Investing.com - At one point recently, the cryptocurrency was up 1,900% from its launch in October, going from just pennies to almost $11.Though ICON has since swung high and low with the rest of the market, it is now the 15th largest cryptocurrency based on market capitalization, at more than $3 billion.What's behind ICON's rapid rise is unclear, but the beginning of its rally seems to have coincided with its listing on the Binance exchange in early December. The majority of trading in its coin, known as ICX, still takes place on that exchange.ICON was developed by South Korea's Dayli Financial Group, whose goal is to connect dozens of blockchains through its technology called the loop. ICON has already established partnerships with banks, hospitals, insurers and universities in South Korea.