Binance, the cryptocurrency trade platform behemoth, will help the ICON ICX mainnet token swap. The platform introduced the transfer in a weblog publish on its web site on June 13, 2018. The announcement probably brings to an finish the confusion over the standing of ICX mainnet and ERC-20 ICX tokens.
Particulars of the Token Swap
Based on the Binance assertion, the platform will droop all ICX deposits and withdrawals starting June 20, 2018. ICX holders have till that point to switch their ERC-20 ICX tokens to Binance. The platform will deal with the required back-end technical processes for the token swap. The trade additionally revealed that ICX deposits and withdrawals will recommence as soon as the mainnet stabilizes.
— Binance (@binance) June 13, 2018
The ICON mainnet launched on January 24, 2018. Based mostly on the unique ICON roadmap, the token swap was presupposed to happen in Might 2018. Delays over the swap have heightened apprehension amongst ICX holders, a few of whom bought the tokens throughout its all-time excessive (ATH) of $12.
A part of the rationale for the delay was the lack of the undertaking group to resolve on the precise mechanism for finishing up the token swap. Again in April 2018, the group provided two potential routes – by way of its ICONex pockets or via chosen trade platforms.
ICX/USDT Buying and selling Pair
Along with the token swap, Binance additionally introduced a brand new ICX/USDT (Tether) buying and selling pair. Based on the platform, buying and selling opens for the cryptocurrency pair on June 13, 2018.
On the time of this writing, the value of ICON is $1.90 – ICX tokens are down by greater than 6 % within the final 24 hours regardless of the Binance token swap announcement. For a quick interval after the announcement, ICX spiked to $2.06 however has since dropped beneath the $2 mark.