The Internet Computer token was released a few months ago, and its price quickly depreciated from $580 down to $70.
Last few months is rising moment for emerging Cryptos
There are reasonable measures of success to these. One of the latest and most notable cryptocurrencies released a few weeks ago is the ICP token (Internet Computer). Following its launch, the all-time high price of the ICP token stood at a whopping $580 This make it one of the most expensive cryptocurrencies.
It has been in development since 2016. Many investors bid on the projects before the coin was made available. The release caused a hype and enthusiasm in the market, which pushed its price to level up at $580 soon after its release. However, the Tokenomics of ICP is strange.
50% of the supply was locked with the creators, and a significant portion was closed with the pioneering investors. A fixed collection of coins is introduced monthly and dilutes the demand and supply. More ICP tokens are available as the demand and supply go down. Cryptocurrency experts believe this is the main reason for the sudden fall in the price of ICP.
It can be challenging to predict the price of cryptocurrencies for a specific range of time, especially for the case of ICP that has lost a considerable value in a short time. Its prices could go up or down significantly either way due to its volatility. Luckily, crypto experts have given their predictions for the cost of the ICP token. Wallet Investor has a discouraging prognosis for ICP, predicting its price could fall $3 by the end of the current year and by $1 by 2025. Digital Coin Price indicates the cost of the ICP could be $185 by the end of the year and would increase at the peak of $363 by the end of 2025.
However, the ICP is a reasonably new coin in the market and has only been out for a month. Price predictions can be accurate or inaccurate with limited data to research. As ICP continues to elbow its way to the top in cryptocurrency markets, crypto experts can test these predictions with time.
There is enough Fund for ICP
Investors have input a considerable amount into the project since its release. Funding cannot be a massive problem for the next few years for the ICP token. Millions of dollars are already committed to the project, and predictions for the ICP coin should be taken with a grain of salt as it does not yet have enough data to see the situation of its price.
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