Internet Computer, the project behind the ICP token is one of the new innovative technologies in the crypto market. Although the ICP token has only been trading for about two months, the cryptocurrency has managed to show potential.
ICP is currently trading at $42.37 and is up by 3.46% in the last 24 hours. This might be a good time to buy ICP.
ICP Price Analysis
ICP is currently on a bullish trend as seen on the daily trading chart.
However, the moving averages are on the verge of a bearish crossover, meaning that the bears are attempting a comeback. The long-term price as seen in the 200-day moving average (MA) is looking bearish at $42.15.
Nevertheless, if the price rebounds off the moving averages, bulls may push the price past the $43.00 resistance level and later to $43.42.
Right now, ICP’s price action is giving off a bullish look, investors can take advantage of this opportunity to buy ICP.
Looking at how low the price of ICP has gotten over the past few weeks, the token should make a rebound and look forward to its previous June 29 high at $59.52.
Dfinity has proposed a fork of the blockchain only a few months after Internet Computer went live.
The Zurich-based organization had previously gotten intense criticism from analysts and the ICP community of token holders because of how quickly the ICP token declined after its launch.
Although the token has shed more than half its value since it launched, Dfinity seems to be making positive plans to trigger a comeback for the token.
The founder of DFinity and Internet Computer Dominic Williams announced a new highly scalable blockchain called Badlands in a recent blog post. According to the post, Badlands would act as a sister network to Internet Computer.
Williams explained that the team would fork the Internet Computer and issue a new Badlands token called BDL.
ICP and Badlands/BDL are friends:
– Stake ICP in Badlands NNS
(if you own ICP, you can bootstrap)
– 1 blockchain stack 2 networks
– Networks fully interoperable, but…
– Different focus/natures, so…
– Broadens ecosystem
— Dominic Williams ∞ (@dominic_w) July 3, 2021
The token would be airdropped to holders of ICP. A portion would be sold in a crowdsale, with the proceeds used for research and development. This development when launched could be a significant win for ICP.
Where to Buy ICP?
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