The cryptocurrency market has had a rough time in 2018, and ICON (ICX) is no exception. The asset saw its value drop by over 80% year to date. However, in recent days the value of the coin has surged by over 73% and now rests at $3.81 with a market cap of $1.48 billion. Could ICON be the next $10 billion coin?

What is ICON?

ICON can be described as a “blockchain of blockchains” that allows different communities and service providers to come together and create a network that is suited to fit community needs through smart contracts. ICON’s value proposition isn’t unique in the world of altcoins, but a string of positive developments has made the asset a profitable pick for many investors.

Earlier in the week, ICON was listed on Bithumb, one of Korea’s largest exchanges. This event caused the price to surge by almost $1.00. The asset has been well received in Korea where it is often called the “Korean Ethereum”. Right now, the Korean won makes up the vast majority of ICON trade volume, and activity is concentrated on the Upbit and Bithumb exchanges.

On top of all the other good news, the ICON team has announced an airdrop for users of the Bithumb exchange. This airdrop will give account holders 2-20 units of ICON tokens depending on the age of their account. But despite all the positive developments in ICON, investors should be careful not to get carried away. While the asset certainly seems to show promise, nothing is guaranteed in the risky world of altcoin investing.

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