ICP Price Soared With the Network Stepping Into AI Genre
With a 70% price surge, the ICP token has made its place in the top gainers list earlier. The token has followed an uptrend for the last few days and has surged from $4 to $20 within a month. It is no shocker as the crypto market is following a bullish trend with a few price dumps here and there. So what’s happening? Why is the ICP price rising? Let’s discuss that in this blog.
Analysis of ICP Price Movement
ICP is the native token of Internet Computer, a World Computer blockchain, building systems and services on the blockchain. It is one of the popular cryptocurrencies, ranked 18th on the CoinmarketCap. Its market capitalization is at $8,737,740,195 after a 12% surge, with a trading volume of $627,219,401 after a 30% hike.
The current ICP price is $19.09, with a 13% surge from yesterday. The ICP token has shown good price momentum throughout the week with its 71% surge. It led to the jump in prices from $10 to the current value of $19.09.
It is nothing compared to its best peak of three years ago, where it set an all-time high record of $750.73. The ICP price has continuously declined for years, and even now, the current value is 98% away from ATH.
Also Read: What Will Be My Portfolio If Internet Computer Price Hits $50?
Some of the investor’s predictions have analyzed the ICP price to go above the $60 mark by the end of April. The bullish nature of the market is favoring the ICP price momentum, and that’s why it was bullish for more than 17 days in the last 30 days.
Top Reasons Why ICP Price Jumped
In the past few days, the organization has worked on various things, which has led to the ICP price surge. Because of its unique functioning among other blockchains, ICP protocol has always been in demand but couldn’t surge over the losses.
The Internet Computer platform has disclosed its plans for AI development, where they are debuting into working with blockchain-powered AI Smart Contracts. The company has explained this as a demonstration of Artificial Intelligence Smart Contracts running on the blockchain.
These AI Smart Contracts are running on DFINITY’s Internet Computer testnet for now, but later, the users will be able to run the code on other public networks as well.
Dominic Williams, the founder of ICP, also presented his vision for this program. In an X post, he introduced the users to the ongoing plans for this AI integration. He said’
You will be able to have a chat with a smart contract. A smart contract will be able to coordinate your organization (see my earlier tweet about a “Delphi”). ICP smart contracts will be able to audit Ethereum smart contracts, kitemarking those without backdoors and reentrancy bugs. And smart contracts will be able to do KYC autonmously, matching faces to driving licenses, and more.
Conclusion
With the current ICP price surge, the expectations are high for the upcoming days for the token. The crypto market is recovering from the bearish hits and maintaining an extreme greed zone. If the trend continues, ICP might jump even higher from the $20 mark.
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