ICN has fallen sharply likely due to concerns over korean ban of icos. ICN invest heavily in icos. Because of this uncertainty the risk of this trade has gone up a lot, so I can no longer advise it.
STEEM has risen over 20% in the last 24 hours on the back of the recent announcement about SMT's.
Now I don't want to suggest that you buy STEEM here, although I don't think that is a bad trade, what I want to suggest is hopefully a higher percentage play.
Iconomi is a 'Digital Assets Management Platform' that allows you to buy and sell two products. The by far largest one is BLX
A basket of all the main cryptos, it is made up of 21 assets, the top 3 being Bitcoin 14.72% , Ethereum 14.59% and Dash 13.44%.
STEEM is the 7th biggest part of the portfolio with 5.45% of the value.
That is despite STEEM making up just 0.233% of the overall crypto marketplace. That means the BLX product on the iconomi is very overweight STEEM. (Nice to see I am not the only one with a lot of fate in STEEM)
OK why am I telling you all this? Because I smell an opportunity.
ICN is flat on the day, at -0.2%. This is despite its main product being so overweight STEEM and STEEM being up 20% on the day.
ICN is not BLX and can trade independant of it. Therefore while I expect ICN to trade up over the next few days to reflect its increased assets due to STEEMs increased value, it is possible it will not.
It is also possible the while we are waiting for ICN to readjust, some of its assets decrease in value and thereby negate the opportunity.
Buy ICN or increase your position in it until its price rises to reflect its increased assets.
Please do not invest on the advice of a stranger on the internet, only use this advice here as a starting point for your own research, and then if you choose to invest please only invest an amount that you can afford to lose.