{"id":190030,"date":"2021-05-12T05:00:41","date_gmt":"2021-05-12T04:00:41","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=190030"},"modified":"2022-03-20T16:10:53","modified_gmt":"2022-03-20T16:10:53","slug":"dfinitys-internet-computer-token-icp-launches-straight-into-the-top-10-cryptos","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/dfinitys-internet-computer-token-icp-launches-straight-into-the-top-10-cryptos\/","title":{"rendered":"Dfinity\u2019s \u2018Internet Computer\u2019 token (ICP) launches straight into the top 10 cryptos"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Dfinity Foundation, a blockchain startup that aims to revolutionize the World Wide Web by creating a decentralized \u201cInternet Computer,\u201d has launched its long-awaited governance token ICP\u2014and it has already landed among the top 10 cryptos, following a day of trading carnage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The token was first launched on American crypto exchange Coinbase Pro on Monday. Since then, other major trading platforms such as Binance, Huobi Global, and OKEx have been gradually adding support for it as well.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to crypto metrics platform <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/internet-computer\/\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, ICP\u2019s average price surged to around $730 almost immediately after its launch\u2014and dipped to as low as $146 in just 40 minutes. By now, after a turbulent day of trading, the token\u2019s price has stabilized around the $400 mark.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, ICP is trading at roughly $375, up 33.45% on the day. With a market capitalization of nearly $46 billion, the token is currently ranked 8th among the largest cryptocurrencies, pushing Litecoin out of the top 10.<\/span><\/p>\n<h2>Decentralizing the Internet<\/h2>\n<p><span style=\"font-weight: 400;\">As <em>CryptoSlate<\/em> reported, Dfinity\u2019s blockchain-based \u201cInternet Computer\u201d was <\/span><a href=\"https:\/\/cryptoslate.com\/coinbase-pro-to-list-icp-after-genesis-launch-of-crypto-project-dfinity\/\"><span style=\"font-weight: 400;\">finally launched last Friday<\/span><\/a><span style=\"font-weight: 400;\">. According to its creators, the network should allow developers to \u201ccreate websites, enterprise IT systems, pan-industry protocols, hyperscale open internet services, DeFi, and NFTs by deploying their code directly on the public Internet.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe Internet Computer represents the third major innovation in blockchain after Bitcoin and Ethereum. The first blockchain to support smart contract software that runs at web speed, serves user experiences directly to users, and scales its compute capacity without bound,\u201d Dfinity founder and chief scientist Dominic Williams explained last week.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In other words, the blockchain aims to replace the \u201ctraditional\u201d Internet, allowing developers to deploy their applications and website on the network <\/span><i><span style=\"font-weight: 400;\">directly\u2014<\/span><\/i><span style=\"font-weight: 400;\">without the need for cloud services providers, hosting companies, servers, or any additional assistance from the so-called \u201cbig tech.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In its turn, ICP\u2014being a utility token\u2014would allow its holders to vote on various decisions and proposals across the network and participate in its governance. For example, the token can be staked on Dfinity\u2019s blockchain to produce \u201cvoting rewards\u201d or converted into \u201ccycles\u201d to power smart contracts.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dfinity Foundation, a blockchain startup that aims to revolutionize the World Wide Web by creating a decentralized \u201cInternet Computer,\u201d has launched its long-awaited governance token ICP\u2014and it has already landed among the top 10 cryptos, following a day of trading carnage. The token was first launched on American crypto exchange Coinbase Pro on Monday. Since [&hellip;]<\/p>\n","protected":false},"author":472,"featured_media":190072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15323],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dfinity\u2019s \u2018Internet Computer\u2019 token (ICP) launches straight into the top 10 cryptos<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/dfinitys-internet-computer-token-icp-launches-straight-into-the-top-10-cryptos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dfinity\u2019s \u2018Internet Computer\u2019 token (ICP) launches straight into the top 10 cryptos\" \/>\n<meta property=\"og:description\" content=\"Dfinity Foundation, a blockchain startup that aims to revolutionize the World Wide Web by creating a decentralized \u201cInternet Computer,\u201d has launched its long-awaited governance token ICP\u2014and it has already landed among the top 10 cryptos, following a day of trading carnage. The token was first launched on American crypto exchange Coinbase Pro on Monday. Since [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/dfinitys-internet-computer-token-icp-launches-straight-into-the-top-10-cryptos\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-12T04:00:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-20T16:10:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/dfinity-space.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Liam Frost\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Liam Frost\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/dfinitys-internet-computer-token-icp-launches-straight-into-the-top-10-cryptos\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/dfinitys-internet-computer-token-icp-launches-straight-into-the-top-10-cryptos\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#person\",\"name\":\"Liam Frost\",\"url\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"caption\":\"Liam Frost\"},\"jobTitle\":\"Reporter\",\"description\":\"Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world. 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