Groundbreaking Developments in the ICP Crypto Landscape
Weekly Moving Average Cross and Supply Dynamics
- ICP witnesses its first-ever cross between the 50 and 200 weekly moving averages, marking a significant technical milestone in its market history.
- Nearly 50% of the ICP supply has been locked, with half of that expected to remain so for the next 8+ years. This dynamic impacts the supply and, in turn, the price of ICP.
Developer Activity and Blockchain Milestones
- ICP has shown a spike in core developer activity in the past few months, being the most active operation in crypto presently.
- The crypto has hit three billion blocks produced, a momentous achievement noted on the Internet Computer dashboard.
- The ecosystem has shown exponential growth, with a steady increase in users and applications.
DAO Activities and Bridging Efforts
- The NNS (Neuron Network Service), deemed the most active DAO in crypto history, operates within the ICP landscape.
- There are native-level integrations underway with CkBTC and CkETH, eliminating the need for bridging applications.
Tackling FUD and Future Prospects
- All speculations and FUD surrounding the ICP launch have been dispelled, and the price crash is attributed to Sam Bankman-Fried’s fraudulent activities through FTX.
- The exotic tech stack enables AI, gaming, marketplaces, and social media to be completely on-chain, suggesting a highly promising future for ICP.
As the ICP landscape continues to evolve and thrive, it emanates positive signals for the larger crypto market. This holistic growth—not just technical milestones but achievements in core developer activity, user and application growth, and successful DAO operation—sets ICP apart in the volatile and competitive world of cryptocurrencies. It isn’t every day you come across a crypto project that stacks such potential, signaling a potentially disruptive presence in the sector.
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