TRON, Ethereum. Or I am wrong? I know about the cooperation with the government and I think that is the most important thing on this project.

The problem with coins that have a high stake value is that people dump their profits which keeps the prices low. Also, ICON is not as good as NEO so that pushes them further down the list

It is not good at bear market, but the situation will change as soon as market sentiment changes. In bull market people love free coins ;).

Finally ICON started to grow! I had buy orders at 0.17USD price, the bottom was 0.18USD what a big mistake. Now price skyrocketed to 0.3USD and that is not all, there is a possibility that ICON will grow more,  tradingview is very positive: https://www.tradingview.com/ideas/icon/.

The growth of any altcoin will depend on the fundamental of its market. Even the POS system will not give you a guarantee if there will be a lot of people interested to keep and stake them all to get the interest from the blockchain dude. I were missing the bottom too.

It cannot be dead, it still has a value.
I guess you are not aware that this happens to most of the coins, that's the effect of bear, it's not unique in the market.
Try to look at PPT graph, it's one of the most popular in the market but still has the similar graph.


https://coinmarketcap.com/currencies/populous/

Icon is not dead and most cryptocurrencies are having the same chart pattern.  The market is generally down and there is nothing any single coin like icon can do different.  I think as everything get bullish again we would see icon rise along. 

Correct we are on bear market and maybe that's one of the reason on why it encounter a dump, and maybe it's best for us on not to hold on some shits right now since at this point the market is unstable but if the bull comes I think all potential alts will follow.

The main question was why ICON dropped so much, I know that they are not dead, but I do not understand such big drop when the coin is one of the most promising in top 100. For example PundiX or Binance coin are pretty stable.

Of course, the situation in each case is still affected by the poor state of the cryptocurrency market, and therefore even the most promising projects could not show any results. Cryptocurrency users will not sell these coins anyway, because they believe in their prospects in the future.

Pertaining to the bearish market if you look around there are many coins that have a graph like this and I think it is pretty normal because as I said we are still recovering from the drop of bitcoin and many cryptocurrencies is in a dilemma right now, Even if the people behind a said coin is still motivated in working how they can recover from the loss it is pretty impossible for them if they are just riding the waves of bitcoin, I sure think that even if you already made an investment to this kind of coins maybe there will still be a chance to regain your investment in the upcoming bull run.

Probably because he is so concern about this coin, not only that he will regain his investment but he can still make money.
How? Just by simply buying the current value now which is very cheap, the project is still good, the development continued and the price downtrend is not a big issue for its possible future success.

Market is in bear so expect this from happening,look at bitcoin who lose value for more than 6x so what will happen to the other altcoins?this is normal as long as the coin isn’t dead at all

There are some shitcoins that already die in this bearish market and lets hope ICOn is not one of them ,and looking at the chart seems like the coin is legit

As a coin that you described I would definetely pick utility tokens, tokens that can be used only on some platform. But 99% of all these platforms are useless. While ICON aims to  connect blockchains altogether  :).

Good question, for me, this is just unbelievable... seem so promising in the past, but it sinked like Titanic. Luckily i realized about the token swap just when they extended the period to apply for it.. otherwise, nowadays i would have only ERC20 ICON tokens worth 0!

It's a combination of the overall bear market and also as others have said the high reward of 12% per month. It's not a dead coin by any means, so there is still hope. There are plenty of charts that look like that, remember it is still a young project.

This I didn´t know that also ICON was an ERC-20 token.   ;D I am so happy that I discovered ICON now when it is so undervalued and if it reaches ATH again it will make 4200% return!

 I understand this feeling. I have been targeting ICX. This is a rare situation and it seems they are silent in preparation for a great plan. all need a preparation. But the good thing is that they always have enough money to pay dividends to shareholders. I think we should buy ICX soon to see great events.

wow, this is really a heavy slump of ICX. up to the present time they should make efforts to improve the financial situation of businesses as well as their partners. I have not seen any positive news from them since early 2019 until now. They gave up and will soon be relegated.

Well all altcoins that are legitimate or even some of the shitcoin have their own time when they will retrace back and we know that ICON is not a dead project instead it was progressive so to conclude this they are capitulating some of this altcoins to shaken those who are relying on the last support of the price or some might have a double bottom. Trading is all about patience and researching on the project itself and not only basing on its price.

I fully agree with you, because any projects can be blamed for poor development, and they are not to blame for anything, since it is the cryptocurrency market that influences their development. Nevertheless, I would like to note that there are projects that, even with the current state of the cryptocurrency market, show very good growth results.

that means that not all projects affect the current crypto market conditions. all looks at the performance of the developer how they produce their own market in order to keep their prices on the market.

Yes, ICON is still undervalued coin due to because of market fluctuation, maybe last year they announced this year they are going to launch their decentralised platform for trading but before that they will shift from ETH blockchain to their own blockchain.

When we talk about market condition, the question we need to ask ourselves is what is the market condition itself and why do we believe so much that it is the condition affecting one that has to affect others too. To me, crypto currency gets its value as a result of the adoption and the amount of money pumped into the market.

Hence, if any coin succeeds in playing its game well and attracting investors to pump in big money into its project then what does the general market condition as believe have to with them. These market conditions we are talking about, I blame it really on a lot of new coins coming up which is making the money meant to be pumped into the already existing ICOs being distributed to other smaller ones that has no future.

Lets talk about some cool features and not only about the price.
Do you think that they will really develop the solution for connecting all blockchain together by Loopchain?