This has been a rough year for the bitcoin industry, with both centralized and decentralized businesses barely making it. However, signs like the price of Internet computers flashing green show that the bear market is almost over. You will be able to discover everything you need to know about icp internet computer stock and is icp crypto is a good investment with the assistance of our detailed guide.
Appraisals of the most important Metaverse projects say that ICP, with a market price of $1.08 billion, is one of the most valuable tokens for long-term investments. Users rely on its ability to change the future of the Metaverse. At the time this was written, the price of ICP was $3.9, which was 1.6% higher than the day before. It has a market value of $1.09 billion and trades $27,698,601 worth of shares every 24 hours.
Does it make sense to buy a computer for the Internet?
The Internet Computer Protocol is a blockchain network that aims to make computing and storing data faster, more efficient, and less centralized. The architecture of the project tries to fix problems with the traditional Internet, such as monopolization of services, lack of system security, and misuse of personal information. So, the network makes it possible for Web3 services to be run without a central server by providing a quick and effective blockchain.
ICP is the Internet Computer Network’s native utility currency. It is used to help manage the network, reward users for contributing to the ecosystem, and pay for nodes that do a lot of work. The Internet Computer blockchain combines a fundamental rethinking of how blockchains are made with the first “World Computer” blockchain, which can be used to build almost any online system or business. Social media sites that get a lot of traffic don’t need standard IT services like cloud computing. So, the ICP blockchain may make it possible to have complete decentralization from start to finish.
Remember that this cutting-edge blockchain project got a lot of attention in 2021, at the height of the cryptocurrency bull run, when its first trading day had great results and a market value of more than $10 billion. The Swiss company Dfinity Foundation runs the program, which has stayed true to its original goal of changing how smart contract technology works. In the same way, the protocol speeds up transactions for smart contracts while lowering the cost of storing them.
ICP is built on a set of cryptographic protocols that link different nodes to blockchains and let blockchains run smart contracts and canisters. ICP makes it easier for users to build applications by getting rid of the need to use the network’s container to connect to Oracle networks like Chainlink. If you treat the canisters with care, they can process and store important data.
ICP also gives users a number of features that make it more useful in real time. Green platform, unlimited scaling, bitcoin liquidity, and gas fee scaling are some of the things that make this platform unique. Even though it’s trying to get more known in the blockchain world and developers are still attached to platforms like Ethereum, Avalanche, and Solana, the total number of transactions on the ICP platform has gone up.
ICP is trading with a bullish bias right now, and the daily time frame chart shows a double-bottom pattern. This pattern points to a 15% increase (below). When an asset tries twice to retest a certain support level, this pattern indicates a bullish turn. In a double-bottom pattern, the two low points are separated by a small price peak, called the neckline.
The graph shows that ICP has reached its second lowest point (below). It was trading below the important supply zone from $4.12 to $4.51. The double-bottom pattern will be confirmed if the ICP price crosses the supply zone and meets resistance at $4.5. For this to happen, the price would have to go above the 50-day Simple Moving Average (SMA). This would start the price’s 15.2% rise to $4.513, as shown on the chart.
In the next year, there will be projects that can be helped by cryptocurrencies. The crypto community is excited about the different crypto projects that are coming up in 2023. The highlighted cryptocurrency projects have amazing use cases that attract whales and crypto investors to their presale events.