Internet Computer (ICP) Rallies by 8%, Outperforms BTC and Others

TL;DR

• ICP is the best performer amongst the top 20 cryptocurrencies by market cap.

• It is up by nearly 60% in the last seven days, outperforming the other major cryptocurrencies.

ICP Rallies by 58% in a Week

Internet Computer (ICP), the native coin of the Dfinity ecosystem, is the best performer amongst the top 20 cryptocurrencies by market cap. The coin is up by more than 8% in the last 24 hours and is now trading at $14.09 per coin.

There is no immediate catalyst for this rally, with the coin surging despite the broader crypto market retracing in the last couple of hours. Over the last seven days, ICP has added 58% to its value, outperforming the other major cryptocurrencies.

The recent rally saw ICP overtake several cryptocurrencies in terms of market cap, including Shiba Inu, Litecoin, Bitcoin Cash, and Uniswap. With a market cap of $6.4 billion, ICP is now the 16th-largest cryptocurrency by market cap. 

The broader cryptocurrency market has slightly retraced after its rally on Tuesday. Bitcoin, the world’s leading cryptocurrency by market cap, is down by less than 1% in the last 24 hours and is now trading above $45,300 per coin.

Meanwhile, Ether continues to trade above $2,300 despite losing 1% of its value so far today. With the major coins underperforming, the total cryptocurrency market cap has dropped to $1.73 trillion, down by less than 1% in the last 24 hours.