ICON (ICX) Up 10% As Binance Declares Mainnet Support, New Trading Pair

Icon Cryptocurrency Coin Candlestick Trading Chart Background

Leading cryptocurrency trading platform, Binance, published an announcement at 12:40 AM (GMT-7) on Wednesday which revealed that they’d not only support the imminent ICON (ICX) mainnet token swap, but would also make available the ICX/USDT trading pair; making ICON just the fourteenth cryptoasset to be tradable in all four markets on Binance.

In order to conduct the transferral of ICON’s extant ERC20 Ethereum-based tokens across to its own blockchain (i.e., mainnet), Binance revealed that “starting from 2018/06/20 0:00 AM (UTC),” users of the leading crypto exchange will be unable to deposit or withdraw any ICX.

Once Binance “deem the ICX mainnet to be stable,” they will proceed to reopen ICX deposits and withdrawals.

For those holding ICX in their Binance account balances, they need not do anything extra to be included in the token swap; “all technical requirements” will be taken care of by the exchange’s engineers.

As for the addition of the ICX/USDT trading pair, it was made tradable just 20 minutes after Tuesday’s announcement (i.e., 08:00 UTC).

ICON’s ICX now represents the fourteenth cryptocurrency that is tradable against all four of Binance’s available pairs (i.e., Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and now Tether (USDT)).

Notably, yesterday’s addition of Ethereum Classic’s two remaining trading pairs (i.e., ETC/BNB and ETC/USDT) made the virtual token of Ethereum’s original blockchain the thirteenth member of this exclusive group.

Binance Spike Strikes Again

Looking at the below chart for ICX/USD (per TradingView), there is no guessing when the Binance announcement was shared with the public.

Indeed, in a 5-minute span, ICX jumped by 10.6 percent from $1.88 to $2.08, before experiencing the usual retracement all cryptocurrencies seem to endure post-Binance listing.


Image From Shutterstock

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