ICP Price Prediction Today: Will ICP Reach $10,000?

ICP Price Prediction Today: Will ICP Reach $10,000?

The current Price of the ICP token is:

Internet Computer Price Prediction: Technical Recommendation

ICP Price Prediction Today

Overall OutlookNeutral
1. Market's WisdomNeutral
1a. Market DataPartially Positive
1b. Technical RecommendationSell
2. Crowd's WisdomNeutral
2a. Social Media BuzzSteady
2b. Social Media SentimentNeutral

ICP Price Prediction $1000

The current market price of the ICP token is $5.71 and it requires to grow by nearly 175 times to reach a price level of $1000.

Also, its price was at its highest when it was launched and the price is decreasing since then. However, from June 2021 to September 2021, it has shown a growth of 2.58 times (from a price level of $30.39 to $78.38). Thus, it grew by nearly 0.85 times in one month.

Hence, to reach a price level of $1000, the ICP coin needs at least 205 months (slightly more than 17 years).

Furthermore, it also depends on the market’s economic conditions at that time; hence, it might need even more time than calculated.

Will ICP Reach $10,000?

Considering that reaching $1000 is not much feasible for the ICP coin, reaching $10,000 becomes even more difficult. Let us also analyse this mathematically.

To reach $10,000, the ICP coin needs to grow by 1,751 times, considering its current market price of $5.71.

Thus, it can grow by 0.85 times in a month, ICP coin certainly needs a minimum of 2,059 months or 171 years, which is not at all practical.

ICP Tokenomics And Use Cases

ICP tokens have a total supply of 494,359,515 tokens, out of which 284,524,186 ICP tokens are currently in circulation. The following are the primary three use cases of the ICP token:

  • ICP tokens can be staked in a permissionless Network Nervous System DAO to earn rewards.
  • It also acts as a store of value and allows users to invest in decentralisation sales through Web3 services.
  • As a governance token, ICP token allows its holders to participate in the protocol’s governance through voting mechanisms.

ICP Token Economics Report for 2022

The following attached is the annualized Inflation Rate of ICP (for all the months in 2022) and it says that the inflation rate for ICP was varying because NNS participants were converting their rewards from maturity to ICP.

image 464

The below-attached chart depicts the month-wise minted ICP ( including spawned, merged and node rewards ICP).

image 465

Note that the neuron holders get their governance reward in the form of maturity and they can convert that into ICP and hence, accumulated maturity can also be considered as delayed inflation.

The below-attached chart depicts the maturity accumulation for the past year (month-wise).

image 466

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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