Why Is Icp Crypto Falling (June 2021) A Helpful Guide! >> The guide is to update worldwide investors about the reasons causing the decline in the token prices.
A new cryptocurrency, Internet Computer Protocol or ICP, has been making news after its price has shaken due to many underlying causes. The cryptocurrency had made a high splash when it first launched on the Coinbase Pro and other major exchanges.
The Crypto Token registered high price volatility with its all-time high value of $600. It started declining with 50% to $280 in a few hours. The market capital of the token has been declining consistently, making it a topic of discussion in India and the United States.
Let us find out Why Is ICP Crypto Falling.
What is ICP Crypto?
Internet Computer Protocol is the decentralized blockchain token developed and owned by DFINITY Foundation, a not-for-profit research firm based in Switzerland. As per the developers, the token is ranked at the 3rd position of blockchain development.
Who Founded It?
DFINITY foundation was established back in 2016 by entrepreneur and crypto theoretician Dominic Williams.
The third step of blockchain development is a limitless blockchain that is supposed to represent by Internet Computer Protocol. The network is designed to offer a convenient platform to support smart contracts and allow them to handle at a rapid speed compared to the internet.
Unfortunately, despite its popularity, the market cap is falling, and investors want to know Why Is ICP Crypto Falling.
What is the Market Cap and Live Price Today?
The present ranking of the crypto token on exchanges is #16, with the live market capitalization of $8 869 189 727. However, there is a decline in the market cap of 12.37% in the last 24 hrs. The fully diluted market cap of the token is $32 286 077 847.60, with a decline of 3.17% in the last 24 hrs.
Regarding its live price today, the price of the ICP token recorded today is $68.76, with the highest trading volume of $474 520 560 in the last 24 hours. However, investors are concerned because the price of ICP tokens is down by 15.68% in the last 24 hrs.
Why Is ICP Crypto Falling – The Reasons
The ICP traders and investors want to know why the crypto is falling. There are a couple of valid reasons for the decline of ICP crypto prices.
- The first thing to bear in mind is that the Crypto marketplace is experiencing a downward trend since earlier this week. It is due to the news that came from the Department of Justice USA. The news about recovering the ransom paid against the Colonial Pipeline Hack. The ransom was paid in BitCoin, and hence when the government started recovering the ransom, the investors’ faith was shaken. It is the first reason Why Is ICP Crypto Falling.
- Secondly, the crypto analysts believe that consolidation affects the market cap and live price of the crypto token. It is due to the response of the crypto market that is registering major highs in the last month, and the ICP token is not immune to such consolidations.
What is ICP Crypto Total Supply?
As per the reports, the total token in circulating supply in the exchanges is 128 985 798 ICP, with no data available for the max supply of the token. The total token available for supply is 469 540 695 ICP.
Q1. What is the Official Link of the Token?
A1. The official link is https://dfinity.org/
Q2. What is the Live Price Today?
A2. The live price of the token is $69.43
The Bottom Line
So, Why Is ICP Crypto Falling is hopefully answered, and investors must make the purchasing decision accordingly. For more information about the foundation and token, click here.
The price keeps fluctuating in the crypto market, and it is a smart move to keep checking the live price before investing.
Do you have anything to share about the crypto token and its declining price? Please share your opinion in the comment section. Also, please know here the best apps for trading cryptocurrency in 2021.