Internet Computer ICP/USD initially made a huge impact on the cryptocurrency market and started the trading of its token at a value of over $400.
On May 10, DFINITY open-sourced the Internet Computer, where the source code of 3 primary components went live, including replica, node manager, and NNS canisters.
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This was a huge event, and ICP was valued at $460 which gave it a huge start in terms of value.
However, since then, the value of the token has fallen.
On July 9, DSCVR announced the first hackathon to be hosted on the Internet Computer, where the first season submissions would be accepted from July 23 to July 25.
This could potentially result in a lot of innovative products, ideas, and a genuine increase in the interest for ICP.
On July 14, Revolut announced ICP as a new network token in its application, which has a 15.5 million customer base. This introduced ICP to a lot more users and as such increased its trading volume
On July 15, the DFINITY Foundation teamed up with 200 of the best cryptographers, distributed systems engineers, and programmers and added 3 new academy talks to the Technical Library for the Internet Computer.
Through this, the foundation is attempting to educate a lot more users about the blockchain and why it has value within this current cryptocurrency ecosystem.
Should you invest in Internet Computer (ICP)?
On July 16, ICP was worth $34. Its initial $460 value puts into perspective the expected value of the token and the potential it has for growth. To get a better perspective of its more recent value, we’ll analyze the month of June. ICP saw its highest value on June 3 of $126, while it saw its lowest value on June 22 of $34. This signals a 73% drop in value. Since then, it has hopped around the $30 to $40 mark.
The native cryptocurrency token of Internet Computer ICP has seen an increase in trading volume of 8% in the last 24 hours.
With the hackathon, open-source nature of the project, and Revolut implementation, and increased technical library, we can see a push from the DFINITY foundation.
This means that a lot more people will get well-acquainted with the Internet Computer, and this could result in an increased demand for the ICP token.
With this increased demand, we could potentially see the value of ICP get back to $40 by the end of July.
Where to buy right now
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