The Internet Computer Protocol (ICP) after not echoing the news about it for a long time, now the ICP crypto is again a topic that is often talked about lately with the ICP cryptocurrency, recording an increase of 222% in the last month. In the last 24 hours, the price of ICP jumped by 15%, surpassing the $15 price level before falling back to $14.32.
ICP is seen gaining more attention as its price surged by 70% in just the last week. At the same time, it managed to beat Shiba Inu (SHIB) as the 17th ranked crypto based on market cap.
The value of ICP is not entirely tied to Bitcoin price fluctuations; on the other hand, the basic value is affected by various utilities. Among them is the ability to do staking through the Network Nervous System (NNS). NNS, which functions as a DAO for the Internet Computer blockchain, empowers users to participate in an open governance system by staking ICP utility tokens in neurons. Through this system, participants can contribute to proposals submitted to determine important decisions.
Volatility in ICP increased more in the last week especially in the last 24 hours. It is seen as likely to be driven by a 135.0% increase in trade volume. In addition, the number of ICP tokens in circulation has increased by 1.08% for the week, indicating that more tokens are available, which may put downward pressure on its price.
According to crypto trader Flying High, Internet Computer (ICP) views the recent breakout above $14 on the weekly scale as a positive development, with buying interest focused on trading levels of $10–11.
