Based in Zurich, Dfinity Foundation It is a non-profit organization working to develop Internet computer technology (ICPThe blockchain and its powerfully growing ecosystem.
After five years of development, the project finally Launched Governance token for public circulation in May 2021.
A day after the trade massacre, ICP landed among the top 10 cryptocurrencies, but the hype was so short term The token lost more than 80% of its value in the following month.
artificial price
“There is a tidal wave level of misinformation, which reflects how big the impact the internet computer is having on the blockchain industry,” said Dominic Williams, Founder, President and Chief Scientist at DFINITY and the Internet Computer Project. Cryptolite.
According to him, “This misinformation was created by professionals who were/those short ICPs, by shills of competitors, by lawyers chasing ambulances, and by members of the press who just wanted to catch the clicks.”
“The real high was recorded for a few hours on the first day, and it was just over $450 (see Coinmarketcap.com). After this peak, the price has mostly fallen steadily for the next month, and then in the next three months so far, it has been relatively stable. Williams commented on the “artificially low price” of the ICP, which, he explained, only lasted a few seconds when markets opened over the past week.
“Why did this happen? We will never know exactly,” he said, adding that “what is clear is that the internet computer underwent Genesis on the last day of a massive crypto rally,” when the price of Bitcoin (BTC) nearly reached $60,000. .
Unfortunately, as Williams points out, the very next day, market sentiment shifted, bitcoin plummeted to about $30,000 over the next nine days, and the sudden change in sentiment had a huge impact on ICP, as it is a new token.
According to him, “An even more mysterious factor is that in the days leading up to Genesis, the price of ICP on the FTX futures exchange suddenly rose by several hundred dollars, and this helped determine the initial bullish prices in the post-Genesis markets.”
“Sure, some obscure players will have made fortunes afterward with the ICP short, which bothers me a lot,” he concluded, claiming that neither DFINITY nor he did any sort of rug-pulling.
He emphasized that “DFINITY did not sell any ICPs for the first five weeks after Genesis, and only thereafter to cover tax liabilities created by granting RTUs paid to employees (restricted token units).”
“Founders and CEOs were completely locked up in the first week. For my part, I’ve sold less than 5% of my holdings since Genesis — after working day and night on the project for years.”
fierce growth
The ICP agenda integrates directly with the Bitcoin blockchain, along with promising network stats, including 500 developers now relying on the network and more than 250,000 daily active users of dapps, open internet services, DeFi, industry-wide platforms, and websites that Created on the Internet computer, boosted investors’ renewed appetite.
1 / #InternetComputer The community is actively involved in the design and formation of the network’s roadmap.
Vote on proposal 20586: direct integration of the Internet computer with #BTC Network starts now 🗳️https://t.co/Nil6QMLV8q
– DFINITY (dfinity) September 15, 2021
The network recently surpassed 200 million blocks created, and according to the project’s dashboard, “block height has increased by an average of 33% over the week since the launch of Genesis on May 10.”
Today at 15:49:25 UTC #InternetComputer Over 200 million blocks have been created.
Cluster height has increased by an average of 33% per week since the launch of Genesis on May 10. 🤯 ♾ 🚀
Discover more live stats: https://t.co/e4FaOV7tnq pic.twitter.com/joXXjlkBT9
– DFINITY (dfinity) September 15, 2021
“When the internet computer underwent Genesis four months ago, its new form of advanced smart contracts (called ‘canisters’) was backed by get-go. Our reason for being is to support developers building new and exciting things on the blockchain, and thus, we’re seeing aggressive growth. Show Now all kinds of new dapps that would be impossible to create on another blockchain.”
1/ BIG NEWS: The first $1 million in grant funding has been awarded to 60 computer-based entrepreneurs and developers through the DFINITY Developer Grant Program 💸 https://t.co/GLacXtJLIW
– DFINITY (dfinity) August 17, 2021
To date, 65 recipients of developer grants from the Dfinity Foundation have received nearly a quarter of the $1 billion grant program.
The market capitalization of ICP recently exceeded 9.5 billion and the token is currently trading around $57.
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