{"id":514649,"date":"2023-01-04T02:10:41","date_gmt":"2023-01-04T07:10:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=514649"},"modified":"2023-03-08T07:26:22","modified_gmt":"2023-03-08T07:26:22","slug":"internet-computer-icp-sheds-5","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/internet-computer-icp-sheds-5\/","title":{"rendered":"Internet Computer (ICP) Sheds 5% In Last 24 Hours As Bulls Lose Aggressiveness"},"content":{"rendered":"<p><span style=\"font-weight: 400\">With more than $1 billion in market cap, Internet Computer is part of the top 50 cryptocurrencies according to <\/span><span style=\"font-weight: 400\">CoinGecko<\/span><span style=\"font-weight: 400\">. Although the crypto market is certainly <\/span><a href=\"https:\/\/twitter.com\/CryptoBusy\/status\/80279553?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">bullish<\/span><\/a><span style=\"font-weight: 400\"> on the token, the positive sentiment on the crypto has not reflected in the charts in the past days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/internet-computer\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, the token is down by 5% in the daily timescale. However, the bi-weekly timescale shows a 12% gain.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-pushes-towards-17000\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Turns 14 As King Crypto Pushes Towards $17,000 Level<\/a><\/div>\n<h2><strong>Bullishness Up, But Why Is Internet Computer Down?\u00a0<\/strong><\/h2>\n<p><a href=\"https:\/\/twitter.com\/dfinity\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">DFinity<\/span><\/a><span style=\"font-weight: 400\">, the company that launched Internet Computer, recently integrated Bitcoin to add smart contracts to the top cryptocurrency.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the <\/span><a href=\"https:\/\/insights.santiment.net\/read\/top-10-blockchains-devactivity-2022-7157?utm_source=twitter&amp;utm_medium=post&amp;utm_campaign=twitter_top_10_dev_activity_santrends_122922\/&amp;fpr=twitter\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Santiment insight<\/span><\/a><span style=\"font-weight: 400\"> made by <\/span><span style=\"font-weight: 400\">SanTrends<\/span><span style=\"font-weight: 400\">, ICP is top 5 just behind Ethereum in development activity. InfinitySwap, the ICP blockchain\u2019s automated market maker (AMM) and staking platform,\u00a0 has also contributed to the rise in development activity as it also <\/span><a href=\"https:\/\/www.blog.infinityswap.one\/introducing-infinity-swap-the-next-generation-of-defi\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">integrated<\/span><\/a><span style=\"font-weight: 400\"> Ethereum, ensuring low fees compared to the top altcoin.\u00a0<\/span><\/p>\n<pre style=\"text-align: center\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-514660 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/a-6.png?resize=441%2C221\" alt=\"\" width=\"441\" height=\"221\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/a-6.png?w=441 441w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/a-6.png?w=360 360w\" sizes=\"auto, (max-width: 441px) 100vw, 441px\">Image: Crypto News Flash<\/pre>\n<p><span style=\"font-weight: 400\">However, this strong bullishness in development was sideswiped by a <\/span><a href=\"https:\/\/defillama.com\/chain\/ICP\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">strong drop<\/span><\/a><span style=\"font-weight: 400\"> in TVL, <\/span><span style=\"font-weight: 400\">high-profile crashes<\/span><span style=\"font-weight: 400\"> in the crypto space, and <\/span><a href=\"https:\/\/www.businessinsider.in\/policy\/economy\/news\/americans-still-havent-felt-the-worst-of-the-war-on-inflation-meaning-2023-will-be-survival-of-the-fittest\/articleshow\/96596557.cms\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">economic headwinds<\/span><\/a><span style=\"font-weight: 400\"> produced the perfect storm for ICP to crash just a day before 2023 starts.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-514667 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/a-7.png?resize=860%2C241\" alt=\"\" width=\"860\" height=\"241\"><\/p>\n<pre style=\"text-align: center\">Chart: DefiLlama<\/pre>\n<h2><strong>Security For ICP Is Up, But Not For Investors<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">On-chain security of ICP has been boosted by its integration with BTC. With 2022 being very <\/span><a href=\"https:\/\/www.digitaljournal.com\/tech-science\/unwanted-growth-2022-was-a-record-year-for-crypto-hacks\/article\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">notorious<\/span><\/a><span style=\"font-weight: 400\"> with the amount of digital assets stolen, this security boost is highly appreciated by the community.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, on-chain security does not guarantee returns for Internet Computer investors and traders. <\/span><span style=\"font-weight: 400\">Historically<\/span><span style=\"font-weight: 400\">, ICP follows both Ethereum and Bitcoin in price movement. If ETH and BTC will suffer from internal or external factors in the crypto industry, it would reflect on the price of altcoins like Internet Computer.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-514655\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/a-5.png?resize=440%2C460\" alt=\"\" width=\"440\" height=\"460\"><\/p>\n<p><span style=\"font-weight: 400\">This year\u2019s start for ETH and BTC has been shaky at best. With the BTC community celebrating <\/span><span style=\"font-weight: 400\">Genesis Block day<\/span><span style=\"font-weight: 400\"> anxiously at $16,515 support, ICP has a long way to go in terms of bullish pricing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, with <\/span><a href=\"https:\/\/twitter.com\/videosimsburner\/status\/47300352?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">analysts<\/span><\/a><span style=\"font-weight: 400\"> showing metrics that might be a precedent of a bull run, ICP might have a short-term upward momentum above $4.096 price resistance with support at $3.840.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/solana-up-13-since-yesterday\/\" target=\"_blank\" rel=\"noopener \">Solana Up 13% Since Yesterday, A Sign Of Brighter Things to Come?<\/a><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/orr7aZZM\/\" width=\"2047\" height=\"979\"><\/p>\n<pre style=\"text-align: center\">ICP total market cap at $1.1 billion on the daily chart | Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">Bitcoin and Ethereum are trudging sideways as both the crypto market and traditional financial market await the <\/span><a href=\"https:\/\/www.investing.com\/economic-calendar\/fomc-meeting-minutes-108\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Federal Open Market Committee (FOMC) Meeting Minutes<\/span><\/a><span style=\"font-weight: 400\"> which will provide possible signals of more interest rate hikes.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Not to mention the current FUD surrounding the entire <\/span><span style=\"font-weight: 400\">Genesis-DCG debacle<\/span><span style=\"font-weight: 400\"> and the deteriorating situation of Grayscale\u2019s situation as both its <\/span><a href=\"https:\/\/a.msn.com\/00\/en-us\/AA15W2Rc\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Bitcoin Trust fund<\/span><\/a><span style=\"font-weight: 400\"> and its <\/span><span style=\"font-weight: 400\">Ethereum Trust fund<\/span><span style=\"font-weight: 400\"> depreciate rapidly.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, ICP investors and traders should hold off any major decision until the FOMC\u2019s meeting concludes as this would indicate either a better or worsening economic situation.<\/span><\/p>\n<p><em>-Featured image: Yahoo Finance<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With more than $1 billion in market cap, Internet Computer is part of the top 50 cryptocurrencies according to CoinGecko. Although the crypto market is certainly bullish on the token, the positive sentiment on the crypto has not reflected in the charts in the past days.\u00a0 According to CoinGecko, the token is down by 5% in the daily timescale. However, the bi-weekly timescale shows a 12% gain.\u00a0 Related Reading: Bitcoin Turns 14 As King Crypto Pushes Towards $17,000 Level Bullishness Up, But Why Is Internet Computer Down?\u00a0 DFinity, the company that launched Internet Computer, recently integrated Bitcoin to add smart contracts to the top cryptocurrency.\u00a0 According to the Santiment insight made by SanTrends, ICP is top 5 just behind Ethereum in development activity. InfinitySwap, the ICP blockchain\u2019s automated market maker (AMM) and staking platform,\u00a0 has also contributed to the rise in development activity as it also integrated Ethereum, ensuring low fees compared to the top altcoin.\u00a0 Image: Crypto News Flash However, this strong bullishness in development was sideswiped by a strong drop in TVL, high-profile crashes in the crypto space, and economic headwinds produced the perfect storm for ICP to crash just a day before 2023 starts.\u00a0 Chart: DefiLlama Security For ICP Is Up, But Not For Investors On-chain security of ICP has been boosted by its integration with BTC. With 2022 being very notorious with the amount of digital assets stolen, this security boost is highly appreciated by the community.\u00a0 However, on-chain security does not guarantee returns for Internet Computer investors and traders. Historically, ICP follows both Ethereum and Bitcoin in price movement. If ETH and BTC will suffer from internal or external factors in the crypto industry, it would reflect on the price of altcoins like Internet Computer.\u00a0 This year\u2019s start for ETH and BTC has been shaky at best. With the BTC community celebrating Genesis Block day anxiously at $16,515 support, ICP has a long way to go in terms of bullish pricing.\u00a0 However, with analysts showing metrics that might be a precedent of a bull run, ICP might have a short-term upward momentum above $4.096 price resistance with support at $3.840.\u00a0 Related Reading: Solana Up 13% Since Yesterday, A Sign Of Brighter Things to Come? ICP total market cap at $1.1 billion on the daily chart | Chart: TradingView.com Bitcoin and Ethereum are trudging sideways as both the crypto market and traditional financial market await the Federal Open Market Committee (FOMC) Meeting Minutes which will provide possible signals of more interest rate hikes.\u00a0 Not to mention the current FUD surrounding the entire Genesis-DCG debacle and the deteriorating situation of Grayscale\u2019s situation as both its Bitcoin Trust fund and its Ethereum Trust fund depreciate rapidly.\u00a0 Meanwhile, ICP investors and traders should hold off any major decision until the FOMC\u2019s meeting concludes as this would indicate either a better or worsening economic situation. -Featured image: Yahoo Finance<\/p>\n","protected":false},"author":557,"featured_media":514662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[138,14690,16036,2084,87595],"class_list":["post-514649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin-news","tag-crypto-news","tag-dfinity","tag-fomc","tag-infinityswap"],"acf":[],"yoast_head":"\n<title>Internet Computer (ICP) Sheds 5% In Last 24 Hours As Bulls Lose Aggressiveness<\/title>\n<meta name=\"description\" content=\"With more than $1 billion in market cap, Internet Computer is part of the top 50 cryptocurrencies according to CoinGecko. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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