Jüngsten geopolitischen Entwicklungen werfen Fragen zur Ethik und zur Selbstdarstellung im Hinblick auf Krypto aufgeworfen. Was bedeutet das für die Zukunft der Branche?
Internet Computer price prediction: Is ICP a good investment?
The Internet Computer (ICP/USD) price moved sideways as the consolidation in the cryptocurrency industry continued. The token is trading at $8, which is about 36% above the lowest level last week. It remains about 98% below its all-time high, bringing its total market cap to about $1.8 billion.
Will ICP bounce back?
Internet Computer is a blockchain project that was launched in 2021 by Dfinity, a Swiss-based organization. The platform’s goal is to form a foundation of web 3.0 by helping developers build quality applications.
Its platform has better features than other blockchains like Ethereum and Solana. For example, its data storage costs are about $0.46 GB per month, which is about 100,000x lower than that of Solana. At the same time, its decentralized applications run 100% on-chain and are owned by DAOs.
According to the developers, its ecosystem has become popular among creators. Some of the most popular applications built using Internet Computer are Fleek, OpenChat, Internet Identity, and Motoko Playground among others. They believe that more developers will embrace the platform in the future.
While activity in the Internet Computer blockchain is rising, the ICP price has not performed equally well. It has lost over 98% of its value and is now the 40th biggest project in the world.
There are several reasons why the ICP price has lagged the market. First, investors have not embraced the coin after its crash that happened shortly after its launch. Second, there are concerns about the competitive nature of the industry. Some of the most notable players it is competing with include Avalanche, Solana, and even Ethereum.
Further, like other cryptocurrencies, investors are afraid of the hawkish stance of the Federal Reserve. The bank has committed to continue hiking interest rates in its bid to fight inflation. Further, the recent crash of Terra LUNA has not helped ICP and other coins.
Internet Computer price prediction
On the four-hour chart, we see that the ICP price has been in a strong downward trend in the past few weeks. It fell to a low of $5.87 during the Terra LUNA bloodbath that happened last week. It has remained below the descending trendline that is shown in purple. The coin has also declined below the 25-day and 50-day moving averages.
Therefore, the path of the least resistance for Internet Computer price is lower, with the next key support level being at $5.50.
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Terra-Chef Do Kwon soll zu parlamentarischer Anhörung in Südkorea geladen werden
Auf Grund massiver Verluste für Anleger will das südkoreanische Parlament den Terra-Chef Do Kwon zu einer Anhörung vorladen.
Deutsche Finanzaufsicht BaFin: Exekutivdirektoren fordert „innovative“ und EU-weite DeFi-Regulierung
Birgit Rudolphe schreibt, dass es in der Gesamten Europäischen Union eine einheitliche Regulierung geben sollte, um einen „fragmentierten Markt zu verhindern“. Dabei hebt sie die deutsche „Krypto-Erlaubnis“ als Beispiel für eine attraktive Regulierung hervor.
Why is KLAY up by more than 5% today?
The cryptocurrency market has underperformed over the last 24 hours after having a positive start to the week.
The cryptocurrency market’s recovery journey has encountered a slight challenge as the market lost nearly 2% of its value in the last 24 hours.
The total cryptocurrency market cap has dropped below the $1.3 trillion mark again following this latest bearish performance.
Bitcoin is struggling to surpass the $31k resistance level and has lost 1.7% of its value in the last 24 hours. Ether, the world’s second-largest cryptocurrency by market cap, is down by more than 2% today but maintains its value above the $2,000 psychological level.
However, KLAY, the native token of the Klaytn ecosystem is up by more than 5% today. KLAY is the best performer amongst the top 50 cryptocurrencies by market cap at the moment. However, it has lost more than 7% of its value in the last seven days.
There is no apparent catalyst behind KLAY’s ongoing positive performance. KLAY has outperformed the broader cryptocurrency market and the other leading cryptocurrencies including Bitcoin, Ether, XRP, Solana and Cardano.
Key levels to watch
The KLAY/USDT 4-hour chart is currently bullish thanks to KLAY’s ongoing positive performance.
The MACD line has just entered the neutral zone and could move into the positive territory if the rally continues.
The 14-day relative strength index of 61 shows that KLAY could soon enter the overbought region if it can maintain its current momentum.
At press time, KLAY is trading at $0.442 per coin. If the rally continues, KLAY could move past the first major resistance level at $0.511 before the end of the day. However, it would need the support of the broader crypto market to surpass its second major resistance level at $0.724 in the short term.
The post Why is KLAY up by more than 5% today? appeared first on Coin Journal.