After five years of development, the project finally launched its governance token for public trading in May 2021.
Following a day of trading carnage, ICP landed among the top 10 cryptos, but the hype was short-lived as the token lost over 80% of its value in the following month.
Artificial drop-in price
“There’s a tidal wave level of misinformation out there, which reflects how big an impact the Internet Computer is making on the blockchain industry,” Dominic Williams, Founder, President and Chief Scientist of the DFINITY Foundation and Internet Computer project told CryptoSlate.
According to him “this misinformation is created by professionals who were/are shorting ICP, by shills from competitors, by ambulance-chasing lawyers, and by members of the press who just want clickbait.”
“The highest real price was recorded for a few hours on the first day, and was just over $450 (see Coinmarketcap.com). After this peak, the price mostly fell pretty consistently for the following month, and then in the three following months until now, has remained relatively stable. Within the last week it touched $88,” Williams commented on ICP’s “artificial drop-in price,” which, as he clarified, lasted only a few seconds when the markets opened.
“Why did this happen? We will never know exactly,” he said, adding that “what is obvious is that the Internet Computer underwent Genesis on the last day of a huge