Internet Computer has pierced into the top 20 cryptos by market cap after pumping by 30% today and 56% this week. Currently, it is trading at $11.04 after peaking at $11.66 earlier today.
Is ICP now set to breach $10?
Internet Computer Hits Yearly High With Trading Volume Also Spiking
While many cryptos are in the red this week, a resurgence of excitement swept over Internet Computer, causing its price and trading volume to explode.
It is priced at $0.2839, holding a $868 million market cap and a 24-hour trading volume.
However, with an all-time high of $5.69, there remains significant room for growth should it keep rising.
Internet Computer is a multi-blockchain infrastructure project that “adds autonomous serverless cloud functionality to the public internet.” The project aims to offer decentralized cloud services to host blockchain dApps alongside legacy web2 programs.
It offers this under the title of “Blockchain as a service” and provides complete control and ownership to users. This makes Internet Computer a viable alternative to legacy cloud computing services, which have become bottlenecks to the Internet as 60% of data is now stored in the cloud.
However, the exact catalyst behind its recent pump remains somewhat unclear, with most analysts focused on its price chart rather than fundamental changes.
That said, one of the most prominent advancements amid the recent uptick is an announcement from the team regarding a partnership between Internet Computer, Gaudi Knowledge, and Moon Labs.
The partnership is with the South Korean branch of the Internet Computer team and will see the entities work together to “Recreate Gaudi’s architecture, arts, and unfinished design blueprints in the Metaverse on ICP.”
When writing this, Internet Computer currently holds the third spot on CoinMarketCap’s trending list, behind Bonk and Loopring.
While it remains to be seen if it will continue gathering momentum, analysts are notably bullish, given it has recently crossed the $10 landmark.
X commentator Crypto Gamer recently predicted that $20 could be next. The analysis highlights a falling flag breakout as the reason why.
Meanwhile, World of Charts believes its next move could propel it to the $17.5 resistance level.
However, traders must remain aware of the downside risk after such an explosive week. Those looking for a high-potential crypto yet to pump should consider Bitcoin Minetrix, a trending presale that aims to revolutionize Bitcoin mining.
Stake-to-Mine Bitcoin Minetrix Presale Raises $5.4M in 11 Weeks
With the halving roughly four months away, traders face a rare opportunity to buy Bitcoin before its monumental quadrennial event. However, one compelling crypto that could outpace Bitcoin amid the halving is the newly launched Bitcoin Minetrix.
The reason is two-fold: it offers immense value to the Bitcoin network, and it’s currently undergoing a presale, meaning investors can get in from the ground up.
Bitcoin Minetrix is a Stake-to-Mine crypto, enabling users to cloud-mine Bitcoin on the Ethereum network.
Users stake $BTCMTX tokens for Bitcoin mining credits, which they can burn on the platform for cloud mining power. This then translates to free BTC.
The genius lies in the fact that users can get started without mining hardware, technical expertise, or overhead costs. This makes Bitcoin mining more seamless and beginner-friendly, ushering it toward mass adoption.
Bitcoin Minetrix leverages a cloud mining concept to facilitate the operation. However, the decentralized and transparent $BTCMTX token eradicates the risk of cloud mining scams, which have long troubled the industry.
One of the reasons Bitcoin Minetrix could explode is that as Bitcoin becomes more valuable, so will $BTCMTX, but likely at a faster rate thanks to its lesser market cap.