Internet Computer (ICP) Crashes 90% from Its ATH of $700 – NameCoinNews
Internet Computer stepped out as a prospective internet decentralization project with huge potential in the internet market. The Internet, in its current form, is a centralized entity with the network provider and government being the primary stakeholders.
In such a form, the Internet can be decentralized where the power to control the internet will slip out of a few global companies. The major problem witnessed with such a project is the lack of application of a centralized internet. One cannot decentralize an entity to its absolute strength without it being easily accessible.
Various other remote data sensing regulations and satellite norms also become a source of hindrance. Even if the world could prepare to turn towards a decentralized Internet, it can take years. The development roadmap of ICP spans over a decade that is being controlled by its parent organization, Dfinity Foundation.
Presently, Internet Computer (ICP) is valued at $2 billion, with less than 50% of its total tokens in circulation. By the time ICP went public with its ICO, a major chunk of investments were already picked from venture capitalists and other investors at extremely low values.
It resulted in a panic profit booking the moment ICP was launched in public, creating a cascading effect that pushed the prices to $32 by the end of June 2021. The coin again witnessed subsequent buying trends, but these trends failed to reach even 200% of the last dip value. Instead of recovering, the price of Internet Computer again slipped from the highs of $88 in September 2021 to under $8 in June 2022. Traders should explore ICP price prediction and do their own research before investing their hard-earned money in the token.
ICP price is still trading at a huge margin to the initial investment levels at which Dfinity Foundation sold ICP tokens. This indicates that buyers are still in the profitable zone, and the fact that more than 50% of its token still lies with the developers, there cannot be a true centralization of its prices. 
Despite the peak values it traded and projected, by the time ICP would manage to implement its 10-year roadmap, there would be a rise in such organizations, which would make it highly competitive. There is just a small probability that ICP would be able to implement revolutionary decentralization processes to beat the competitors and turn this organization into a profitable entity. With a $2 billion market value at a liquid position, the valuation still seems highly overvalued.
Considering an organization that hasn’t yet realized profitability, the Internet Computer would be a lucrative project only after it dips under $5.As per the current price movement, the investors should consider a very long-term perspective for this token to grow and hit the jackpot.
Since such an investment would be highly risky, one should not allot more than 5% to this crypto token. A positive buying trend should emerge after it manages to breach $20 on the immediate scale, which is 150% above the last traded value of the ICP token.
Ronald Cribbs is a reporter who has studied in Journalism and previously worked as a freelance reporter in well-known publications and financial news websites. He is regularly going for the interview with leading industry players of crypto space. He has been following cryptocurrencies since 2012.
Your email address will not be published. Required fields are marked *
NameCoinNews, being a News Publication Media that provides fresh and authentic updates of the crypto world, contributes to quite an extent by enlightening layman regarding the same. NameCoinNews operates efficiently in order to bring out high-quality, unbiased and well-analyzed content to readers. With this, it offers the latest news, price analysis and interviews to the crypto believers.
Note that the content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site.
Email: [email protected]
© 2022 NameCoinNews. All Rights Reserved.
© 2022 NameCoinNews. All Rights Reserved.