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ICON (ICX) is Moving Forward with Token Swap and New Partnerships

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ICON seems to be moving forward with acquiring new partnerships and leading a pretty successful token swap while carefully watching over a token migration. The ICX team launched their own main net back in January leaving the Ethereum chain and seeking ultimate independence, as seen with EOS, TRX and several more currencies including DeepBrain Chain.

Since then, ICX has been working on hosting a successful token swap that should meet its end by September 25th of the following year.

ICON and the ICX Token Swap

As more and more currencies are moving from shared chains to going forward with releasing its own main net, ICX has been on the train to this market trend since January of the following year of 2018 when ICON released its own main net, that way leaving Ethereum chain.

The team ICX has gone forward with updating the public with how the things have been going with the initial token swap that started back in January at the beginning of 2018 when over 90% of currencies have marked their record prices.

It isn’t a strange case to encounter problems during token swaps and main net migration (remember EOS and the tension revolving g around their main net launching/token swap), as sometimes directions come as partially understandable or unclear to those users who are not as tech-savvy.

However, it seems that the migration of millions of dollars in ICX has been going on pretty smoothly in accordance with the team, while the ICX holders have confirmed the mentioned announcement.

Although launched back in January, the initial process of swapping ICX for ICX tokens started off a couple of days ago, marking the official start of the token swap on June 20th.

At this point, the exchange platforms that are able to support this token swap are Bithumb, Binance, and Upbit, so all holders will be able to have their tokens swapped on the mentioned exchanges by September 25th, when the token migration should be officially concluded.

ICONex Wallet to Support the Migration

Beside from having the above-mentioned exchange platforms supporting the token swap of ICX, in order to support the migration of their tokens and make the swap as smoothly as possible, the ICON foundation will be using their previously released wallet, ICONex.

ICONex was presented to the public back in February, as a digital wallet designed for keeping ICON units alongside with other supported cryptos.

Besides from its main purpose of keeping the coins safe, ICONex will serve the purpose of supporting the token swap of ICX native tokens starting from June 25th.

As far as the supporting exchanges concerned, Upbit, Bithumb, and Binance have frozen ICX for withdrawals and deposits for ICX.

Binance has stated on this matter that the ICX deposits and withdrawals will be enabled once the new main net of ICON foundation is proven to be safe and secure for live operations with native ICX tokens.

The safe period on the mentioned exchanges should end with the token swap finish by September 25th.

ICON is Scoring New Partnerships

ICON has been working on acquiring new partnerships for the past 30 days, and that is how the team ICX has made some strategic moves towards getting support for their network as well as joining the prediction market with the Qtum-based Bodhi Prediction Market.

Besides from joining the Qtum based Bodhi prediction network that uses blockchain technology for creating predictions of all sorts, the team ICX has also joined hands with Deloitte at the beginning of June when the two parties signed the memorandum of understanding, which is another strategic partnership for ICON.

Deloitte has already worked with over 30 different blockchain projects, and their collaboration with ICX will be based on promoting, developing and commercializing blockchain technology and of course ICX.

Another company set to provide strategic support for ICON is Carboneum, which is another one of their newly acquired partnerships.

Carboneum is a blockchain-based social trading platform, and as such will provide the needed support for the further development of ICON.

At last, back in May, ICX partnered up with Line, which is an Asian-based social network for messaging. With Line, ICON foundation will be pushing the project called Unchain.

With Unchain, Line will be operating on the ICX based network where Line will reward their users by deploying decentralized applications, news feed, games, messaging and chatting, shopping and allowing digital payments.

With around 200 million users actively using Asian Line, this messaging social network makes up for a perfect strategic partner for a blockchain project like ICON.

ICON (ICX) Performance

With the new wave of drops, ICX is showcasing another round of trading in the red, this time dropping by over -5% against the dollar.

With the latest change in the market, ICX can be traded at the price of 1.77$, that way showing a better situation in the market in oppose to the case on June 22nd.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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