Ethereum Gains 10%, ICP Surges by 15%

Ethereum Gains 10%, ICP Surges by 15%

In brief

  • Prices of Ethereum (ETH) and Dfinity's Internet Computer (ICP) tokens grew by 10% and 15%, respectively.
  • Goldman Sachs recently mentioned ICP in its report, calling the token "innovative" but "untested" and "complex."
  • As the market limps toward a slight recovery, two cryptocurrencies have pulled out ahead of their peers today: Ethereum (ETH) and Dfinity’s Internet Computer (ICP) token.

    ETH is worth $2,015, up about 10% on the day, according to crypto metrics platform CoinGecko. It’s the first time the cryptocurrency has risen above $2,000 since Thursday.

    And ICP, a utility token native to the “internet computer” blockchain developed by Dfinity, rose by 15% today after Goldman Sachs mentioned it in its latest cryptocurrency report. Trading volume more than doubled.

    Titled “Digital Assets: Beauty Is Not in the Eye of the Beholder,” the report explored the “enormous change in the world of cryptocurrencies and blockchain technology” since 2017 and highlighted several “next-generation decentralized platforms”—including Dfinity.

    In a cursory flick-through of crypto, Goldman called Dfinity “innovative,” and said it “could pave the way to the future.” As for disadvantages, the investment bank said the platform is “untested, early stage, complex.”

    Goldman also mentioned Ripple (XRP), Algorand (ALGO), Solana (SOL), Polkadot (DOT), and Ethereum 2.0. However, the prices of these tokens did not rise as much as ICP.

    ICP’s current price, $42, is still far short of its all-time high of $737, recorded on May 10, shortly after its launch.

    Other cryptocurrencies also rose today, though by far less. Bitcoin (BTC) is worth $34,555, up around 2.5% over the past 24 hours.

    Binance Coin (BNB), Cardano (ADA), Dogecoin (DOGE), XRP, and Polkadot (DOT) all rose by between 2% and 3.5%.

    Source