Out of nowhere, the Internet Computer (ICP) crypto token yesterday emerged in fourth place after Binance Coin (BNB) based on CoinMarketCap records.
Its emergence raises questions among the crypto community as there is no news linking it to its listing, even appearing all of a sudden.
Apparently, its already high value is driven by listings on several major exchanges over the past few weeks, such as OKEx, Huobi, Binance, Gate.io, Coinbase and many more.
However, earlier this morning the ICP sharply dropped to 8th position due to increased selling pressure and now the token is between XRP (#7) and Polkadot (#9).
What's up with ICP and who are the developers? According to sources, the ICP is the result of a project carried out for 5 years. It was developed by Swiss company, Dfinity with support by Silicon Valley capitalists such as Andreessen-Horowitz and Polychain Capital.
Since 2016, ICP is a project that focuses on the development of decentralized blockchain networks to further expand the functionality of the internet.
In contrast to the current internet where applications on servers are mostly operated by Google, Amazon and Facebook, ICP is unique because with an independent data center network, applications can run independently without third party control.
At the time of writing, ICP is trading at $ 366, up 4.59% in 24 hours. Meanwhile, its market value reached more than $ 44 billion.
