Internet Computer (ICP) was one of the most exciting projects in the world of cryptocurrencies when it launched in May 2021, heavily promoted as the "next generation of the internet." But behind these promises, there were serious secrets and hidden agendas that suggested there was much more than just an innovative project. Let’s dive into the details and uncover how the story began — and where things went wrong.
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1. The Big Promise: A Decentralized Internet
At first, ICP was seen as a groundbreaking project built around an impressive idea: to transform the internet into a fully decentralized system, free from the dominance of companies like Google, Amazon, and Microsoft.
ICP was announced as a new network using advanced technology to create a "World Computer" that would allow developers to create and distribute applications on the internet without traditional servers or cloud services.
This promise attracted many investors who were seeking new opportunities to profit from a promising and innovative technology.
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2. The Rapid Rise: The Initial Boom
When ICP launched in May 2021, the coin saw a massive surge in value. On launch day, ICP reached a price of $700, making it one of the most valuable cryptocurrencies at that time.
This enormous rise attracted massive attention and created unprecedented hype, making many believe that this was the "golden opportunity" for massive returns.
But the reality was very different.
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3. Liquidity Manipulation: Pulling the Rug on Small Investors
While most small investors were buying ICP at high prices, hoping for massive gains, the founding team and early investors had entered the project at extremely low prices, long before public trading began.
This meant they held the majority of the supply while the price kept rising.
As demand for ICP grew, the founders and early investors started gradually selling off their holdings, leading to a sharp price collapse.
The hidden truth: After massive amounts of ICP were sold by these investors, liquidity was tightly controlled by large holders, making it almost impossible for small investors to exit the market once the price began to fall.
Proof: When the price dropped from $700 to under $50 within less than a month, it became clear that most of the early investors had already made massive profits while small investors were left facing heavy losses.
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4. Misleading Promotion: Selling an Illusion
Although ICP was technically an innovative project, there was a lot of exaggeration in its promotion.
Initial advertisements portrayed ICP as a revolutionary force that would reshape the internet, driving small investors to rush into buying the coin based on unsupported promises.
The hidden truth: Marketing campaigns heavily emphasized ICP's technology and its promise of decentralization while ignoring the many technical and economic challenges that could threaten its long-term sustainability.
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5. Liquidity Control: How It Affected the Market
Liquidity was one of the biggest issues with ICP. Despite the initial price surge, liquidity across exchanges was extremely low, making it difficult for small investors to sell their holdings as prices started to crash.
The hidden truth: The Dfinity team (the founders) maintained almost total control over ICP's liquidity, allowing them to manage buy/sell movements.
This enabled them to sustain short-term price stability while leaving small investors trapped and unable to react effectively.
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6. The Rapid Collapse: Massive Losses for Investors
Within less than a month after launch, ICP’s price collapsed dramatically.
From a peak of $700, it fell below $50, causing enormous losses for investors who bought in early.
The hidden truth: Once large investors started selling off their huge holdings, the price plummeted dramatically, leaving small investors facing massive losses — while the founding team and early investors had already exited with huge profits.
Most shockingly, those who invested $700 at the peak now only have about $5 worth of ICP left, clearly illustrating the devastating crash and the magnitude of losses for latecomers.
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Conclusion:
Internet Computer (ICP) is a stark example of how hype and aggressive marketing can lure new investors, while the founding team and early investors profit massively at their expense.
Although ICP might have been an innovative project, the tactics used in its marketing and launch made it a textbook case of how small investors can be left holding the bag after being drawn into a dream that was never meant to materialize.
Before investing in any cryptocurrency, always research its background thoroughly and look for signs of liquidity manipulation or misleading promotion.
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