The Meteoric Rise Continues for the ICP Coin

The Internet Computer Protocol (ICP) has developed the world’s first web-serving public blockchain, which is known as the Internet Computer. It is self-contained and can expand its capacity as needed. 

This technology combines a large number of customized node machines run by independent data centers worldwide. It is an unstoppable blockchain, and the programming it hosts is tamperproof. 

With a high demand for technology in recent scenarios, it is very much predictable that the possibilities of Internet Computer Protocol’s use cases can be immense. 

Valor Launches First Physical ICP Staking

Valour has significantly impacted the crypto world by launching the first physical staking ETP backed by ICP, the native token of the Internet Computer blockchain. This historic launch paves the way for massive adoption of crypto by traditional investors.

Valour’s ICP Physical Staking is a truly innovative financial product. Unlike a traditional crypto ETP that only tracks the price of a digital currency, this one incorporates staking rewards.

Valour uses the ICP held in the ETP to stake on behalf of investors. The generated rewards are then distributed to holders as a fixed daily coupon, awarded in new ICP tokens. Thus, the yield for the investor is twofold. They benefit from both the price evolution of ICP and the staking crypto rewards.

This mechanism is a small revolution, dramatically simplifying crypto access for traditional investors. Until now, many institutional investors, like pension funds or insurers, have been put off by the technical complexity of staking. With just one click, they can allocate a portion of their assets to ICP without worrying about the intricacies of blockchain validation.

Technical Analysis of ICP Coin Price 

The ICP price is currently surfing the 50-day Exponential Moving Average (EMA). The levels show strong support downward at $12.20, while the 150-day EMA is at $9.26, which shows that the trend is quite bullish. This trend indicates that the north is the path with the least resistance.

A decisive candlestick closing above the immediate resistance level of $14.43 would confirm the uptrend’s continuation. The ICP price is likely to flip the order block into a bullish breaker above the $14.00 psychological level.

In a highly bullish case, the ICP price could extend the climb to the $15.33 higher, reclaiming or clearing the range high of $16.30. Such a move would constitute more than a 27.4% climb above current levels.

Conclusion

Valour has launched the world’s first physical staking ETP backed by ICP, the native token of Internet Computer blockchain. It could lead to widespread adoption of crypto by traditional investors. The ICP price is currently riding the 50-day EMA and could reach $15.33 in a highly bullish scenario.

Technical Levels

Support Levels: $9.4, $7.1

Resistance Levels: $14.4, $16.2

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.