Dfinity’s ICP token dropped 10% in the past 24 hours to hit a price of $65.76, according to crypto data aggregator CoinGecko. It’s a heavy downturn for the currency, which, around this time last month, managed to set an all-time high of $700 barely 24 hours after its launch.
Dfinity is much-hyped. It was listed on Coinbase Pro at launch and seemingly came out of the blue to claim a market cap of just shy of $26 billion three days after launch. By that point, it was the eighth most valuable cryptocurrency in the world behind XRP.
ICP’s price has been in freefall ever since. This could be down to intense competition: Dfinity is competing with long-established blockchains that offer smart contracts and decentralized applications, like Cardano and Ethereum.
What is Dfinity and ICP?
Dfinity is a blockchain computer project founded in 2016 by entrepreneur Dominic Williams. Its central component, the ‘Internet Computer’, is a decentralized computer that’s run by a network of
Źródło: https://decrypt.co/73347/dfinitys-icp-falls-another-10
