Binance Announces Support for ICON (ICX) Mainnet Token Swap

Neutral Binance Announces Support for ICON (ICX) Mainnet Token Swap

Binance, the cryptocurrency exchange platform behemoth, will support the ICON ICX mainnet token swap. The platform announced the move in a blog post on its website on June 13, 2018. The announcement likely brings to an end the confusion over the status of ICX mainnet and ERC-20 ICX tokens.

Details of the Token Swap

According to the Binance statement, the platform will suspend all ICX deposits and withdrawals beginning June 20, 2018. ICX holders have until that time to transfer their ERC-20 ICX tokens to Binance. The platform will handle the necessary back-end technical processes for the token swap. The exchange also revealed that ICX deposits and withdrawals will recommence once the mainnet stabilizes.

#Binance Supports #ICX Mainnet Swap and Adds $ICX/USDT Trading Pair https://t.co/Wn3NTexF9u pic.twitter.com/tGf5dpLXXF

- Binance (@binance) June 13, 2018

The ICON mainnet launched on January 24, 2018. Based on the original ICON roadmap, the token swap was supposed to take place in May 2018. Delays over the swap have heightened apprehension among ICX holders, some of whom purchased the tokens during its all-time high (ATH) of $12.

Part of the reason for the delay was the inability of the project team to decide on the exact mechanism for carrying out the token swap. Back in April 2018, the team offered two possible routes - via its ICONex wallet or through selected exchange platforms.

ICX/USDT Trading Pair

In addition to the token swap, Binance also announced a new ICX/USDT (Tether) trading pair. According to the platform, trading opens for the cryptocurrency pair on June 13, 2018.

At the time of this writing, the price of ICON is $1.90 - ICX tokens are down by more than 6 percent in the last 24 hours despite the Binance token swap announcement. For a brief period after the announcement, ICX spiked to $2.06 but has since dropped below the $2 mark.

ICON is an interchain blockchain network that seeks to enable seamless interaction between different decentralized networks. With ICX as the intermediary token, ICON aims to allow networks like Bitcoin and Ethereum to communicate without any loss of autonomy for either blockchain.

The project also wants to provide interchain transaction services where a DEX reserve determines the exchange rates of cryptocurrencies. According to CoinMarketCap, it is the 23rd-ranked cryptocurrency, with a market capitalization of $762 million. ICON recently inked a massive partnership with LINE to create 'Unchain.'

Will ICX investors be able to rest easier now after the Binance announcement? Share your views with the community in the comment section below. Images courtesy of Twitter/@binance, CoinMarketCap.

06/13/2018 / 23:00:20 Source: bitcoinist

BTC
1 BTC=$5,655.84
XRP
1 XRP=$0.4626
ETH
1 ETH=$179.78
XUC
1 XUC=$3.50
BCH
1 BCH=$444.27
EOS
1 EOS=$4.67

News Feed 50

Newsbtc Neutral - #Ethereum Price Analysis: ETH/USD Sellers Back In Driver’s Seat read more.
11/15/2018 / 08:28:55
Cryptopotato Neutral - #Bitcoin Price Analysis & Yearly Overview Nov.15: Where will this stop? read more.
11/15/2018 / 08:16:42
Themerkle Neutral - XRP Overtakes Ethereum’s Market Cap as Price Recovers Faster read more.
11/15/2018 / 08:07:09
Ccn Neutral - Ethereum GPU Mining Profitability Has Declined Dramatically: New Research read more.
11/15/2018 / 08:05:49
Coinnounce Neutral - Cryptocurrency Market losers of the day: BCH, XLM, IOTA, ETC and ADA read more.
11/15/2018 / 07:35:50
Newsbtc Neutral - #Bitcoin Cash Price Analysis: BCH/USD Crash Could Gain Pace Below $400 read more.
11/15/2018 / 07:30:20
Coindesk Neutral - Bitcoin Miner Canaan’s IPO Looms as Filing Status Now ‘Lapsed’ read more.
11/15/2018 / 07:24:38
Cointelegraph Neutral - CoinShares CSO Demirors Urges Calm Among Bitcoin Investors as Prices Slide 12 Percent read more.
11/15/2018 / 07:13:00
Cryptonewsreview Neutral - Crypto markets fall: Bitcoin price holds at $5,600; Top 10 coins all see big losses 24hrs read more.
11/15/2018 / 07:10:43
Livebitcoinnews Negative - #Bitcoin Price Analysis: BTC/USD What Caused That Sharp Drop? read more.
11/15/2018 / 07:00:34
Livebitcoinnews Neutral - Australian Taxpayer Scammers Favor Bitcoin over iTunes Vouchers read more.
11/15/2018 / 07:00:33
Ccn Neutral - Crypto Carnage: Market Loses Staggering $26 Billion in 24 Hours, Where to Next? read more.
11/15/2018 / 06:33:50
Cryptoglobe Neutral - Ripple Partners With Malaysian Universal Bank CIMB Group to Expand RippleNet read more.
11/15/2018 / 06:32:30
Newsbtc Negative - #Ethereum Classic Price Analysis: ETC/USD Tumbles To New 2018 Low read more.
11/15/2018 / 06:28:30
Coinnounce Neutral - #Ripple Price Analysis: Will XRP fall ahead? read more.
11/15/2018 / 06:19:54
Cryptonewsreview Neutral - Planned Bitcoin mining company’s IPO looks dead read more.
11/15/2018 / 06:16:16
Themerkle Neutral - To Hodl or to Sell, the Question Every Investor Is Grappling With in This Bear Market read more.
11/15/2018 / 06:12:09
Bitcoinist Neutral - Bitcoin Technical Analysis: Bitcoin Cash Civil War Drives BTC to a 1-Year Low read more.
11/15/2018 / 05:51:05
Cryptonewsreview Negative - $30m exit scam: CEO behind it looks like they’ve got the guilts read more.
11/15/2018 / 05:49:22
Cryptonewsreview Neutral - Bank Of America has a new cryptocurrency patent read more.
11/15/2018 / 05:30:43
Coindesk Neutral - After the Fork: How Competing Bitcoin Cash Blockchains Might Wage War read more.
11/15/2018 / 05:00:42
Newsbtc Neutral - #Ripple Price Analysis: XRP/USD Nosedives, Turns Bearish Below $0.4600 read more.
11/15/2018 / 05:00:25
Themerkle Neutral - Crypto Price Watch: Bitcoin (BTC) Plummets to Annual Low While Other Top Altcoins Also Face Market Heat read more.
11/15/2018 / 04:40:52
Bitcoin.Com Neutral - Bitcoin ATMs Most Common Scam Payment Method in Australia read more.
11/15/2018 / 04:35:00
Newsbtc Negative - Over $28 Billion Dumped in Crypto Market’s Largest Crash of The Year read more.
11/15/2018 / 04:19:40
Ccn Neutral - Another One Bites the Dust: Google Account Hacked in Twitter Bitcoin Scam read more.
11/15/2018 / 03:27:02
Coindesk Neutral - Buy or Sell? What Traders Think About Tomorrow’s Bitcoin Cash Fork read more.
11/15/2018 / 03:01:44
Livebitcoinnews Neutral - Switzerland’s SEBA Says It’s on the Verge of Obtaining a Banking and Securities Dealer License read more.
11/15/2018 / 03:00:50
Cointelegraph Neutral - Poll: Interest in Crypto as Payment Method Makes Small Inroads Among Moscow Residents read more.
11/15/2018 / 02:58:00
Bitcoin.Com Neutral - Stablecoins Fetch a Premium as BTC Hits Year Low read more.
11/15/2018 / 02:55:14
Cointelegraph Neutral - Four Fake Cryptocurrency Wallets Found on Google Play Store read more.
11/15/2018 / 02:25:00
Ccn Negative - Guilty Conscience? $30M Crypto Exit Scam in South Korea Refunds Victims read more.
11/15/2018 / 02:20:09
Newsbtc Neutral - #ETH/USD Price Analysis: Below $200 ETH Mining is Useless, Hash Rate Drop read more.
11/15/2018 / 02:10:53
Newsbtc Neutral - #Bitcoin Cash Price Analysis: BCH/USD Could Test $300 or $850 by End Week read more.
11/15/2018 / 02:05:22
Newsbtc Neutral - #Bitcoin Price Analysis: BTC/USD Must Dump before Bulls Reign in 2019 read more.
11/15/2018 / 02:00:16
Cryptoglobe Neutral - NEO Founder: Blockchain Over-Regulated, Promotes the Emergence of a New Regulatory System read more.
11/15/2018 / 02:00:00
Ccn Neutral - Nearly 1% of the Total Ethereum Supply is Locked in the MakerDAO Smart Contract read more.
11/15/2018 / 01:15:54
Cointelegraph Neutral - Malaysian MP Urges Gov’t to Create Regulations Before Approving Political Funding Coin read more.
11/15/2018 / 01:13:00
Livebitcoinnews Neutral - Maecenas Teams Up with John McAfee to Tokenise Picasso Painting on the Blockchain read more.
11/15/2018 / 01:00:59
Bitcoin.Com Neutral - Russian Developers to Help Iran Build Its Crypto-Economy read more.
11/15/2018 / 00:55:42
Themerkle Neutral - Fork Drama Sends Cryptocurrency Markets Spiraling Past Double Digit Losses read more.
11/15/2018 / 00:38:39
Ccn Neutral - Marshall Islands President Survives Crypto-Infused No-Confidence Vote read more.
11/15/2018 / 00:20:54
Cointelegraph Neutral - New York Digital Investment Group Subsidiary Acquires New York BitLicense read more.
11/15/2018 / 00:12:00
Themerkle Neutral - As Bitcoin Dropped Sharply, The Reactions Differed Greatly read more.
11/15/2018 / 00:07:54
Newsbtc Neutral - Australian Taxpayers Have Paid $1 Million to Scammers Through Bitcoin ATMs Since July read more.
11/15/2018 / 00:00:47
Ccn Neutral - Op-Ed: Will Crypto Miners Abandon Craig Wright’s Bitcoin Cash Fork? read more.
11/14/2018 / 23:25:12
Bitcoinist Neutral - Earnings Season: Traders Shift From Cooling Crypto Market to Volatile Stocks read more.
11/14/2018 / 23:00:20
Newsbtc Neutral - Tokyo Police Crackdown on Alleged Crypto Pyramid Scheme, Arrest Eight Individuals read more.
11/14/2018 / 23:00:10
Livebitcoinnews Neutral - Retail Giant Target Becomes Latest Victim of Bitcoin Twitter Scam read more.
11/14/2018 / 23:00:02
Cryptoglobe Neutral - Rosetta Coffee Company Now Accepts Cryptocurrency Payments Via New E-Commerce Platform read more.
11/14/2018 / 23:00:00
Negative
3.2%
Neutral
95.3%
Positive
1.4%
Mixed
0.1%

Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.