New crypto by the name of ‘Internet Computer’ made its debut on Monday. And it has already become one of the most valuable market assets within just 2 days.
The current market value counts an astounding $45BN for crypto developed by DFINITY Foundation.
Its opening on May 10th almost immediately initiated an impressive impact. It left almost all conscious analysts, traders, investors & enthusiasts stunned. Even CoinMarketCap.com ratings confirmed its current eight-position among the major crypto.
By now, ICP keeps trading at $366 to hold the current market value. However, the present mark remains considerably lower than its first-day peak.
Not to mention, it started dropping from the absolute $731 peak to gain a $90BN market cap.
The opening price was $630 to reach an unbelievable $80Bn market value on Monday alone. It held about 20 more billion USD than DOGE and 10 more billion USD than ADA.
It happened when everybody focuses on DOGE’s downfall following Elon Musk’s SNL hosting.
‘Internet Computer’ along with its related digital ledger aims at helping almost anyone. The applicability concerns software developers, content creators, promising publishers, etc.
Dominic Williams, the founder of Internet Computer, explained the platform on its market launch. He credited the idea to avoid corporate-walled gardens regarding minimal cost. The blockchain works differently from other standard systems in the market – he added.
It’s more like an alternative to the currently booming Ethereum to some extent. And the race concerns already existing Polkadot or Binance Coin to steal ETH’s thunder.
The non-profit platform coincides with a supporting network called Internet Computer Protocol (ICP). It’s the very first blockchain to operate at web speed with absolute capacity. Also, it eliminates the requirement of using tech giants (Amazon, Facebook, or Cloud services).
DFINITY spent almost 5 years developing the project for market implementation. The digital currency system is considered to be the third-largest development to follow BTC and ETH.
Again, no one seems sure to predict anything on the two-day-old crypto. It’s yet to observe the price outlook for any specific change. But the event surely sets another good example of crypto volatility.