Discover the real value behind the rise

In the last 24 hours, the price of ICP has increased by 12.32%, making it the talk of the day. Launched in May 2021, this token had lost 99.62% of its value by September 2023. Despite this, it still ranks 24th on CoinMarketCap. Let’s find out why this token is so special.

ICP helps the real world

Supporting the United Nations Blockchain Program

Unlike other cryptocurrencies that focus on staking rewards or governance, the Internet Computer Protocol (ICP) aims to create real-world value. Just 10 days ago, ICP entered into a partnership with the United Nations Development Programme (UNDP). As part of this partnership, ICP will help UNDP develop a blockchain-based platform for Universal Trusted Credentials (UTC) in Cambodia.

ICP will provide the infrastructure to secure and manage UTC for UNDP. This project is also supported by other key agencies such as the Monetary Authority of Singapore.

Portugal Accelerator Program

In 2024, ICP launched the ICP Hub Accelerator Program in Portugal. This program aims to support early-stage blockchain projects in transforming simple concepts into market-ready solutions. The goal is to develop a robust ecosystem for blockchain innovators.

In addition, ICP launched Verified Credentials (VCs) last month during the Digital Identity unConference in Zurich. This wallet-less solution enables the efficient and secure exchange of personal data while maintaining privacy and control.

Recently, ICP invested in an IoT-based blockchain RWA project called Piggycell. Piggycell is Korea’s leading power bank sharing service provider. The company provides a decentralized platform that allows users to top up and earn money from it.

The technical aspect

At the time of writing, Internet Computer Protocol is trading at $7,937, up 12.32% in the last 24 hours. The RSI is at 48.47 points, indicating a bullish sign. Shortly after its launch in May 2021, the cryptocurrency recorded its all-time high at $700.65. On September 13, 2023, it reached its lowest price at $2.88. In the last 24 hours, ICP’s trading volume increased by 59.41%. The next resistance currently stands at $8,257, and a break of this resistance could easily push ICP to $10.

DefiLlama’s data shows a significant increase in ROI compared to BTC and ETH over the last 24 hours. However, ICP is still showing a loss compared to the DeFi ecosystem.

Data from Coinglass shows that the total locked value (TVL) in ICP has increased significantly since the beginning of 2024. At the end of 2023, it was below $20 million, but reached $115 million in 2024. Currently, the TVL stands at $67.54 million.

Almost every major crypto exchange saw a sharp increase in trading volume, with CoinEx recording the highest increase in ICP trading volume of 184.04% in the last 24 hours.

looking ahead

ICP is a project dedicated to creating real value. It aims to improve blockchain adoption and secure data. The sudden price increase suggests that retail investors are slowly realizing that cryptocurrencies with actual real-world applications can offer better returns.