ICON what happened?

[timmmers]

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.

[1714784140]

1714784140

[1714784140]

1714784140

[1714784140]

1714784140

[CLywaTeLb]

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...

[Red-Apple]

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:

ICON still gives 12% monthly by staking 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

[Tstar]

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.

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. 

[timmmers]

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:

ICON still gives 12% monthly by staking 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

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.

[aceptamosbitcoin]

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:

ICON still gives 12% monthly by staking 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

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.

[Red-Apple]

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:

ICON still gives 12% monthly by staking 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

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.

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.

[MikeyVeez]

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:

ICON still gives 12% monthly by staking 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

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.

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  .

[jacafbiz]

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

[timmmers]

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.

[shamc]

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

[timmmers]

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 .

[timmmers]

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/.

[bitkanu]

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.

[Zooplus]

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/

[Idrisu]

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.

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. 

[CryptoCounselor]

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.

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.

[timmmers]

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.

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. 

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.

[AngellSky]

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.

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.

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.

[teilwalL05]

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.