Pictures…. Find out the main reason behind the decline in the price of the ICX currency in the recent period
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Answer Pictures…. Find out the main reason behind the decline in the price of the ICX currency in the recent period
The ICON and Digital Currency (ICX) project is one of the most famous projects in the cryptocurrency world. This is due to the strength of the work team and the strong partnerships that the project has held since its launch, but some wonder why we have seen the ICX currency drop continuously in recent times?
Everyone who follows ICON Tracker – a tool dedicated to tracking ICX coins – has noticed a noticeable increase in the number of coins traded in the market by nearly 18 percent.Read:Coinbase CEO: We now have $1 billion in trustee account
A few weeks ago, the number of ICX coins in circulation was 400 million coins, but this number suddenly jumped to 443 million coins, and then to more than 473 million coins, without any official comment from Icon . Foundation.
The absence of information and the team’s ignoring to comment on this matter caused some confusion among investors and spread many theories and rumors about the project.
The strange thing is that CoinMarketCap did not update its data for nearly a week, as the data indicated that the number of ICX coins in circulation reached 387 million cryptocurrencies.
The spread of these rumors is a negative thing for any project, especially since the work team remained silent about this matter and no official comment was issued.
but looking at ICON . Project Worksheet (Page 28) We find that the distribution of ICX coins is as follows:
- For sale: 50%
- For the institution: 14%
- For the community and strategic partners: 10%
- The team and consultants: 10%
- For backup: 16%
And rumors began to spread that the increase was due to the distribution of digital currencies (ICX) to the work team, the institution and strategic partners.Read:Binance announces the launch of a new digital currency (BTCB) backed by Bitcoin (BTC)
And theMinister of State from Hakim The founder of the ICON project responded to this news with a tweet stating that the project is in a stable financial condition, but we are using ICX tokens for agreements and partnerships with projects to develop our work.
Thus, the spread of rumors and the rise in the number of coins in circulation, in addition to the introduction of ICX digital coins when concluding agreements and partnerships, which causes huge sales, is the main reason for the decline in the price of the ICX digital coin in recent times.
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