Internet Computer wants its blockchain to be used to build almost any online system or service through its revolutionary “World Computer” blockchain. The native token, ICP, is having a fantastic run in the market, experiencing over 80x increase, causing the price to reach the $20 region. In this article, we will explore ICP’s recent market growth, price predictions, and its latest Galactic Bridge partnership.
Internet Computer Excellent Market Performance
Over the past days and months, Internet Computer (ICP) market performance has been nothing short of excellent, with the price reaching $20 for the first time in many months. According to charts from Coinmarketcap, there was an over 80% increase in the weekly chart before a market correction took the price back to the $18 range. Weekly, the highest price was approximately $20.9, the lowest price was $11.70, while the average price stood around $11.93.
ICP still maintained massive increases in the monthly chart, increasing by over 38%. Other metrics like the market cap and the trading volume are growing, at over $8 billion and $600 million, respectively.
Can Internet Computer Replicate Another 80x Increase?
Currently, the market is experiencing a correction, with Bitcoin dropping below $70k again. Apparently, this also made ICP’s price fall below $20, staying within the $18 range. According to some of the latest price predictions, there’s a chance of ICP replicating another 80x surge before 2024 ends. Coinpedia’s price prediction shows they are optimistic of ICP going above $23 in 2024.
Furthermore, they expect the highest price to be above $26 while the average price will stay at $22. Nevertheless, ICP can still fall way below $20 and land at less than $15 if bears overpowers the bulls. Subsequently, there are expectations that ICP’s price could grow above $36.63 before 2025 ends. Moreover, ICP’s team is already working on multiple integrations, such as the new AI smart contract, creating hype around its native token. Thus, with new milestones and achievements being unlocked, Internet Computer’s price stands the chance of touching new levels, even though it is still far away from its $750 all-time high.
Internet Computer Partners with Galactic Bridge
Internet Computer recently collaborated with a promising crypto project, Galactic Bridge, to improve interactions with the Solana ecosystem. Apparently, Galactic Bridge wants to develop a seamless link between the Solana blockchain and the Internet Computer. This will result in the free flow of Solana’s native SOL tokens onto the ICP network and vice versa.
One of the primary goals of this partnership is high liquidity, flexibility, and utility for developers and traders. To achieve this, they will use a technology called Chain-Key, which will lead to the seamless transfer of Chain-Key Solana (ckSOL) tokens.
Conclusion
Recently, Internet Computer (ICP) had more than an 80% increase within a week, causing the price to grow beyond $20. While there’s a minor price retracement, the next question is whether ICP can achieve another 80x increase. According to price predictions from Coinpedia, there are chances of another 80% increase, with expectations of reaching over $26 before 2024 ends. Moreover, Internet Computer is partnering with Galactic Bridge to drive the adoption of their project. Apparently, this new collaboration is creating hype as it will enable the transaction of SOL tokens between the two ecosystems.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
