Quote from: Sithara007 on Today at 04:32:44 AM

Quote from: poodle63 on June 11, 2021, 05:55:43 AM

I see ICP as more of the same case with any IEO coin that instantly got listed in some big exchange, it reaches some ridiculous fee and then tank.
as I've seen ICP was really hyped so much that the price could reach as high as $800 and I was almost get fomo'd thinking it could hits $1000 trying to make an
entry at around $500m though I stopped since the market at early stage of listing is really volatile and than proves me right, though the current price I think it's undervalued.
Maybe I will also try to accumulate some but the thing I was most afraid was the same as you, the market cap grows so fast it's actually feels dangerous.

It is clear that the promoters were not interested in long term growth of the project. The price was kept extremely high (at least by a factor of 10x). There was a lot of dumping going on, right from the beginning (and looking at the trade data, I don't think that a majority of this came form the airdrop recipients). What we saw in ICP is very similar to the case with some of the other previous projects. The promoters came up with a very innovative idea, create a lot of hype and thereby pump the prices. When the prices are at peak, they will dump their tokens and make the exit. Those who purchased the tokens at peak levels will be now stuck with them, as the development will never kick off. The promoters have received a lot of money and they will be no longer interested in this project.

Development is still going on I won't say that they are not working on the product. This is not an easy project by the way, what they are trying to create will change the way cloud computing works. Creating a decentralized infrastructure on already established centralized infra takes time. If they are successful this token will pump a lot. The key is to be patient and HODL.