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Cryptocurrency News Articles
Internet Computer (ICP) to Be Top 5 Crypto by 2025? These Metrics Suggest 20X Price Growth
Sep 28, 2024 at 05:00 am
FredCrypto, a famous analyst, gave insights into the Internet Computer Protocol (ICP) and if it could be among the top 5 digital coins by 2025 in a YouTube video.
A popular crypto analyst, FredCrypto, has shared his thoughts on whether the Internet Computer Protocol (ICP) has the potential to跻身 the top 5 digital coins by 2025 in a recent YouTube video.
According to his analysis, ICP could experience significant growth, possibly reaching a valuation of $80 billion in the future. This analysis compares ICP to major competitors like Solana and Binance Coin (BNB), offering insights into why the Internet Computer Protocol’s superior technology may drive a 20x price increase.
ICP’s Market Cap and Price Growth Potential
Fred Crypto believes that ICP has the capability to leap into the top five cryptocurrencies, surpassing Solana and Binance Coin. However, it's important to note that this $80 billion value would be much higher than what ICP is worth at the moment.
The analyst suggests that ICP’s price could go up 20x, driven by its advanced technology and increasing adoption in decentralized applications (dApps). He adds that ICP is cheaper to use than other comparable options. For instance, a transaction on ICP costs around $0.008, compared to Ethereum’s $1.40 fee.
ICP’s Transaction Speed and Scalability
When it comes to transaction speed and scalability, Fred highlights that ICP excels. It can reportedly process 11,000 transactions per second (TPS). This is faster than Solana’s 3,000 TPS and Ethereum’s 12 TPS.
This speed is crucial for users who want to use digital money for everyday purchases and transactions. Additionally, the protocol achieves scalability without compromising decentralization or security, offering a solution to a common challenge faced by other blockchains.
With a transaction finality of just 1-second, ICP is on par with top competitors like Solana and Binance. Faster finality makes ICP more suitable for DeFi and other time-sensitive applications, giving it an edge over slower networks like Bitcoin and Ethereum.
ICP’s Use Cases and Decentralization
Interestingly, unlike many blockchain networks, ICP enables average users to become validators with a relatively low entry cost of 32 ICP (around $256).
This democratization contrasts with the high costs associated with networks like Ethereum and Binance, which often require users to join staking pools. ICP’s ability to scale while maintaining decentralization could further increase its appeal.
The blockchain’s unique smart contracts also allow it to run artificial intelligence fully on-chain, setting it apart from competitors. With support for large data storage and parallel processing, ICP expands the use cases for blockchain technology, particularly in AI-driven applications.
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