Internet Computer slipped into another all time low ($24.29), now down 96.5% from ATH and out of top 35. Almost every market indicators looks negative with very modest news on development. “The project remains underdeveloped as a whole even after years of work”

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Just 7 months ago, ICP created a phenomenon on social media when its launch with the price reaching $700.65 on 10 May 2021, making it to the top 10. But the reality soon came crushing down just a month later when it fell to the local all time low on 27 June 2021 at $30.09. It’s not the bottom yet, another all time low was recorded on 21 Jul 2021 at $28.72.

Is this enough all-time-low yet? No. ICP slipped into another all time low earlier this month at just $24.29, down 96.5% from all time high.

Coingecko data about ICP

ICP is now sitting at a market cap of $5B, currently ranked 37th. At its height in May, its market cap was $18.5B.

In terms of development news, there has been very few and insignificant updates. The latest news is 2 weeks ago, in which it stated 3D NFTs make their way to ICP. No significant milestone, no real delivery or real results.

‘3D’ NFTs make their way to the Internet Computer (ICP) network – CryptoSlate

Another news is in relation to $172,000 NFT. It’s hardly anything, compared to some other NFTs that had been sold for several millions.

PokedStudio recently auctioned off a range of digital bots on an NFT marketplace, with the highest sale raking in 3,000 ICP – BeinCrypto

The Simmetri report scored ICP a C- and stated “Monthly token unlocks are expected to drive the price down further”, “The project remains underdeveloped as a whole even after years of work” and “Given DFINITY’s progress so far, even at current prices, the project looks significantly overvalued. As a result, we expect that the token price will continue to slide and do not recommend buying it.”

Simetri report on ICP, as featured on CMC

What do you think? Will ICP slip to further all time low records in the next year?

submitted by /u/milonuttigrain
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