Icon (ICX): Big promises but barely anything delivered. Time to get worried?

It is hard to stay positive in a gloomy market we are in for almost 6 months now. ICX holders have high hopes pinned to their coin, although the team behind the project hasn’t been up to the task lately.

There are some weak tremors of life from the coin but the outlook is pretty bleak right now.

Couple of positive news emerged in the last day or two, mostly related to exchanges and ICX.

First one is that Coss.io exchange will support ICX USD trading pair which is huge news. Trading directly for fiat is important for any altcoin that is trying to decouple itself from bitcoin. The more direct fiat gateways for a coin there are, the better.

Crypto One Stop Solution, otherwise known as COSS, aims to become the Swiss army knife of the crypto marketplace. For now, the main function of COSS is operating as a centralized profit sharing exchange and payment gateway. However, the platform’s roadmap unveils optimistic plans for the companies expansion into crowdfunding, prepaid cards, smart contracts, and remittances.

Another great news that broke out today is the announcement by the leading cryptocurrency trading platform, Binance, which revealed that they’d not only support the impending ICON (ICX) mainnet token swap, but would also add a ICX/USDT trading pair; putting ICON in an elite group of just fourteen cryptoassets to be tradable in all four markets on Binance.

The news gave ICX a short-lived price spike of around 10% that got erased almost as quickly as it appeared.

ICX community is also hopeful of getting a mainstream hardware wallet support for the ICX token since their mainnet token will not supported by neither of the two biggest providers – Ledger nor Trezor.

Read: Comparison of top 3 hardware wallets: Ledger vs Trezor vs KeepKey.

Also worth noting is that after the coins are swapped, you can no longer transfer those to an ERC 20 (ETH) Wallet. You will have to use the ICONex wallet.

However, the main problem most of the investors have with ICX team is their lack of communication and a habit of missing deadlines.

Their original roadmap went like this:

March, 2018 — Token Swap, Mobile wallet
April, 2018 — IISS launch, ICO platform
2018. Q2 — ICX/ETH DEX, Public Channel
So far, none of this has been done… other than an Android mobile wallet that’s not even useful now.


It seems some of these major altcoins with big promises are starting to show weaknesses now that the mania hype phase is over?  There is more and more “sloppiness” being shown by not only ICX but other big alts now that partnership announcements aren’t enough to help keep their prices up.

It is time for real work and delivery on your promises which, apparently, even the most trusted coins in the space can’t pull off. Making promises and announcing announcements is easy, creating real value is hard.

Some coins with a much worse reputation managed to adhere to the deadlines they set while Icon, that is highly regarded by many, missed the big events by couple of months. Is it time to get worried and exit ICX?

Hard to answer that but if the team doesn’t improve on their communication and general activity, investors will become even more dissatisfied which could trigger a sell off and a further price slump for ICX. Once you lose the trust, it is hard to regain it. ICX is playing with fire as the displease grows in their community. Let’s hope the mainnet launch goes as planned, that could shift the mood to the better.



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Sarah Wurfel
Sarah Wurfel

Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.

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