ICP Builds Following, Price Rises

The fastest blockchain in the world is getting attention from some unlikely places after the native ICP token of the Internet Computer has risen over 50% since the New Year.

The first place ICP made attention in the past week was when crypto talking head Bitboy, Ben Armstrong, called ICP his top pick of the next bull run. Armstrong gave the token support when he highlighted the big potential driven by the product's powerful technology. He also noted the token has been one of his top performers as of late.

The Internet Computer ecosystem continues to defy the crypto bear market by marking continual growth. With exponentially faster and more ecological transactions than all major Layer-1 blockchains, Electric Capital recently reported in its 2022 Developer Report that ICP can be a catalyst to usher in a new virtuous bull cycle.

The ICP coin has maintained attention on Coinbase, one of the world’s biggest Centralized Exchanges (CEX). At the time of writing, the coin has a 97% buy rating on Coinbase, signaling a bullish sentiment from buyers.

And 2023 has been very nice to investors and the ICP price. The token is up 50% in the last 30 days, according to CoinGecko. After beginning the year at around $4, the coin now sits above $6.

The coin is also creeping higher and higher in Market Capitalization, now sitting at number 39 on CoinGecko with over $1.7 billion. But there is plenty of reason to believe the ecosystem can continue to grow. Besides the unmatchable tech, Kyle Langham noted in his January 20 Medium for Dfinity that:

“The Internet Computer ranked 12th amongst the top 200 crypto ecosystems in terms of full-time developers and 11th in terms of total monthly active developers.”

Langham also noted that many projects in the ICP ecosystem are planning to bring more eyes and attention through hackathons and educational events. The Internet Computer looks set to power into 2023.

What is the Internet Computer:

Internet Computer (ICP) is a set of protocols that allow independent data centers around the world to band together and offer a decentralized alternative to the current centralized internet cloud providers. The Internet Computer is a World Computer blockchain that can host and run mass-market social networks, online games, video streaming services, or enterprise systems entirely on the blockchain itself — eliminating the need for centralized IT and cloud services. The native ICP token is used for governance (holders can vote on the future of the network), to reward network participants for good behavior, and is used to pay fees for making transactions.

Where to find the Internet Computer:

Website | Twitter | Medium | Discord |