The internet Computer coin has made a sudden appearance near the top of the crypto rankings. Its value reaching $90 billion on its first day of trading.
The internet computer coin debuted on the Coinbase crypto Exchange on May the 10th and immediately impacted. The opening price of $630 gave the coin a valuation above $80 billion. At the time, $10 billion higher than Doegcoin (DOGE) and $20 Billion more than Cardano (ADA).
The coin traded as high as $731 and a $90 Billion market cap on rival exchanges.
The ICP price is currently trading at $366, and although way off its first-day peak, the coin still has an impressive ranking of #8 on the CoinMarketCapsleague table.
What is Internet Computer
There are a couple fo key facts. Firstly, the Internet computer is a non-profit platform built by the DFINITY foundation.
The network, known as the Internet Computer Protocol (ICP), is the world’s first Blockchain to run at web speed and has unprecedented capacity. ICP is considered the crypto world’s third-biggest development after Bitcoin and Ethereum.
This open-source computing program aims to revolutionize the internet and host numerous applications that benefit smart contract developers. According to the Dfinity, ICP is:
“the last original Layer 1 blockchain project is launching a revolutionary public network that provides a limitless environment for smart contracts that run at web speed, serve web, scale and reduce compute costs by a million times or more.”
Internet Computer Price Outlook
With the coin only recently listed, I don’t have a strong opinion on where the price heads next. I would prefer to see how the market reacts over the next couple of days and weeks.
One thing I an recommend is, adding Internet Computer coin to your watchlist. This has the potential to be an exciting story and will provide plenty of trading opportunities in the future.
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