Exploring the factors behind ICP’s 12.32% price surge in the past 24 hours, including its partnerships and real-world applications.
Points
- ICP’s price surged by 12.32% in 24 hours.
- Partnerships with the United Nations Development Program and others.
- Introduction of the ICP Hub Accelerator Program in Portugal.
- Significant increase in Total Locked Value （TVL） and trading volume.
In the past 24 hours, Internet Computer Protocol （ICP） has seen its price surge by 12.32%, making it a significant topic of discussion in the crypto community. Launched in May 2021, ICP aims to add real-world value beyond staking rewards or governance, focusing on practical applications and partnerships.
Support to United Nations Blockchain Program
ICP recently partnered with the United Nations Development Program （UNDP） to develop a blockchain-based platform for Universal Trusted Credentials （UTC） in Cambodia. This initiative aims to provide secure and manageable digital credentials, supported by 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 assists early-stage blockchain projects, transforming concepts into market-ready solutions. The goal is to develop a robust ecosystem for blockchain innovators.
Recently, ICP invested in Piggycell, Korea’s top power bank sharing service provider. Piggycell offers a decentralized platform enabling users to charge to earn, highlighting ICP’s commitment to real-world applications.
The Technical Aspect
At the time of writing, ICP is trading at $7.937, up 12.32% in the past 24 hours. The RSI stands at 48.47 points, indicating a bullish sign. Shortly after its launch, ICP reached an all-time high of $700.65 but hit its lowest at $2.88 on September 13, 2023. In the past 24 hours, ICP’s trading volume increased by 59.41%. The nearest resistance is at $8.257, and breaking this could easily push ICP to $10.
Data from DefiLlama shows a significant rise in ICP’s ROI compared to BTC and ETH in the past 24 hours. However, ICP still shows a loss compared to the broader DeFi ecosystem. Since the start of 2024, Total Locked Value （TVL） in ICP has seen a substantial increase, reaching $115 million from below $20 million by the end of 2023. Currently, it holds a TVL of $67.54 million.
Most major crypto exchanges have recorded a high surge in ICP trading volume, with CoinEx experiencing the highest rise of 184.04% in the past 24 hours.
Looking Ahead
The recent surge in ICP’s price and trading volume, along with its strategic partnerships and accelerator programs, highlight its potential for significant growth. Investors and traders should keep an eye on ICP’s developments and technical indicators to make informed decisions.
解説
- Strategic Partnerships: ICP’s collaboration with the United Nations Development Program and the introduction of the ICP Hub Accelerator Program in Portugal demonstrate its commitment to real-world applications. These partnerships can drive adoption and increase the token’s value.
- Technical Indicators: The recent price surge and positive technical indicators, such as the RSI and trading volume, suggest bullish momentum for ICP. Investors should watch for potential resistance levels and market trends.
- Real-World Applications: ICP’s investment in practical projects like Piggycell highlights its focus on adding tangible value beyond speculative gains. This approach can attract more investors looking for sustainable growth.
- Market Potential: The significant increase in Total Locked Value and trading volume indicates growing interest and confidence in ICP. Continued positive developments and strategic initiatives could further enhance its market position.