The market has been in the dip since the beginning of June. Prior to that, in May virtual assets trimmed the gains that had been accrued over April this year. While major coins and altcoins are struggling to keep the prices up, smaller altcoins have been achieving various important milestones despite the overarching corrections in the market. In our weekly investor insight coverage, we will dive into the two most promising coins in June: Dignity (DIG) and ICON (ICX).
This is a South Korean-based cryptocurrency that intends to be the largest blockchain in the world. It wants to achieve what is referred to as hyperconnectivity. It is currently using its chain to connect hospitals, institutions, business enterprises as well as insurance firms among others. The network is fully decentralized, besides it allows the linking of various blockchains to commands which in turn communicate and carry out the cross-chain transaction without the need for an intermediary. The network allows any developer to link his/her blockchain to ICON chain. Besides, the developers can link new chains with existing chains to come up with entirely new ecosystems or blockchain multiverse. ICON (ICX), on the other hand, works as a complete ecosystem on its own.
The company is already working with several universities in South Korea. Moreover, hospitals, insurance firms, banking institutions, and securities have adopted ICON system. ICON believes that “a future with faster money remittance and frictionless value exchange of securities, medical records, academic data, and insurance fees is within our reach.”
ICON is also working hard to expand its list of strategic partners to ensure continued adoption of its technology. It has a big advantage to other assets in the market because of the close access to huge companies like Samsung, Wanchain, Hyundai as well as Aion, all of which have already signed partnership agreements with ICON.
ICON (ICX) is currently trading at $2.50, although it traded highs of $12.20 in January 2018. The crypto has walloped in selling pressure, but it also presents the best buy opportunity because of the potential exemplifies. The above developments will eventually boost the price above $10.00, moreover, it attempted to break above $5.00 in May before correcting lower towards the beginning of June.
This digital asset recently rebranded from Unity Ingot. It also altered the original vision, but still is striving to keep the legal asset idea that was accorded to Unity Ingot. The token is now referred to as Dignity (DIG). Furthermore, the team has reduced the smart contracts from 10 billion to only 3 billion. The aim is to ensure that DIG tokens are backed by $1 of gold per token. This is intended to ensure that the coin has limited fluctuations. Moreover, it becomes one of the few coins in the market to have a physical store of value in form of either gold or silver.
Dignity (DIG) Price Overview
The token is trading at $0.117 at the time of writing, in spite of the lower corrections; over 19% on the day. The selling pressure in the market has not spared the Dignity price which traded all-time highs of $0.29. DIG/USD traded above $0.16 at the beginning of June. Dignity price is currently facing short-term resistance at $0.15, however, the bulls are looking forward to $0.20 as we head towards the weekend trading sessions.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.