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=$3,653.33
XRP
1 XRP=$0.3264
ETH
1 ETH=$121.23
XUC
1 XUC=$1.97
EOS
1 EOS=$2.48
BCH
1 BCH=$127.59

News Feed 50

Cryptopotato Neutral - Bakkt Futures by ICE is Now Supported by World’s 23rd Richest Man Li Ka-Shing read more.
01/09/2019 / 08:47:17
Themerkle Neutral - NEO Price Gains 12% Despite Malcolm Lerider Departure read more.
01/09/2019 / 08:35:28
Ccn Neutral - Indian Police Make Fourth Arrest in $70 Million Crypto Scam read more.
01/09/2019 / 08:33:42
Cryptonewsreview Neutral - Kraken defends trading of Ethereum Classic, attacks XRP, angers Ripple tech boss read more.
01/09/2019 / 08:32:20
Dailyhodl Neutral - One of the Richest Men on Earth Backs Bitcoin and Crypto, Plus Ripple and XRP, Tron, Stellar, Ethereum, Litecoin, VeChain, IOTA: Crypto News Flash read more.
01/09/2019 / 08:05:10
Ambcrypto Neutral - Litecoin [LTC/USD] Technical Analysis: Cryptocurrency to move along with the bulls on a long run read more.
01/09/2019 / 08:00:38
Newsbtc Neutral - Crypto Market Wrap: NEO Jumps Two Places With 13% Gain read more.
01/09/2019 / 08:00:10
Cryptoglobe Neutral - ShapeShift CEO Says Crypto Is a ‘Harsh Mistress’, Lays Off 1/3 of Staff read more.
01/09/2019 / 07:40:00
Coindesk Neutral - Security Token Offerings: A Way Past the SEC’s Incomplete Crypto Guidance? read more.
01/09/2019 / 07:15:47
Ethereumworldnews - Could Russian Rumors Be Reviving NEO? Surges 15% Today read more.
01/09/2019 / 07:01:58
Ambcrypto Neutral - Tron [TRX] grows steady with 9% hike; Litecoin [LTC] holds strong despite strong resistances read more.
01/09/2019 / 07:00:37
Newsbtc Neutral - Bitcoin Price Watch: BTC Buyers Not Out of Woods Yet read more.
01/09/2019 / 07:00:22
Ethereumworldnews Neutral - Tron (TRX) Rally Looks Real, Price Could Test $0.0350 read more.
01/09/2019 / 06:45:59
Ccn Neutral - Ripple CEO to Critics After Obtaining 200 Clients: Banks Will Use XRP read more.
01/09/2019 / 06:36:40
Cryptonewsreview Neutral - Neo continues to climb, continuing its excellent start to 2019 read more.
01/09/2019 / 06:28:44
Cryptoglobe Neutral - Gold Backed Crypto Exchange Offers Safe Haven for Crypto Investors read more.
01/09/2019 / 06:20:50
Newsbtc Neutral - #Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis read more.
01/09/2019 / 06:00:54
Ambcrypto Neutral - Bitcoin IRA launches turnkey, white-label solutions for enterprise businesses read more.
01/09/2019 / 05:45:21
Cryptonewsreview Neutral - Litecoin founder on the 51% attack problem read more.
01/09/2019 / 05:41:24
Bitcoin.Com Neutral - Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies read more.
01/09/2019 / 05:30:28
Cryptonewsreview Neutral - Google is causing problems for a Bitcoin wallet provider read more.
01/09/2019 / 05:28:51
Cryptonewsreview Neutral - Cryptocurrency exchange cuts back staff, admits mistakes read more.
01/09/2019 / 05:25:45
Coindesk Neutral - The Case for a 2020 Bitcoin Bull Run read more.
01/09/2019 / 05:25:42
Dailyhodl Neutral - Tron (TRX) Rallies 34% in One Week, Gears Up With BitTorrent Crypto Token and Binance Launchpad read more.
01/09/2019 / 05:11:52
Coingape Neutral - Bitcoin less Centralized Compared to Ethereum and Bitcoin Cash- Long Hash Research read more.
01/09/2019 / 05:10:45
Bitcoinerx Neutral - New Sanctions Could Push Russia to Dump the US Dollar in Favor of Bitcoin read more.
01/09/2019 / 05:00:49
Newsbtc Neutral - #Ripple Price Analysis: XRP Eyeing Upside Break Above $0.37 read more.
01/09/2019 / 05:00:11
Newsbtc Neutral - #Ethereum Price Analysis: ETH Consolidating, Buyers Could Take Control read more.
01/09/2019 / 04:08:28
Bitcoinist Neutral - State of Emergency read more.
01/09/2019 / 04:00:50
Ethereumworldnews Neutral - #Litecoin (LTC) Price Analysis: Slow But Steady Climb read more.
01/09/2019 / 03:51:39
Cryptoglobe Neutral - Malta's Government 'Completely Silent' About Crypto Development 'Over Holidays', Nation's Opposition Leader Claims read more.
01/09/2019 / 03:50:00
Ethereumworldnews Neutral - #Bitcoin (BTC) Price Analysis: Another Attempt to Break Higher read more.
01/09/2019 / 03:31:02
Bitcoin.Com Neutral - Central Bank Official: Regulators Are Hindering the Development of Cryptocurrencies read more.
01/09/2019 / 03:10:36
Cryptoglobe Neutral - Brave Announces Growth Stats: Surpasses 5.5 Million Monthly Active Users read more.
01/09/2019 / 03:00:00
Cointelegraph Neutral - Square’s Cash App Blocks Account of Social Media Site Gab’s Founder: Report read more.
01/09/2019 / 02:45:00
Ccn Neutral - President Trump Makes His Case for a Border Wall as Economy Hangs in the Balance read more.
01/09/2019 / 02:16:53
Cryptoglobe Neutral - Who Will Win the Race to be the “Crypto Valley of Asia”? read more.
01/09/2019 / 02:00:00
Dailyhodl Neutral - Bakkt – Why a Successful Launch Could Boost the Cryptocurrency Market read more.
01/09/2019 / 01:37:02
Ccn Neutral - Could Japan’s Approval of the Bitcoin ETF Affect US SEC’s Decision? read more.
01/09/2019 / 01:31:17
Bitcoin.Com Neutral - Review: Wasabi’s Privacy-Focused BTC Wallet Aims to Make Bitcoin Fungible Again read more.
01/09/2019 / 01:10:11
Ethereumworldnews Neutral - Crypto Startup CEO: “Gut Feeling” Is That Bitcoin (BTC) Will Fall Under $3,000 read more.
01/09/2019 / 01:00:38
Newsbtc Neutral - Data Suggests That Bitcoin Is Seeing Increasingly Bullish Sentiment read more.
01/09/2019 / 01:00:31
Bitcoinist Neutral - Yellow Vests in France Planning a Bank Run to Collapse the Euro read more.
01/09/2019 / 01:00:30
Cryptoglobe Positive - Cudo Mining Software Lets Users Mine According to Profitability read more.
01/09/2019 / 00:50:00
Ambcrypto Neutral - Bitcoin Cash [BCH] Technical Analysis: Bear picks up the pace taking over the market read more.
01/09/2019 / 00:30:52
Ccn Neutral - Anti-Bitcoin JP Morgan CEO Jamie Dimon: No Recession Ahead, Dow is Rebounding read more.
01/09/2019 / 00:20:24
Cryptoslate Neutral - World’s 23rd Richest Man Invests in Cryptocurrency Exchange Bakkt’s First Funding Round read more.
01/09/2019 / 00:18:25
Cointelegraph Neutral - Litecoin’s Charlie Lee: Decentralized Crypto ‘Must Be Susceptible to 51% Attacks’ read more.
01/09/2019 / 00:17:00
Newsbtc Neutral - Cryptocurrency Bear Market Pressures Shapeshift into Layoffs read more.
01/09/2019 / 00:00:45
Cryptoglobe Neutral - Blockchain Community Returns to Its Founding Principles with Revolutionary New Smart Contract Investment Platform read more.
01/08/2019 / 23:55:42
Negative
3.0%
Neutral
94.2%
Positive
2.5%
Mixed
0.4%

Latest comments: