After its launch earlier this year, the value of the Internet Computer skyrocketed, but it has since struggled to match those highs.
Internet Computer is a blockchain-based crypto token that was launched on May 10. To power applications and platforms, it uses smart contracts similar to Ethereum’s blockchain. The goal is for developers to use the technology to create websites and other internet services such as social media and messaging apps. They won’t rely on major corporations like Amazon, Google, or Facebook.
The Dfinity Foundation, which founded Internet Computer, wants crypto to become the internet’s decentralized version. The Zurich-based Dfinity Foundation, a non-profit scientific research organization, conducts research in Zurich, Switzerland. The Internet Computer Project of Dfinity hosts Origyn.
The non-fungible token (NFT) project Origyn Foundation announced on November 23 that Paris Hilton had joined a $20 million funding round.
Values of Internet Computer
According to CoinMarketCap, the cryptocurrency, also known as ICP, is currently valued at $42.01. On May 10, it reached an all-time high of $750.73.
However, the price dropped to $580.38 on May 11 and $387.60 on May 12. Make sure you understand that investing is a high-risk endeavor with no promise of success before deciding to do so. Before investing, make sure you understand the risks and can afford to lose money if things go wrong. Investing in something you don’t understand is a bad idea.
Cryptocurrencies are so volatile. The cost of an investment can rise or fall in a heartbeat. There is also little regulation for cryptocurrency companies, so you are likely to be unprotected if something goes wrong. The value of ICP is tough to estimate, although crypto fans and experts have made their own projections. Coin Price Forecast forecasts a value of $50.58 at the end of 2021 and $68.38 at the end of the following year. In 2024, the site forecasts that the price will reach $106.32. Those wishing to return more than $100 may have to wait. According to Digital Coin Price, the Internet Computer is expected to reach $106.06 by 2024. According to forecasts, the cryptocurrency is expected to reach $181.94 by the end of 2028.
ICP’s rapid ascent and descent within hours of launching demonstrate that it’s the focus of short-term speculation, as Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, previously told The Sun.
She also stated that buyers are hoping to profit from price surges rather than having a basic belief in the blockchain technology’s long-term use case. She added that it’s nearly impossible to predict when demand will wane and prices will fall in today’s speculative world.
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