The Internet Computer (ICP) crypto is catching investors’ attention on Friday. The ICP token price increased 3%, with the trading volume rising more than 238% in the last 24 hours.
In contrast, the broader crypto market retreated 1.93% to US$1.22 trillion, with volume tumbling 27.93% to US$69.66 billion in the same period.
Also Read: Why is Nexo (NEXO) crypto drawing attention despite its fall?
What is Internet Computer (ICP) crypto?
Internet Computer (ICP) crypto is a decentralized blockchain network helping in the large-scale development of smart contracts. The blockchain was launched by DFINITY Foundation in May 2021.
The project helps developers to build decentralized applications (DApps). It claims to offer network scalability and security through a system of checks.
Also Read: COP to EOG: Five oil & gas stocks to explore amid Russian import ban
Internet Computer aims to create a world-class public computing platform. It provides advanced technologies for smart contract development at low computational costs.
Its native token, ICP, can be traded on Binance, Huobi Global, Coinbase, etc.
Also Read: Solana (SOL) crypto drops after outage; know more here
The project has been gaining traction since the news of its Bitcoin integration. It will add its smart contracts to Bitcoin (BTC). The process involves a Chain Key cryptography application that provides each canister with a BTC public key, combining the ICP blockchain with the BTC network.
Thus, smart contracts on the ICP blockchain can hold, send, or receive their own BTC.
Also Read: Zhong Yang (TOP) stock zoomed 300% on Nasdaq debut
Data Source: CoinMarketCap.com
The ICP crypto was priced at US$8.37 at 8:27 am ET on June 3, up 3.36%, while its volume for the last 24 hours skyrocketed 238.43% to US$408.36 million. It has a market cap of US$1.96 billion, and its fully diluted market cap is over US$3.97 billion.
The token has a total supply of 482.27 million, and its current circulating supply stays below the 50% level of its total supply at around 234.23 million. It returned gains of 11.6% in the last seven days.
The ICP crypto saw the highest price of US$14.49 and the lowest price of US$6.07 in the last 30 days.
Also Read: Why is Celsius (CEL) crypto falling?
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.