Internet Computer ICP Price Prediction: Can ICP Crypto Reach $1000?

May 30, 2024

Price Prediction

Sean Korbett

Internet Computer (ICP) brings the concept of a World Computer to life. It is an open, safe, blockchain-based network that can store data and applications in the form of smart contracts, execute those computations in a reliable and secure manner, and grow forever. The project brings together a sizable number of individually configured node machines operated by different data centers across the globe. Like other blockchains, it is unstoppable and its programming is impenetrable. Occupying the 22nd place in the crypto ranking, Internet Computer is set for a bigger future. What will it cost in the next decade? Discover the long-term ICP price prediction in StealthEX’s latest article.

Internet Computer (ICP) Overview

Internet Computer developed by DFINITY expands the Internet’s functionality so that it can host back-end software, transforming it into a global computing platform. It’s powered by new ‘chain key cryptography’ that allows it to run at web speed with efficiency that is many orders of magnitude improved, for smart contracts to serve web directly to end users, and for on-chain compute to scale without bound. Thanks to the Internet Computer’s groundbreaking chain key cryptography, users do not need any tokens to use a dApp nor is it necessary for anyone to download blockchain state to verify correctness of transactions. 

Internet Computer uses a decentralized protocol called ICP (Internet Computer Protocol) run by a network of independent data centers around the world. At Genesis on 10 May 2021, Internet Computer was powered by 48 data centers from Europe, Asia and North America, together running 1,300 nodes. DFINITY uses a variation of the Proof-of-Stake algorithm (called Threshold Relay) to reach consensus. 

The project itself was founded in October 2016 by Dominic Williams and raised a total of $121 million from contributors like Andreessen Horowitz, Aspect Ventures, Electric Capital, ZeroEx, Scalar Capital, Polychain Capital, SV Angel, and Multicoin Capital, and several notable early Ethereum investors. On May 10, 2021, DFINITY Foundation released the Internet Computer into the public domain, a major milestone that indicates that the Internet Computer currently functions as a decentralized global computer, as mentioned by the release of all of the Internet Computer’s source code into the public domain.

ICP Features

Internet Computer Protocol offers a number of features within the crypto space. These are:

1. No usernames or passwords. On mobile or portable HSM devices like the Ledger wallet or YubiKey, fingerprint or face recognition technologies can be used to maintain privacy and prevent cross-border tracking.
2. Users don’t require wallets or tokens. The reverse gas model offers really user-friendly, free-to-use dApps that are prepared for mass adoption.
3. Actual scaling. The IC scales to an infinite number of dApps and permits unlimited data storage by routinely introducing additional subnets.
4. Lack of tracking. Users who use the Internet Identity identification method won’t be tracked across dApps and services, which is a great advantage.
5. Websites are served via smart contracts. Like ordinary websites, users can open canister smart contracts directly in their browsers.

Internet Computer (ICP) Price History Highlights 

All-time ICP Price Chart, CoinMarketCap, 30 May 2024

• 2021: The Internet Computer was incubated and launched by the DFINITY Foundation in May 2021. With an ATH price of $750.73 and a 24-hour trading volume of $132,334,588, the ICP was ranked 36th among cryptocurrencies just over 14 months after its launch. This is an increase of 18.05% compared to 3.83% around early July. By June 2021, ICP coin had lost most of its value, dropping below $30. 
• 2022: Even after nearly a year, ICP price did not reach its all-time high set in the initial days after launch. In fact, ICP’s price reached its lowest point in mid-2022, when it dropped below $15, while its market cap tumbled to around $3.5 billion. 
• 2023: In December 2023, ICP witnessed a significant surge in price, accompanied by heightened trading volumes, and broke the upper border of the trading channel. This breakout from the trading channel is considered a bullish pattern, suggesting the potential for further upward movement. The broken resistance level underwent a successful retest, leading to a rebound in price.

ICP Price Chart for last year, CoinMarketCap,30 May 2024

2024: The token didn’t react to the bullish trend in the beginning of 2024, swaying within the price range of $11-$13. At the moment, it trades between $11 and $14.

ICP Price Prediction

ICP Price Prediction 2024

DigitalCoinPrice experts believe that in 2024 ICP coin’s price might go as low as $10.81 (-10%), while at its high it can reach $26.63 (+119%).

PricePrediction crypto analysts expect that in 2024 ICP coin will fluctuate within a narrow price range: $15.14 (+24%) at its low vs $17.45 (+43%) at its peak.

Telegaon crypto experts believe that in 2024, ICP will considerably rise in price: the lowest price level it can hit in 2024 is $19.95 (+64%) vs its maximum price of $30.17 (+148%).

ICP Price Prediction 2025

According to DigitalCoinPrice, in 2025 ICP coin will make significant progress: it can go as high as $31.54 (+160%) at its peak. Its lowest price might drop to $26.03 (+114%).

PricePrediction forecasts promise that in 2025, ICP’s lowest price is going to reach $22.02 (+81%), while at its highest point ICP crypto can get to $26.83 (+121%).

Analysts at Telegaon expect that in 2025, ICP coin might reach a maximum price of $46.18 (+281%), while at its lowest point it can drop to a minimum of $30.61 (+152%).

ICP Price Prediction 2030

According to DigitalCoinPrice forecasts, Internet Computer crypto will be trading within tight price levels: in 2030, the highest price ICP crypto may reach is $90.47 (+646%) per coin. It can also drop in price to a minimum of $81.9 (+575%) per coin.

According to PricePrediction forecast, by 2030 ICP’s lowest price is projected to be $150.26 (+1,139%), while at its peak it’s supposed to reach $178.59 (+1,373%).

Telegaon price predictions estimate that by 2030, ICP is going to reach $139.18 (+1,048%) at its minimum and might trade at a maximum of $175.41 (+1,347%).

ICP Price Prediction 2040

According to PricePrediction forecasts, in 2040 ICP is going to be widely adopted and its price, in turn, will skyrocket: its minimum price is expected to reach $8,553 (+70,469%), while its maximum price is going to hit $10,476 (+86,335%).

If we are to believe Telegaon experts, by 2040, ICP is going to significantly increase in price: $359.23 (+2,863%) at its minimum vs $402.54 (+3,221%) at its maximum.

ICP Price Prediction: Experts’ Opinions

Internet Computer offers a number of innovative features that, if adopted widely, can change the way we use the internet today. For instance, The Internet Computer connects your online activities with your physical tech devices, such a laptop or smartphone, by using what’s known as an Internet Identity, eliminating the need for passwords and the hazards associated with hacking.

Furthermore, you won’t have to worry about intrusive pop-up advertisements or data leaks from centralized server hacks. Unless a user voluntarily gives it to someone else or allows access to a registered physical device, no one can access their account or any information about the user.

The near-zero cost of NFT transactions on the Internet Computer will make it simple and impenetrable to track and verify both individual and collective ownership of intellectual property. In addition to this, Internet Computer subnets do not employ Proof-of-Stake or Proof-of-Work consensus techniques, which only call for extensive digital mining operations to execute transactions, in contrast to Ethereum, Bitcoin, and many other blockchains. Subnets of Internet computers communicate instead using chain key technology. 

All these innovative features can become extremely useful in the future, which, in turn, might lead to a further increase in price for ICP, and many experts acknowledge this. According to websites like CryptoNewsz, in 2030 the coin may have a maximum value of $202.33.

ICP USDT Price Technical Analysis

Tradingview, May 30, 2024

Now that we’ve seen possible price predictions for ICP, let’s find out a bit more about the factors that can influence its price.

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Factors Affecting ICP Coin Price

There are many factors that can influence the price of Internet Computer coin in the future. The supply and demand in the market are important variables. Prices are likely to rise if there is a limited supply of ICP cryptocurrency and a high demand for it. However, if there is more supply than there is demand, the price can go down. Furthermore, events and news pertaining to ICP cryptocurrency may have an effect on its price. While bad news might have the opposite effect, good news (like new partnerships or developments) can raise prices. Technological developments, regulatory changes, and general market sentiment are further influences. It’s critical to monitor these variables when examining ICP cryptocurrency’s price.

When assessing ICP as an investment, keep the following considerations in mind:

• Supply and demand;
• Market sentiment;
• Technological developments;
• Wider adoption;
• News;
• Regulatory decisions.

Risks and Opportunities

DFINITY’s product security team systematically prioritizes new features and their associated risks for internal security reviews. Engineering teams take ownership of the security bugs found in their respective components, following an internal protocol on how these security bugs are handled. Enabling the ecosystem with resources and advice to develop secure and reliable dApps is essential to treating Internet computer security seriously. From the point of view of security, ICP is a top-notch project and can be seen as a safe platform.

In addition, according to Dominic Williams, the founder of DFINITY, the protocol is planning to integrate facial recognition technology as the next major update in its AI smart contract innovation. While the exact details are yet to be unveiled, the Internet Computer founder said succeeding in this regard will be a lift.

All these enhancements and technology can propel the project higher in the crypto industry. However, as with any crypto investment, ICP is a risky choice most suitable for investors with high risk tolerance.

Is ICP Crypto a Good Investment?

Investing in ICP can be a smart choice. To begin with, the business has been working hard on creating and improving its project. When DFINITY introduced the Internet Computer Developer Ecosystem Program in May 2021 with a $223 million fund, it was one of the milestones. To entice developers to create tools and dApps for the Internet Computer was the goal.

Secondly, ICP seems like a potentially wise investment if we take into account its value from a fundamental perspective and what it has to offer.

Will ICP Reach $100?

It’s possible, however, the project has to be widely adopted, and this won’t happen within the next few years.

Can ICP Reach $1000?

ICP will have to increase by over a thousand percent from its current levels in order to hit $1,000. Although such gains are not unprecedented in the cryptocurrency world, there doesn’t appear to be a significant enough catalyst driving the token to these heights at this time.

What Will Internet Computer Be Worth in 2025?

If we are to believe websites like Telegaon, by 2025, ICP coin will reach $46.18 at its peak.

What Is the Price Target for ICP in 2030?

According to PricePrediction, in 2040 ICP will be trading at $178.59 at best.

What Is the Price Prediction for ICP Coin in 2040?

Websites like PricePrediction state that by 2040, ICP coin is going to skyrocket and reach $10,476 at its peak. Other websites, like Telegaon, think that it will be able to reach $402.54 at its maximum.

Does ICP Have a Future?

With its innovative technology and ambitious goals, ICP occupies a large share on the market, and this is indeed one of the reasons to believe that the project does have a future.

Can ICP Go Up?

It’s hard to say, however, most predictions state that ICP will develop further and rise in price. 

Why Should I Buy ICP?

With its solid foundation and a new approach to the way the internet is constructed, ICP can be a lucrative investment for investors with high risk tolerance. It has strong financial backing and innovative technology and may become a stronger player on the market in the future.

Conclusion

The Internet Computer is a new approach to hosting blockchain applications that facilitates ownership, enhances security, resists censorship, and is more developer-friendly. These advantages are provided by numerous technological blockchain developments, such as chain key cryptography. With its goal to decentralize the internet, Internet Computer is set for a bigger future.

How to Buy ICP Crypto via StealthEX?

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.