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Strange situation of Definite Token (ICP) in the market after entering the exchanges


Definiti Internet PC tokens are finally tradable after 5 years, but the market trend is still unclear and analysts warn of sharp price fluctuations.

to the the report Coin Telegraph, after a long wait, the computer internet token on its first day of trading in the exchanges saw an unusual situation.

The Definiti ICP token was listed on May 11 in Quinbase Pro and several other exchanges, including Bainance, Huobi Global and OKEx.

Within four hours, the price of this newly released token rose from $ 700 to $ 250. The ICP token had a 70% recovery in 10 hours at the time of writing and is trading at $ 425. Coin Geko estimates that $ 1.8 billion was traded 14 hours after the start of PC Internet tokens.

Strange situation of Definite Token (ICP) in the market after entering the exchanges
ICP price chart since release

Computer Internet is a decentralized blockchain project provided by the Definiti Foundation. Definiti describes the mission of this protocol as developing the function of the public Internet; A network that connects billions of people through standard protocols to a publicly accessible supercomputer within its ICP protocol.

The project has the ambitious goal of replacing the trillion-dollar Internet and information technology industry. The Internet of Things aims to achieve this goal by allowing developers to place their code directly on the public Internet, which is distributed to hosting companies, servers, commercial cloud services, and technology patents.

This platform, like Ethereum, allows developers to run computing applications on a decentralized infrastructure. However, Definiti claims that it is more scalable than the main Ethereum layer 1 network.

Although Definiti has been focusing on creating the Internet of Things project since 2016, its internal work has been kept secret due to its closed source development policy. The launch of the platform Mercury genesis of this platform was held on May 7 (May 17) and this means that the public launch of this platform after the launch of the main network in December 2020.

ICP tokens can be invested in its governance system to earn “voting rewards” or become cycles that can be used to strengthen smart contract calculations. The computer’s Internet platform runs on the Network Nervous System algorithm, which is an open algorithmic governance system that monitors the network and the economic aspects of the token.

The system is divided into several subcategories and includes ICP tokens, “neurons” and “packets” that control the network independently. The Definiti site describes them in more detail.

The project started funding before the ICO boom in 2017 under the DFN program, but has since changed its token name to ICP.

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