Continued IPC falling and Grayscale Investments Exploring Additional Assets

[walletrecovery]

BTC chart from 18 May to 18 Jun


ICP chart from 18 May to 18 Jun


TOKEN SALE:
Ticker: ICP Token type: ERC20
Fundraising Goal: ETH
Sold on presale: 102,000,000 USD (% BONUS)
Total Tokens: 469,213,710
Available for Token Sale: 4.75%
Available for Token Sale: 4.845.000
Price per 1 Token: 21,05$

Source: https://icodrops.com/dfinity/

UPDATE 19 Jun: Grayscale Investments Exploring Additional Assets https://grayscaleinvest.medium.com/update-grayscale-investments-exploring-additional-assets-e4e80da683bb
When I see the news from these guys that they bought the ICP, I understand why the price has been going down for such a long time. Now I hope that ICP will only grow in value.

[speedforce]

BTC chart from 18 May to 18 Jun


ICP chart from 18 May to 18 Jun

I dont know why its pump happen before, but after great spike like before the hype will going down moreover the market crash happens.

[Fivestar4everMVP]

Well, this is a clear indication that the coin was over priced in the place, probably the project does not currently worth the amount the coin is trading on currently in the market, investors are taking profit while those who probably bought high and panic selling causing the price to even drop further.
This is why is it very important that we as investors don't rush in to invest in a coin just because it just launched and the project looks promising, most especially, when a coin launches at a really high price like ICP did when it first got listed on coinmarketcap, thoughany people must have made a lot of money from this coin, but if it continues to go down, much more people are gonna loose too much money too, the team should do something to stabilize the price at least.

[MishaSER]

Well, if you really look, what they offer is innovative, but the product is very raw and unfinished. In addition, as I know, many users have received an airdrop and most likely the market maker wants to buy it cheaply.

[covfefe_]

The main reason is it's rise in price. Yeah they have some promising words in their whitepaper but were the new tokens worth billions of dollars just after being distributed? The rise was spectacular and the correction was due. Unless ICP comes with strategic partnership or promotions to attract developers build their project over it, the price would further keep decreasing.

[Quidat]

Everything would vary on the demand as simple as that and you do make out some questions on why its price is plummeting? Of course it will tell about on the demand because if such thing do exist then you wont really be seeing those decreasing in price and also it isn't really just right on making out some comparison
between Bitcoin and ICP in terms of movement in a particular timeframe because if we do compare about the duration or the time of their existence then it
is way too far off to make out such comparison and it isn't really just a solid indication for you to tell that both is similar.

[cabron]

All coins are going down, it's not just ICP. I guess we are in the bear market, too bad for the users whose ICP tokens are still locked. ICP arrival to the top 10 on coinmarketcap was surprising because the project doesn't have anything to provide to its holders but whitepaper. But do not worry, all coins are red anyway, we are all in this together.

[passwordnow]

Everything is dropping today. And AFAIK, ICP also held their airdrop. So what I think, those people who have received their airdrop and even if it's going in batches, they're dropping it to exchanges quickly for them to dump it.
That's free money that they shouldn't miss and they don't care whatever the price is as long as they can dump it whether the price is also dumping. It's still free profit for them. That's idea that I'm thinking why it keeps on dropping.

[Cherylstar86]

We shouldn't be focusing only on one coin, btc and other tokens also went down. But I'm positive after this crackdown, that there's a much better future waiting behind because before massive pumps we're going to see red days due to panic sellers. This isn't a new things in crypto, so if you're an experience trader you won't get intimidated with this situation right now. Keep an eye most of the time and don't be afraid.

[Twinkledoe]

Everything is dropping today. And AFAIK, ICP also held their airdrop. So what I think, those people who have received their airdrop and even if it's going in batches, they're dropping it to exchanges quickly for them to dump it.
That's free money that they shouldn't miss and they don't care whatever the price is as long as they can dump it whether the price is also dumping. It's still free profit for them. That's idea that I'm thinking why it keeps on dropping.

This is true, those users who got it for free don't care how much it is being sold in the market. As long as they can get rid of the coin in exchange of btc or other popular alts that they can use for themselves. Because let us admit, not many people has the patience to hold a coin especially if he doesn't believe on the capability of the project. Most of us always go back to the top alts like BTC, ETH or BNB. If the dev of the coin is not aggressive and they have weak foundation, would be hard for them to rise up again. So if you are a holder, you really should keep up with their updates, otherwise, your immediate action is to sell the coins that don't matter much to you.

[Ararbermas]

It's very obvious mate that the market still not fine and mostly were struggling even those trusted projects, i mean top 10 coins in the market.. So how comes it will make good improvement while some projects can't even make bump on the chart , and its a new project? Well its impossible in my view unless if they have good team behind such those new coins that very aggressive despite of situation..  But for sure it will not become stable as long as the matter still showing negative results.

[CryptoYar]

ICP coin is constantly falling. What's going-on?

There are two reasons behind this dump.

1) BTC; bitcoin price is not stable and there is uncertainty in the market. This is the reason why almost every altcoin is dumped and ICP is also one of them.

2) Tokenomics

Tokenomics of ICP is a bit strange. At the time of ICP being released to the public, 50% of the supply was locked with the creators, and another major portion was locked with investors who invested in the project. Every month, a fixed supply of coins from this supply is introduced into the market which dilutes the demand and supply goes down each month, as more ICP tokens are available in the market over. Crypto experts believe this is the main reason behind the fall in the price of ICP.

2)A big airdrop;  I heard from a Coinlist User that he got half million $ worth of ICP tokens as a airdrop. Maybe he used too many accounts for this airdrop. but Dfinity team gave 119 ICP coins per user who sent $9. So it was not big airdrop as I thought

Don't know it is true or not but it could be a reason of such huge dump, $700 to $48

Edit: A Reddit post about airdrop

[southerngentuk]

This coin was inflated in its price when the market was in a strong bull phase, and now its price has fallen many times over the ATH it achieved. I think the current price is the price that properly evaluates the ability of this coin in the current market.

[walletrecovery]

ICP coin is constantly falling. What's going-on?

There are two reasons behind this dump.

1) BTC; bitcoin price is not stable and there is uncertainty in the market. This is the reason why almost every altcoin is dumped and ICP is also one of them.

2) A big airdrop; I heard from a Coinlist User that he got half million worth of ICP tokens as a airdrop. Don't know it is true or not but it could be a reason of such huge dump, $700 to $48

I would like to draw your attention to the fact that the BTC chart and the ICP chart differ in that BTC remained at the same price for 30 days, and the ICP continues to fall. Other coins move with bitcoin, but not ICP :-)
We all saw that this coin was in 4th place in the world, so I guess that it must have some kind of character and resistance, or is it a stone that only knows how to fall? What can you say about this? Thanks for answers.

[rhomelmabini]

It's on $21 for a token sale and it blows up when it get listed on Binance (that's my guess), and I think that's the reason it was still on a downtrend. The token sale buyers surely was still in profit even at this stage but if a new drop comes to BTC again this coin may get dragged again.

I guess it's still on its distribution phase but what does really ICP is solving? If it's solving a huge problem and has use case for the world then better to hodl it and don't get nervous with such price actions and if ever yourself was a token sale buyer then you're still in a x2 profit.

[passwordnow]

Everything is dropping today. And AFAIK, ICP also held their airdrop. So what I think, those people who have received their airdrop and even if it's going in batches, they're dropping it to exchanges quickly for them to dump it.
That's free money that they shouldn't miss and they don't care whatever the price is as long as they can dump it whether the price is also dumping. It's still free profit for them. That's idea that I'm thinking why it keeps on dropping.

This is true, those users who got it for free don't care how much it is being sold in the market. As long as they can get rid of the coin in exchange of btc or other popular alts that they can use for themselves. Because let us admit, not many people has the patience to hold a coin especially if he doesn't believe on the capability of the project. Most of us always go back to the top alts like BTC, ETH or BNB. If the dev of the coin is not aggressive and they have weak foundation, would be hard for them to rise up again. So if you are a holder, you really should keep up with their updates, otherwise, your immediate action is to sell the coins that don't matter much to you.

Yes. I reckon that, everyone wants to have a better coin that's on the top. Although ICP was quickly became a top altcoin, there's still a need to understand the market doesn't always stay for specific coins at the top and this has happened to ICP. I think it was higher before than what it is today. The current rank is 20 and the price is $51. But you see the chart of it before and it's far from its opening price which usually is the phase of dumping by those who got it.

[Bitstar_coin]

This is happening to  most of the coins that pumped so high during this bull season, icp is not the only project who is constantly falling, in addition to the present market status, btc is not doing well at the moment so are te rest of the alts market, but i believe this coin has potential so patience is what is necessary to survive through this time, perhaps the whales are accumulating at this low price.

[walletrecovery]

This is happening to  most of the coins that pumped so high during this bull season, icp is not the only project who is constantly falling, in addition to the present market status, btc is not doing well at the moment so are te rest of the alts market, but i believe this coin has potential so patience is what is necessary to survive through this time, perhaps the whales are accumulating at this low price.

Grayscale Investments Exploring Additional Assets https://grayscaleinvest.medium.com/update-grayscale-investments-exploring-additional-assets-e4e80da683bb
When I see the news from these guys that they bought the ICP, I understand why the price has been going down for such a long time. Now I hope that ICP will only grow in value.

[LUCKMCFLY]

Apparently ICP is gaining more popularity among crypto investors, as it is seen that it can rise a little more if things happen, in fact some are reviewing that through technical analysis this currency at the time of growing BTC can generate short-term profits :

If bulls push the price above $60, the ICP/USDT pair will complete a 1-2-3 bottom formation. The pair could then rally to $72.61. Subsequently, if bulls arrest the next decline above the 20-day EMA, it will suggest that a new uptrend has started.

Source: https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-eth-uni-icp-aave

Of course, a possible fall in BTC cannot be ruled out, anything in crypto can happen, however now we have the option that many think that btc will give good bullish surprises, it is likely that possible movements will already begin to be seen in the market.