ICY: New Volume Peaks in March While Rate is Stable

Avatar for Martijn Hoogeveen

The trade volumes of the ICURY (ICY) at Nocks are steadily growing. On March 3, a new day volume peak at 1774 euro was reached. Exactly one month before the liquidity peak was a mere 365 eur. Multiple peaks could be seen this month. Nocks, where the ICURY is traded against euro, is currently our most liquid market.

Why is liquidity increasing?

What are the reasons for the increased liquidity? The main reason is that Icecat is actively making use of the ICURY as its loyalty token for new and existing users, clients and sales bonuses for its existing business and within its existing global ecosystem. Without providing any guarantees to the market, to avoid the token been seen as a stablecoin, Icecat is also regularly purchasing tokens back to ensure some liquidity.

ICURY insensitive to market meltdown

Most of the trade is in a price bandwidth of 2 and 3 euro cent, whereby the rate escaped the downward trend of the crypto market during the recent Krach. Icecat is constantly approached by exchanges with listing proposals. But, given the quickly changing regulatory environment in the world for exchanges and wallet providers, it’s very hard to find other exchanges that are AMLD5 compliant. It will take some time, and it’s probably smart to sit out the current market meltdown.

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