Over time, more investors are showing interest to invest in Cryptocurrency. ICP is on the list of fresh digital currencies. It also tops the list in providing limitless capacity that runs at fast web speed.
We have included this app with a complete guide on this digital currency and everything you should know before investing in it.
When you are thinking of investing in a particular Crypto, you should always carry out definite research so that you know about it. And so that you do not have to face huge losses, this step is important.
What Is ICP?
ICP is a fresh entry into the field of Cryptocurrency. Though it is new, it has shown a decent entry than other new coins. But does it mean that it is a good option to choose over the others?
The answer lies in the factor that the transaction speed is very fast, which is around 11,500 per second. If you compare this number with Ethereum, it is quite low. T
he transactions that Ethereum can handle every second are just around 15, which again takes more than 5 minutes for completion.
Also, the annual charge for storing data per GB on the platform of ICP is somewhat around $5, whereas this amount is very high for Ethereum.
If you search for a good option to invest in, ICP is not a bad option to opt for. But, the market of Cryptocurrency is very unstable so carrying out your research about it is important.
Performance Of ICP Since Origin
The first thing to look for before putting your money in any token is its performance. Let us have a close look at the performance of ICP since its existence.
Since its launch in May 2021, by the developers of Dfinity, it is still very new. But, its entry into the market was very huge. Since its release, it has achieved a price of more than $750. This fell to around $34 by June of the same year.
The price of the coin keeps on changing and the dip during its launch is a result of bullish trends. The prices keep on changing from $25 to $36.
At present, this is around $25 and will continue for some time from now. This frequent change in the price is due to the unstable nature of the market itself.
Ups And Downs Of The Coin
Digital currencies face several ups and downs in their prices and performance for their price. If we look at the recent trends then we can understand the changes ICP has to face from its launch to date.
1. The rate of ICP during the launch was around $274.
2. In May, we can see its price as $750, which is it’s all-time high.
3. In June of the same year, the price was as low as $34.
4. We can see that the price is further low, that is $28.
5. In February of the current year, its value was the lowest, that is, $14.50.
We notice here many changes in the prices of the coin. It is important to know that in this market, changes can take place at any moment, so you need to make decisions for investment with a proper idea.
Price Forecasts Of ICP
From having a very high rate to falling very low, you may wonder if it’s the correct choice for investment. There are various forecasts for this coin too, which you can have a look at before making any choice.
1. According to some experts, ICP is a very risky and long-run investment option.
2. Another fraction of the experts believe that the price of this coin will rise again in the upcoming year.
There are differences in opinion on this digital currency and which one turns true, will be clear in the coming times.
The transactions with ICP are very fast which is one of its advantages. Also, the users do not require any kind of particular tokens to enjoy the services of this technology.
The supply of the tokens does not have any limitations, unlike other digital currencies. But, apart from these good points, it is up to you, whether you can invest in ICP or not.
If you can afford the loss, invest the amount you can take the risk with, and don’t go for high amounts all at once.