In Bear Market, Korea’s Biggest Crypto Project ICON Showed Solid Progress

In Bear Market, Korea’s Biggest Crypto Project ICON Showed Solid Progress

THELOGICALINDIAN - A goodbye agenda from Deblocks nowformer Head of Research appear the advance of their ICON blockchain activity in all these months And they looked acutely positive

As he larboard the aggregation to accompany his startup, Markus Jun acclaimed ICON as one of the actual few blockchain projects that showed cogent accomplishments admitting blockage central a bleeding crypto market.

“My time at Deblock and ICON coincided with one of the affliction downturns in the cryptocurrency market. In animosity of this, I can say that the ICON aggregation has fabricated absurd progress,” Markus wrote while asserting that their interoperable blockchain activity till this date leads the South Korean blockchain industry.

“I’ve apparent ICON advance for cogent advance in legitimizing blockchain and cryptocurrencies with the Korean Government, accepting the Minister Award for actuality an industry baton in the blockchain space, and ablution demonstrations and several projects in affiliation with the Seoul Metropolitan Government. I’ve apparent several hires in every ICON department, including chief positions, best of which weren’t fabricated accessible and the aggregation is still actively hiring to this day.”

Markus additionally brought focus to ICON’s all-embracing amplification stories, which included the barrage of their all-around accelerator program ICONLOOP in affiliation with the Singapore government, followed by its assiduity in Tokyo and San Francisco.

“Beyond this, there are advancing efforts to aggrandize ICX Station globally. All things considered, it’s bright that ICON isn’t absolution the bazaar abatement affect them in affective forward,” Markus explained.

The said amplification is additionally bringing admired ally to ICONLOOP. In accession to the Seoul government, ICON has acquired abutment from LINE, Smilegate, Kyobo Insurance, and Jeju Island to advance blockchain solutions for them. It all-embracing makes a abiding use-case for ICON’s ICX accessible network, advertence a abiding advance for its built-in badge ICX as well.

Solvent afterwards Crash

At the time of the ICO, ICON’x ICX badge auction aloft abutting to 75,000 ETH. Their smart contract breach the funds into 30 abstracted Ethereum wallets. Between December 2016 and November 2018, ICO aggregation confused about 70% of their funds to added portfolios – conceivably as allotment of a sale. After the post-ETH blast adjusments, the aggregation holds about $5 actor in ETH reserves.

The abstracts prove that ICON is far from actuality bankrupt at this time, in adverse to several added ICO projects that accept either gone out of business or in a money crisis.

Forrester Research’s arch analyst Martha Bennett predicts that a majority of these ICOs are branch appear an absolute afterlife in absence of users and funds.

“Sooner or later, this would accept led to a abbreviating anyway. The crypto blast acted as both agitator and wake-up call.”

Big crypto startups like Coinbase and ConsenSys accept additionally laid off advisers in the accomplished two months, advertence that the crypto market, in general, is active out of money.

ICON, with a absolute business archetypal and an accretion use-case amid acclaimed organizations, could still survive the bloodbath attributable to an absolute appeal for service.

“I’ve apparent the best of ICON in the affliction of times. That’s why I’m assured ICON is actuality to stay,” Markus noted.