ICON, and WanChain Record Massive Gains Despite Low Bitcoin Volumes
Tokens have recorded massive 20 to 40 percent gains on August 26 while major cryptocurrencies like Bitcoin and Ethereum maintained their low price range. Bitcoin has remained relatively stable in the $6,700 region in the past 24 hours as Ethereum, Bitcoin Cash, Ripple, EOS, and Stellar all recorded slight losses in the range of 0.5 to 1.5 percent. Unexpectedly, the price of ICON, Ontology, WanChain, Nano, WaltonChain, and Aion surged against both Bitcoin and USD. Against Bitcoin, Nano, Dent, and ICON recorded 33.5 percent, 33 percent, and 20 percent gains respectively, as the three best performing cryptocurrencies of August 26. Historically, at least throughout 2018, tokens have followed the price trend of Ethereum, Ripple, and EOS, with intensified movements on both the upside and downside.Yet, on August 26, despite the slight decline in the price of EOS and Ethereum, tokens have recorded a 5 to 10 percent rise in value on average.The surge in the price of ICON, the second best performing cryptocurrency of the day, can be attributed to the team’s plan to buy back $5 million worth of ICX in the short-term, which the ICON team disclosed as one of their several initiatives of 2018.