This is the time of interglacial period through which we are going. During this period ice melts form the polar caps and the rate of melting has extended from its average time. The ice over the arctic region is melting which comprises of 3% of the total ice present on the earth and other is in the Antarctic region and Greenland which is not melting quickly.
It is accumulated with 2133 meters of thick ice. The level of sea will increase nearly up to 61 meters in the world if all the ice over Antarctica region melts but the average temperature over that region is -37 degree C and in most of the regions the temperature never rises above the freezing point. So there is no danger of ice to melt. As Greenland is near to the equator so its temperature is more than Antarctica where the ice can melt and increase the sea level up to seven meters.
In the Antarctica region some parts are getting warmer because of the volcanic activity under the layers of ice but one good thing is that still there is not any volcanic eruption over the region otherwise it could be very dangerous if it happens. So the level of sea is not increasing quickly because ice is also not melting at such a fast pace. Light from the sun strikes the ice and then most part of it reflects into the air instead of going to the oceans and some part of it is captured on its way by the different gases of greenhouse. So on the whole ice gives cooling affect because it does not reflect the sunlight in the oceans.
Some parts in Greenland have increased in the ice level because of more snowfall and in other parts they are melting too fast. So a change will happen but not so quickly, the process can speed up in the later part of this century. This melting can release methane gas responsible for warming which is being accumulated in the tundra region and will cool the European regions and warms the tropical water.
NASA says that in south Greenland ice is melting at the double speed as it was in last ten years and Greenland ice could rise the level of sea by 20 feet which could prove harmful for the coastal regions.