ICX Update #2
One of the largest and riskiest investments I have ever made is into a South Korean cryptocurrency called ICX.
As of today, it’s the 60th largest crypto in the world by market cap but to me there is still massive potential. It’s small enough where the multiple can be meaningful, but large enough that it’s not some ridiculous asset that may never go anywhere.
It’s currently trading at $1.89 and I bought in at $.51 but I believe the upside for investors has yet to be realized.
At it’s peak during the crypto boom in 2017, ICX traded around $12 but it was early in its development and mostly around hype of crypto in general.
Since then, ICX has created partnerships with Samsung to start using ICON’s own unique way of authentication called Chain ID for their new project Samsung Pass. This will improve Samsungs actual bio-metric authentication system which is used on their mobile devices.
Very few cryptocurrencies have actual business partnerships.
Binance, one of the largest crypto exchanges (only slightly behind Coinbase) is allowing investors to stake their ICX and earn an 21% annual percentage yield. This provides validation that Binance believes ICX is a legit coin.
ICX being staked on a large exchange is validation.
ICX has a very large following of community support that are bullish on the long-term potential of the project. The project is international with decentralized teams supporting it all over the world.
ICX is a community driven project from people all over the world.
One of the founders and leader of ICX, Min Kim, is US educated from Columbia and Berkeley with work experience in banking and tech. While he is a soft spoken leader, I believe he has the operating capacity to execute for ICX relative to other cryptocurrencies.
The leader of ICX has professional background in technology and finance.
ICX is also planning to release applications for DeFi (decentralized finance) which will create products to onboard more users and solidify the true value of the asset.
With a potential ICX Coinbase listing and new applications on the horizon, ICX could make it back to the $12 range by the end of 2021.