ICON (ICX) Drops By More Than 9% In Price Following Bitcoin’s Recent Crash
The whole crypto market is crashing once again. Bitcoin (BTC) fell by more than 5% during the past 24 hours, and the king coin dragged the market along.
At the moment of writing this article, the most important coin out there is trading in the red just like the other digital assets and it’s priced at $9,056.91.
It’s been list revealed that crypto analysts are expecting this recent fall in the price of BTC to drag the king coin below $9,000.
This is due to various factors, but one of them is reportedly the decline in the S&P 500.
“However, now that we have also seen a decline in the S&P 500 (SPX), traders are more confident about entering short positions again,” Crypto Daily notes.
ICON’s ICX in the crypto market
At the moment of writing this article, ICON (ICX) it’s also trading in the red and the coin is positioned on the 46th place on CMC.
The crypto is down by more than 9% in the past 24 hours and it’s currently trading at $0.302250.
Before this crash, ICON enthusiasts were expecting to see some important gains and some were even hoping that the coin could be able to even surpass Bitcoin in terms of gains these days.
In other news, ICON has been making headlines a lot lately due to all kinds of important achievements but also bold plans and upcoming events.
It’s been recently revealed that ICON just made an exciting announcement on their Twitter account about a future event.
Preregister for @ICONHyperhack!
️Registration & Submissions: June 19th ~ August 19th
Added consideration for ICON grant up to $50,000 (independent review)
Acceleration from @Hyperconnector_
— Markus | ICON Hyperconnect P-Rep (@markusjayvc) June 12, 2020
“ICON Hyperhack is a two-month online ICON hackathon hosted by ICON Hyperconnect P-Rep that will begin registrations and submissions on June 19th on Devpost,” the official blog post notes.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.