Why is the ICP coin falling?
You might have heard the expression, “Crash and burn to the ground” well, if we wanted to make an example for the process of crashing and burning, it would be the story and range or ICP.
We are confident that you are familiar with the cryptocurrency world, and you may have even used the world of crypto to gain profit or have fun.
However, the story we will tell you today about the demise of the ICP coin will change your mind, and you will realize that the crypto market isn’t the best place to fool around.
Just in case you have missed the news, we will tell you once more:
Cryptocurrencies are virtual and valuable assets you can purchase, trade, and invest in, making a living off this market.
In this statement, we will talk about the story and history of ICP and why ICP is coin falling.
And in the end, we will offer you professional analytics of our team regarding the ICP coin market on the BlockChain.
If you are ready to dive into the world of crypto and discover some new knowledge come with us to the end of this article.
We shall begin.
What is ICP?
In 2020, Mr. Williams founded a company called the concrete foundation.
This organization was a tech-based corporation that focused on a project called the ICP or Internet Computer.
They were trying to build a new vision, a new platform that could take the borders of imagination to infinity alongside definite; this foundation was nonprofit, meaning they weren’t making any profit.
Their resources came from another organization called Andreessen Horowitz, one of the most prominent visionaries in Silicon Valley.
Then they tried to create another way to evolve their tech, so they invented a new coin in the BlockChain. Because the project and the resource behind this idea were solid, this coin took off.
This token was created to help the company staff and other entrepreneurs ease their difficulties in foundation matters.
For some time, this idea was very well working; however, then things went south.
Up until three weeks ago, the price range and trade volume of the ICP was decent and very profitable; however, the prices fell by about %95, which was a horrific catastrophe for the ICP.
Now that you know what ICP is, we will get to the next section, which is the ICP price history.
The ICP price history
We talked about the identity and the story behind the ICP coin and how it suddenly dropped in price.
In this section, we will be talking about the price range and the predictions prices of ICP.
Let’s get started.
· 2021 – June – middle
In the middle month of the year, the price of ICP was at its highest: almost 247.56 dollars per unit, and the trade volume was decent but not that high.
· 2021 – June – last
As the month ended, the prices started to drop quickly; therefore, at the end of this position, the cost of the ICP was almost 32.14 dollars per unit.
This price difference indicated that the project behind the ICP was going down hills.
· 2021 – Aug – last
As the months went by, the prices started to rise again, and everyone thought this was the redemption of the ICP coin, but it was just smoking and mirrors. The prices went up to 81.85 dollars per unit.
The trade volume increased because of the prices; however, what came next was horrible.
· 2022 – Present
At the beginning of 2022, the prices were stable for the ICP, and the company was looking for a way to fix this fiasco, but little did they know that things were about to get much worse.
The price range was stable at around 59.75 dollars per unit, but as we speak, the price of ICP is almost 5.69 dollars per unit.
This means that the company and the user’s assets turned thin air.
Some people still hope and pray that the price of the ICP coin will increase again; however, we will be the judge of that.
In the next section of the article, we will talk about why this happened, and then we will offer you analytics of feature ICP.