Web Computer (ICP) is seeing bullish assignment no topic the contemporary bearish ambiance. As of press time, ICP, its native token, has lost its aid on the needed $10 handle, and within the mean time trading at $9.93, following a weekly upward thrust of greater than 80%.
ICP surged by 30% over the weekend and peaked at $11.50 earlier. It has now broken into the tip 20 cryptocurrencies by market capitalization. Within the identical time frame, the token’s alternate volume increased by 73% to $730 million.
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ICP up over 80% in the last week. Source: Coingeko
Web Computer, The Weekly Prime Performer
With six straight green candles within the day-to-day time frame, Web Computer smartly-known itself because the largest gainer of the week, defying the contemporary market volatility.
Its stamp increased by spherical 120% from the low of $5.20 on December 12th to a brand original yearly excessive of $11.30. The fee of the coin has broken by contrivance of some valuable resistances throughout this upward thrust, giving investors a likelihood to lengthen the rebound.
In phrases of blockchain technology, Web Computer is among the largest and most distinctive networks. The network, which debuted in 2021, has the total efficiency developers require to catch decentralized apps (dApps).
Its abundance of efficiency items it apart from other layer 1 and layer 2 networks such as Ethereum, Polygon, and Cardano. Users can recount its infrastructure to catch and host their capabilities.
ICP market cap currently at $4.3 billion. Chart: TradingView.com
ICP’s stamp has increased on story of its give a enhance to for Bitcoin, the largest cryptocurrency globally. Thanks to this connection, its canister shiny contracts are in a position to send, gather, and have Bitcoin on the network. Stated in any other case, these canisters are functionally identical to other Bitcoin holders on the BTC network.
This contrivance that Bitcoin shiny contract capabilities such as decentralized swaps and trading could just additionally be handled by Web laptop programs. Additionally, it has ckBTC, which has a 1:1 Bitcoin backing.
ICP seven-day price action. Source: Coingecko
Bollinger bands on the Web Compter are transferring, indicating excessive ranges of stamp volatility. Within the overbought home, the Relative Energy Index (RSI) is above the realistic line, indicating bull dominance within the stamp of Web laptop programs.
Key Partnerships
Within the intervening time, the physique of workers’s announcement of a collaboration between Web Computer, Gaudi Knowledge, and Moon Labs is among essentially the most valuable developments in gentle of the contemporary spike within the firm’s valuation.
Extremely joyful to screech the Strategic Partnership with Gaudi Knowledge Affiliation (@gaudiknowledge) and The Moon Labs (@LeisureMeta_LM). @ICPhubkorea can be the first accomplice for the Web3 venture between Gaudi Knowledge Affiliation and The Moon Labs.
We are revealing the… pic.twitter.com/iTuzb4oGgb
— ICP.Hub Korea (@ICPhubkorea) December 13, 2023
By teaming up with the Web Computer Mission’s South Korean affiliate, the two organizations would “Recreate Gaudi’s structure, arts, and incomplete architectural blueprints within the Metaverse on ICP.”
There could be no longer any proof of weakening within the stamp behavior and a solid likelihood of a rally with the dear amplify in volume. Within the occasion that the ICP stamp sustains itself above the $9.5 barrier, purchasers could just pursue the next that you just would think goals, which are $11.50 to $14.50.
The 50-day and 100-day transferring averages are supporting ICP. In step with some observers, the coin is set to invent a bullish flag after which receive speed again. It has already fashioned this flag sample’s pole. Web Computer could very smartly be going to study the weekend excessive of $11.90 if this occurs.
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