- Internet Computer is a unique player in the blockchain industry.
- The network provides a platform where developers can build decentralized dApps.
- The blocks have jumped to over $2.5 billion and smart contracts 343k.
Internet Computer’s ICP coin price has made a strong recovery in the past few weeks. After bottoming at $2.82 earlier this month, the coin has jumped to almost $4.5. It has jumped by more than 41% from and now sits at the highest level since August 15th of this year.
Blocks hit 2.5 billion
Internet Computer is a unique blockchain project that was started at the height of the crypto bull run in 2021. Its uniqueness lies in the fact that it provides an entire software package that enables developers to build quality software entirely on the blockchain.
Internet Computer is significantly different from other popular blockchains like Solana, Ethereum, and Polkadot. These networks provide a smart contract solution while Internet Computer provides both smart contracts and a software package.
As a result, Internet Computer has been used to build real Web3 solutions that are fully decentralized. Its website is fully decentralized and uses canister software. It has also been used to build dApps in industries like finance, social media, gaming, and the metaverse.
For example, Dmail is an email platform that is hosted entirely in the on-chain while Funded is a platform for crowdfunding. Other top dApps in its ecosystem are OpenChat, Hot or Not, and Sonic.
Read more: How to buy Internet Computer’s ICP..
ICP, Internet Computer’s token, has done well in the past few days. This rally is mostly hecause of the overall cryptocurrency rebound, which was triggered by the rising hopes that the SEC will approve a Bitcoin ETF.
ICP has also jumped because of important developments in its ecosystem. For example, on-chain data shows that the number of blocks jumped to over 2.5 billion on Friday.
They have now jumped to 2.511 billion tokens on Monday, signaling that the ecosystem is doing well. Also, the number of dApps or canisters in the ecosystem have jumped to over 343,600, up from January’s 233k.
Internet Computer price forecast
The daily chart shows that the ICP crypto price bottomed at $2.82 earlier this month. It has now bounced back and retested the 200-day exponential moving average (EMA). The coin is also approaching the important resistance level at $4.565, the highest point in July and the lowest point in March this year.
Therefore, the coin will likely continue rising as buyers target the resistance at $4.56. A break above that level will open the possibility of ICP token jumping to the psychological level at $5.0.
