Internet Computer Protocol （ICP） saw a significant price surge of 12% in 24 hours. This article delves into the factors driving this increase and the real-world applications that make ICP a valuable investment.
Points
- ICP price surged by 12.32% in 24 hours.
- ICP’s partnership with the United Nations Development Program.
- ICP Hub Accelerator Program in Portugal.
- Significant rise in trading volume and ROI.
- Technological innovations driving ICP’s growth.
In the past 24 hours, Internet Computer Protocol （ICP） experienced a 12.32% price surge, making it the talk of the day. Launched in May 2021, this token had lost 99.62% of its value by September 2023. Despite this, it still holds the 24th position on CoinMarketCap. Let’s explore why this token is so special.
ICP Helping Real World
Support to United Nations Blockchain Program
Unlike other cryptos that focus on staking rewards or governance, Internet Computer Protocol （ICP） aims to add real-world value. Just 10 days ago, ICP partnered with the United Nations Development Program （UNDP）. Under this association, ICP will help UNDP develop a blockchain-based platform for Universal Trusted Credentials （UTC） in Cambodia.
ICP will provide the infrastructure to secure and manage UTC for UNDP. This project also has support from other major bodies like the Monetary Authority of Singapore.
Portugal Accelerator Program
In 2024, ICP introduced the ICP Hub Accelerator Program in Portugal. This program aims to assist early-stage blockchain projects in transforming from simple concepts to market-ready solutions. The goal is to develop a robust ecosystem for blockchain innovators.
Recently, ICP invested in an IoT-based blockchain RWA project, Piggycell. Piggycell is Korea’s top power bank sharing service provider. It offers a decentralized platform that enables users to charge to earn.
The Technical Aspect
At the time of writing, Internet Computer Protocol is trading at $7.937, up 12.32% in the past 24 hours. The RSI is at 48.47 points, indicating a bullish sign. Shortly after its launch in May 2021, the crypto recorded its all-time high at $700.65. On September 13, 2023, it touched its lowest price point at $2.88. In the past 24 hours, ICP’s trading volume increased by 59.41%. The nearest resistance is currently at $8.257, and breaking this could easily push ICP to $10.
DefiLlama’s data shows a significant rise in its ROI compared to BTC and ETH in the past 24 hours. However, compared to the DeFi ecosystem, ICP still shows a loss.
Data derived from Coinglass shows that since the start of 2024, total Locked Value （TVL） in ICP has seen a significant rise. By the end of 2023, it was below $20M but reached $115M in 2024. Currently, it holds a TVL of $67.54M.
Almost every big crypto exchange has recorded a high surge in trading volume. CoinEx has recorded the highest 184.04% rise in ICP trading volume in the past 24 hours.
Looking Ahead
The significant rise in ICP’s price and trading volume highlights the growing interest and confidence in its potential. The real-world applications and partnerships, such as the collaboration with the United Nations and the Portugal Accelerator Program, demonstrate ICP’s commitment to adding value beyond the crypto sphere. As ICP continues to innovate and expand its ecosystem, it remains a promising investment with the potential for substantial returns.
解説
- The recent price surge of ICP is driven by its real-world applications and strategic partnerships.
- Collaborations with the United Nations and investment in innovative projects like Piggycell enhance ICP’s credibility and utility.
- Technical indicators suggest a bullish trend, with significant resistance levels indicating potential for further gains.
- The rise in trading volume across major exchanges reflects increased investor interest and confidence in ICP.
- ICP’s focus on adding real-world value sets it apart from other cryptocurrencies, making it a promising investment.