The Ice Open Network went parabolic this week ahead of its mainnet launch, as more centralized exchanges listed it.
ICE token listings
The Binance-based Ice Open Network (ICE) surged to a high of $0.0097, its highest level since Feb. 24, and over 202% above its lowest level in August.
It then erased some of this week’s gains, dropping to a low of $0.0080 as the bullish momentum faded.
According to the developers, the token has been listed on 22 centralized exchanges, including LBank, Tapbit, Deepcoin, and Coinstore. The most recent exchange to list it was Deepcoin, which initiated the ICE/USDT pair with a $100,000 prize pool.
Most of the ION trading was happening on OKX, followed by HTX, Gate.io, and MEXC.
The ION network is an upcoming platform that aims to address the key challenges of centralization in today’s digital environment.
According to its white paper, it is built on the legacy of TON’s blockchain, which has grown to become a leading chain with over $800 million in assets.
It will introduce tools such as decentralized digital identity, social media, storage, databases, and content delivery networks, integrating these features into a single, scalable blockchain infrastructure capable of handling millions of transactions per second.
The ION token also jumped as interest among investors jumped. Data shows that it was one of the most searched cryptocurrencies on CoinGecko, CoinMarketCap, and CryptoRank this week. Its searches were more than popular coins like Sui (SUI), Bitcoin (BTC), and Hamster Kombat. ION was also the top gainer in the BNB Chan in the last seven days.
The next key catalyst for the token will be its mainnet launch, which the developers have said will happen soon. Cryptocurrencies often rally ahead of a big event like a mainnet launch.
Ice Open Network price analysis
The ION token rallied after forming a triple-bottom pattern at $0.0031 in March, April, and August. It broke above its neckline at $0.0060, the highest swing on June 7, and the triple bottom’s neckline.
It remains above the 50-day moving average, while the Commodity Channel Index has moved downward. There are also signs that it has formed a small shooting star candlestick pattern, a popular reversal signal.
Therefore, the Ice Open Network token will likely experience some volatility in the near term and then resume its bull run ahead of the mainnet launch.
