$ICP

Those who ask if the ICP currency can rise to 2800 like it once did

The answer is here

Why did the ICP currency collapse from $2,831 to $5.37?

The ICP currency was launched in May 2021 on major platforms like Binance and Coinbase, and it surprised everyone by reaching a price of $2,831 on its first day, but it quickly collapsed to around $5.

What is the reason?

1. The initial price was illusory

Due to low liquidity in the first few minutes of trading, the price rose unnaturally. There was no real supply and demand to determine the actual value.

2. Token monopoly

The development team (DFINITY) retained most of the coins and only released a very small percentage. After listing, selling began by early investors, causing massive selling pressure.

3. Media hype

The project was marketed as a "revolution in the internet," but practical usage and applications did not meet expectations.

4. Loss of confidence

Over time, investors noticed that the project was not delivering on its promises, and community engagement was weak.