Blockchain technology is constantly evolving. New projects are popping up every day. Only a handful of these projects are getting the attention of the blockchain community. One such project is the Internet Computer (ICP).
This new cryptocurrency was quickly gaining popularity and became the most valuable in terms of market capitalization. This article will explore The Internet Computer project, perform technical analysis on the ICP coin and analyze price predictions by experts.
What’s The Internet Computer (ICP),?
The Internet Computer is a distributed blockchain project that was developed by DFINITY Foundation (a non-profit research organization based in Zurich, Switzerland). Dominic Williams, a crypto-theoretician and entrepreneur, founded DFINITY in October 2016. The Internet Computer is being positioned by developers as the third stage in blockchain development. Bitcoin, the first cryptocurrency, was the first step. The second was Ethereum which introduced smart contracts. The Internet Computer is expected to represent the third step, “limitless blockchain”.
This network is unique because it provides a secure environment that supports smart contracts, and allows them to run at speeds comparable to the Internet. The network’s high scalability, cost reductions and flexibility make it ideal for mass media services, financial apps that are decentralised and other applications.
The Internet Computer is determined to compete with tech giants. Dominic Williams says that although the Internet was initially popularized for its openness and decentralization, it is now too monopolized. Many large players control hosting services, including Amazon Web Services and Google. They have the power to restrict access and change platform parameters and rules without notice to companies and users. Developers can use The Internet Computer to create websites, corporate IT systems, and Internet services. They can host their code directly on public Internet without any need for servers or commercial cloud service.
You’re building on big tech if you don’t have the right tools. It’s impossible to trust. Dominic Williams, founder and chief scientist of DFINITY Foundation.
In 2016, the project was first announced and quickly attracted attention from the cryptocurrency community. The venture fund Andreessen Horowitz supported the project in 2018 and Polychain Capital invested $102 million. DFINITY raised $166.9 Million. The Internet Computer network was launched on 18 December 2020. The Coinbase cryptocurrency exchange made the ICP token available to all users on 10 May 2021. The coin was soon also listed on Huobi, OKEx, and Binance.
The following are some of the most popular apps that run on The Internet Computer:
Enso Finance is a decentralised stock exchange
Distrikt is a professional, decentralised social media network.
OpenChat is an open-source version of the standard chat app
Capsule is a social media platform that’s decentralised and free of censorship
Fleek is a platform that allows you to create open websites and mobile apps.
ICP price history
ICP is still a young coin and has almost no history of price. It was listed for the first time on Coinbase’s exchange 10 May 2021 at $737.20. The price dropped almost immediately to $250. It rose to $491 the next day, then began to decline again. It continued to fall until the 19th of May when it reached an all-time low. The price rose sharply to $223 the next day. It corrected after that and fluctuated between $120 and $166. The support level at $120 was broken by sellers on 28 May. Price stability remained between $102-120. The momentum waned after buyers finally broke through the $120 resistance on June 3.
Internet Computer Price Analysis 2021
Internet Computer (ICP), currently holds the 19th position on CoinGecko. Will the latest developments, changes, and upgrades in the Internet Computer Blockchain help to increase the cryptocurrency price? Let’s look at the charts in this ICP prediction article.
Internet Computer Price Prediction 2022
Internet Computer will hit $200 by 2022 if this bullish trend continues. The first half of 2022 will see rapid growth, reaching $250. This will then slow down but there are no major drops. With the upcoming partnerships and developments, $200 is quite optimistic from a price perspective, but it is undoubtedly possible for the near future.
Internet Computer Price Prediction 2023
However, the price of an Internet Computer may rise to as high as $350. This is only possible if the market continues to trend bullish. Additionally, this is possible only if the cryptocurrency Internet Computer surpasses psychological resistance.
Internet Computer Price Prediction 2024
The latest updates, developments, Internet Computer price prediction, new project forecasts, and Internet Computer price prediction are all available. This might increase the price of Internet Computer (ICP), which can rise to around $500.
Internet Computer Price Prediction 2025
Internet Computer prices could rise to $720 in the next four-years. Internet Computer could reach this level easily if they can find additional short-term and long-term prices targets to buy or sell orders. According to the prediction, Internet Computer has a high chance of reaching a new ATH within the next five year.
Internet Computer’s future value predictions
ICP is not a new cryptocurrency, but it’s being supported by an interesting and promising project that is being developed by a large group of highly qualified specialists. The Internet Computer caught the attention of many investors and the crypto community. This project aims to address specific, but not universal, problems that are inherent in the Internet. It will be significant if it achieves even a small part of these goals.
Will the Internet Computer go up!
This is directly dependent on the success of the project team in achieving the goals that they have set. It is important to consider the competition offering similar functionality. It is also important to remember that only 30% of total tokens are currently in circulation. The price will rise when the remaining coins are put on the market.
What is the maximum ICP can go?
No one knows the future. It has only been on the exchanges for a short time, so it is impossible to predict its future price. Popular experts can also be wildly wrong in their predictions, as we have already mentioned.
Today’s Internet Computer price prediction
The coin is currently in a consolidation phase at the time this article was written. The crypto market’s overall movements will determine its future direction.
Internet Computer’s future looks brighter than ever thanks to its strong marketing strategy. Bullish ICP price prediction for 2021 is $116. It could even reach $150, if investors decide that ICP is a good investment along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Internet Computer is showing great promise. ICP can be an excellent investment, but only if it’s invested correctly and at the right price, as per our Internet Computer price prediction.
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