A new year is hoping to provide a fresh start for the Internet Computer (CCC:ICP-USD) network. Despite a disappointing first year for the ICP coin, bulls and backer Dfinity Network aren’t ready to give up yet. In fact, the institution behind the project is calling 2022 “the year for ICP.” Some ICP crypto news is setting the pace for the currency as the new year takes effect. Could a slew of proposals help buoy the struggling coin?
Internet Computer looked poised to become one of the largest crypto networks in the world upon its launch. Its institutional backing, coupled with the funds it had raised prior to launch, seemed to justify its $450 launch price. However, since then, everything has been downhill, with ICP losing value steadily until it bottomed out below $50.
But could Internet Computer have simply been ahead of its time? Now, with the spotlight falling on Web 3.0 projects, there’s a reinvigorated interest in its internet-speed network and infinite scalability. Indeed, with the project allowing developers to create decentralized websites via Fleek, it offers a simple way to embrace Web 3.0.
ICP Crypto News: Internet Computer Gets a Web 3.0 Boost
This interest in Web 3.0 is bringing more investors in the direction of ICP, but the project is also taking deliberate steps to bulk up its network. Investors are digesting the network’s year-end ICP crypto news, which included a whopping 25 proposals introduced to the network. These proposals set a multitude of far-reaching goals for the network. And, they are doing well to get people excited about the currency today.
Toward the end of 2021, Dfinity rolled out the proposals, which encompassed multiple goals for the network in the years to come. One of the most notable is the approved bridge to Ethereum (CCC:ETH-USD); this bridge allows the hundreds of existing ERC-20 tokens on the Ethereum network to exist on Internet Computer. The network will also embrace Web 2.0 and HTTP systems. Other proposals focus on governance for DApps on the network. They also embrace DeFi on the platform and increase security and network performance. These proposals are all passing with flying colors, with investors quite excited about the ambitious plans.
Increasing interest in Web 3.0 combined with ICP’s quite robust plan for improving on its network is driving investors to the ICP coin to kick off the new year. Trading volume is on the rise for ICP in the last day. With over $900 million in ICP trading hands today, volume is up over 130% from yesterday. The influx of buying is doing well to boost the coin’s value as well. A 23% gain is bringing the coin’s price up to $34.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.