ICX to SODA Migration: 1.109 Billion ICX Still Sit on the ICON Chain, and Neither Chain Shows a Swap Count

If you hold ICX in your own wallet, you have until September 30, 2026 to use the swap into SODA in both directions, and until December 31, 2026 to start it at all. After that the ICON blockchain will be shut down. The obvious question ahead of a deadline like this one: how far has the swap actually progressed? The answer from this analysis is an uncomfortable one, and it matters more for your decision than any percentage figure would: there is no public progress indicator, and none can be derived from the two blockchains either. Something else is measurable, and that is what we measured.

On the ICON chain, 1,108,792,074.22 ICX were still sitting there on September 1, 2026 at 10:02 UTC. On the Sonic chain, the SODA contract reports a total supply of 1,499,555,266.83 SODA. We retrieved both figures ourselves. Neither of them moves the way it would have to move if the swap were reflected in it. What that means for you is set out further down in three concrete steps.

What a token migration means technically

A token migration is the relocation of a holding from one blockchain to another: the old token is surrendered or locked, and the new one is credited in the same amount. In ICON's case the swap runs at a 1:1 ratio, and the new token is an ERC-20 token, a token following the widely used Ethereum standard, which here sits on the Sonic chain. We already covered the mechanics, the deadlines and the tax side in detail once the dates were fixed: Swap ICX for SODA, two deadlines before the ICON blockchain shuts down. This article does not repeat any of that. It takes measurements instead.

ICX and SODA: what ends on September 30 and December 31, 2026

The ICON Foundation has set two cut-off dates. On September 30, 2026, the swap in both directions ends; from that day onwards only ICX is converted into SODA, and the way back is closed. On December 31, 2026, the migration ends completely and the ICON blockchain is switched off. Both dates appear in the foundation's announcement, which remains available: Final Date Set for SODA Migration.

The first date tends to be underestimated, because it switches nothing off. What it takes away from you is the option to reverse course. Until then you can unwind a swap you have thought better of. After that, every decision is final. For you, that makes September 30 the day up to which a mistake can still be corrected, rather than the day on which something is lost.

How much ICX is still on the ICON chain today? The September 1 measurement

We queried the total supply directly at a public network endpoint of the ICON chain. On September 1, 2026 at 10:02 UTC, at block 117,660,881, it stood at 1,108,792,074.22 ICX. That is the entire holding still in existence on this chain, regardless of who owns it and whether it sits on an exchange or in a private wallet.

How we measured

The method in one sentence: we used public network endpoints on both chains to retrieve the total supplies and the contract details, additionally read the total supplies at historical block heights in order to see how they developed, and recalculated the balances of the largest ICON addresses individually. This analysis was carried out by cryptoticker.io itself on September 1, 2026.

SODA on the Sonic chain: what the contract reveals about total supply

On the other side, SODA sits as a contract at address 0x7c7d53EEcda37a87ce0D5bf8E0b24512A48dC963 on the Sonic chain, network ID 146. The contract reports the name SODAX, the ticker SODA and 18 decimal places. Its total supply on September 1, 2026 at 10:01 UTC, at block 78,518,868, was 1,499,555,266.83 SODA. The contract page is open for readers to inspect, so the figure can be verified: SODA contract in the Sonic explorer.

That supply is considerably larger than what still exists on the ICON chain. Anyone tempted to calculate from it how much has already been swapped will get the wrong answer. The reason is in the next section.

Why total supply does not reveal the migration status: ICX is not burned when swapped

When a swap destroys the old token, its total supply falls with every conversion, and progress can simply be read off. That is precisely what does not happen here. We queried the ICX total supply at block heights 1, 3, 7, 14, 21, 30, 45, 60 and 90 days back. Across that entire window it is practically unchanged: on June 2, 2026 it stood at 1,108,792,174.22 ICX, and on September 1 at 1,108,792,074.22 ICX. The total decline over three months amounts to 100 ICX, and it occurred in a single step. A swap involving millions of tokens looks different.

On the SODA side the picture mirrors that. On May 17, 2026 the contract reported 1,499,898,497.73 SODA, and on September 1 it reported 1,499,555,266.83. The supply is falling slowly and steadily, by 343,230.90 SODA over 107 days, and by 39.59 SODA in the past 24 hours. So no new tokens are being issued. That settles the question: the swap is reflected in neither of the two total supplies. It evidently locks ICX somewhere else instead of destroying it, and it issues SODA out of an existing stock.

Issuance stopped on March 26, 2026: what the flat supply says about the ICON chain

The flat curve carries a second message. We traced the total supply back over 700 days. On September 28, 2024 it stood at 1,035,202,884.51 ICX and rose steadily thereafter, because the network was continuously paying out new tokens as rewards. On March 26, 2026 it reached its peak of 1,108,792,274.22 ICX and has never risen again since. We narrowed down the moment: at block 110,826,589, on March 26 at 04:33 UTC, it was still at 1,108,780,659.98 ICX, and at block 110,835,026 on the same day at 09:14 UTC it had already reached its final level.

For you as a holder that carries a very concrete meaning: an ICX left sitting on the old chain no longer grows. There is no reward left that pays for waiting, and no reason to postpone the swap on economic grounds. Waiting gains you nothing here and puts a deadline at risk.

How concentrated are ICX holdings? Top 1, top 10 and the long tail

If progress cannot be measured, at least the distribution of the remaining holdings can be. We pulled the hundred largest ICON addresses from the public network explorer and recalculated every single balance via a network query rather than trusting the display. The result on September 1, 2026:

• The largest address holds 289,239,564.38 ICX, or 26.09 percent of the total supply.
• The ten largest addresses hold 622,602,574.68 ICX between them, or 56.15 percent.
• The 25 largest hold 729,116,396.38 ICX, or 65.76 percent.
• The 50 largest hold 801,247,036.47 ICX, or 72.26 percent.
• The 100 largest hold 823,733,472.28 ICX, or 74.29 percent.

That leaves 285,058,601.94 ICX, or 25.71 percent of the holdings, outside those hundred addresses. That is the order of magnitude at stake when it comes to taking action: a quarter of all remaining ICX is spread across a large number of smaller addresses, and each one of them has to decide separately. Whether an exchange, a foundation or a private individual sits behind any given address cannot be established from the outside, and we make no claim about it.

One side finding on method, which we disclose because it matters for anyone re-checking the numbers: for 33 of the 100 addresses, the balance shown in the explorer deviated by more than one ICX from what the direct network query returned. We used the network query throughout. Anyone verifying a figure like this themselves should not rely on the display of an overview page.

Exchange balance or self-custody: who has to start the swap themselves

The distinction that matters most in practice runs between two forms of storage, and the size of the holding plays no part in it. If your ICX sits on a centralised exchange, the trading venue will as a rule carry out the swap for you without any action on your part; Kraken handled it that way in August 2026. If your ICX sits in your own wallet instead, in self-custody, nobody will take care of it. Self-custody means that you alone hold the private key and therefore you alone can act.

The second case is the dangerous one. It affects exactly those holders who deliberately moved their tokens off the exchange, and who therefore receive no email when a deadline approaches. If you want to know which trading venue handles processes like this for customers and which does not, our comparison of the best crypto exchanges is the place to start. A third case sits in between: ICX held on an exchange that has already delisted the token. Binance, for instance, removed ICX from trading along with two other tokens, which triggers deadlines of its own; the details are in our article on the Binance delisting of ICX, SCRT and STORJ.

Gas balance on Sonic: why receiving SODA is not enough on its own

One point at which the swap stalls after you have clicked the confirmation button has to do with the destination chain. SODA arrives on the Sonic chain, and every blockchain charges a small fee in its own network currency for sending a transaction. That currency here is Sonic. To receive, you need none of it. But as soon as you want to move, sell or send your SODA elsewhere, you need a small balance of that network currency on the same address.

In practice this means a swap reported as successful can still leave you in a position where you watch and can do nothing. That is not a fault of the portal; it is how the destination chain normally works. We measured the block time of the Sonic chain over 100,000 blocks and arrive at 1.688 seconds per block, so the chain is running normally and briskly. It is not the bottleneck.

For tax purposes the swap is not a non-event: what you should document

A forced swap remains a swap. For the treatment in Germany, what counts is the timing, the acquisition data and a traceable allocation, and both belong on record before the old chain is switched off and its data survives only as an archive. We already set out the tax side of this particular process in our article on the two deadlines and will not repeat it here. What matters is the timing: after December 31, 2026 the ICON chain is a read-only archive, and the evidence you need is better collected before that.

How to recognise a genuine migration portal

Deadlines attract fraud attempts, and an announced migration is a template for them. Three features help. A genuine portal never asks for your recovery words or your private key, only for a connection to your wallet. You find the portal's address through the project's official announcement, not through a search engine and not through a link in a message. And a genuine deadline is communicated openly by the operators over a period of weeks, instead of surfacing in a single urgent notice.

What we could not measure and why that counts for you

Part of being honest about your own research is stating its limits. As of September 1, 2026, four points remain open.

First, we were unable to identify beyond doubt the contract on the ICON chain in which the submitted ICX is locked. We examined the largest addresses and saw that the biggest of them grew from around 236 million to around 289 million ICX in thirty days. That is striking, but it is not proof, because trading venues also move large sums over such periods. Without confirmation of which address plays which role, we will not name it as the migration address. That is why this text contains no percentage figure for the swap status.

Second, the ranking of the hundred largest addresses comes from a public explorer. We recalculated the individual balances, but we could not independently reproduce the ordering itself. If it is out of date, the shares shift slightly.

Third, it is not visible from the outside how much ICX is held in custody for customers on centralised exchanges. Yet that is precisely the portion whose holders do not have to act themselves. The number of people who genuinely still have to do something is therefore smaller than the holdings outside the large addresses would suggest, and how much smaller nobody on the outside knows.

Fourth, we can say nothing about how many individual people stand behind the addresses. An address is not a person, and one person can have many addresses.

ICX migration: what is established and what remains interpretation

Established and measured by us are the figures in this text: the two total supplies together with how they developed, the halt in issuance on March 26, 2026, the distribution across the hundred largest addresses and the block time of the destination chain. Established and documented by the foundation's announcement are the two cut-off dates.

Interpretation, and labelled as such, is the conclusion drawn from it: that a migration with a hard deadline is running without any publicly visible progress figure is a disadvantage for holders, because it devalues the most common justification for waiting. Anyone who has been assuming the deadline would surely be extended if too much remained unswapped has no data on which to base that assumption. This is expressly not an accusation against those involved: the absence of a figure implies no intent, and it may simply be that the chosen mechanism produces no such figure. Our measurement says nothing about the reasons.

Also interpretation is the observation that the economic incentive to wait has been absent since the end of March. The halt in issuance is documented; the assessment that it removes an incentive is ours.

The pattern behind the individual case: deadlines without a progress indicator

This case is no exception. Forced swaps, delistings and shutdowns almost always follow the same pattern: there is a date, there are instructions, and there is no indicator of how many of those affected have already responded. Anyone who takes their cue from what everyone else is doing is taking their cue from something they cannot see.

The practical lesson is unspectacular and effective: treat the first of the two dates as your date, and not the last one. For the ICX swap that is September 30, 2026, because up to that point a wrong decision can still be reversed. December 31 is the boundary beyond which nothing works any more, and not a target.

Three checks that take a few minutes

Look in your wallet and your exchange accounts to see whether there is any ICX there at all. As a second step, check whether it is held in self-custody, because only then do you have to act yourself. And as a third step, record when and at what price you originally acquired the holding, while the old chain is still answering.

Checking your ICX swap: what to take away

1. First establish where your ICX is. On an exchange, the trading venue usually handles the swap itself; in self-custody, nobody does it but you. Which provider takes on processes like these for customers is set out in our comparison of the best crypto exchanges.
2. Secure your records before the chain becomes an archive. Acquisition date, acquisition cost and the allocation of individual holdings belong on file while you can still retrieve them. Tools for that are in our overview of crypto tax software and portfolio trackers.
3. Decide by September 30, not by December 31. Up to the first date a swap remains reversible, after it does not. If the occasion has you thinking about your custody arrangements anyway, our hardware wallet comparison helps with the question of who holds the key in future.

(As of September 1, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)