Of course, we should always aim for the coin to increase its price, but now the value of the coin seems to be very low, but with the bounty program, it is impossible for the coin to increase its price because nowadays the coin price is based on the activity by their technical team and firstly they need to follow their roadmap development.
It's just recently listed to many exchanges. Bitforex has a good volume of this project in which the coin is paired with USDT and BTC unlike in some market which it's only paired with BTC. I guess percentage and miners are earning in participating in the ecosystem and the anonymity it provides to its users that makes the project interesting. So we'll have to find it out later if things continue to look good.
I have noticed that there is sudden interest on this project because of their bounty programs. And since their price is improving in the exchanges, do you think it is not a decoy or any of that sort? Will the intended application for this coin really have a long lasting impact to traders/investors or miners? One more question here - are there any merchants accepting IQ Cash right now?
I can't tell about being a decoy. You must have noticed some coins lately that were doing campaigns were also spiking but after the promotions, they were dumped hard to -90%. The merchant information is not found on their website, no merchants so far. It wouldn't be surprising if the price will increase if there are merchants.