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Recent developments suggest strong growth potential for Internet computers (ICP). The launch of the Bitfinity Network, supported by $12 million in funding, aims to introduce Bitcoin Layer 2 solutions, improve EVM compatibility, and boost DeFi functions using ICP’s Chain Fusion technology. This positions ICP as a key player in blockchain interoperability and decentralized finance.
Bullish on $ICP pic.twitter.com/Mw0vbkiTtk
— Hotpizza (@FiZZonFire) December 20, 2024
The number of smart contracts on ICP’s network is also nearing 1 million, with a remarkable 387% increase in daily growth rate in 2024. This signals the growing adoption of its Web3 infrastructure and increased developer activity. These achievements highlight ICP’s rising influence in the blockchain space. The surge in smart contracts and cross-chain advancements with Bitfinity demonstrates ICP’s potential for long-term growth. Despite recent market volatility, its ongoing developments point to a bullish future, solidifying its role as a leader in blockchain evolution.
Key Internet Computer Levels To Watch – December 20
The ICP/USD pair is rebounding from the $10.050 support level, aligning with the 0.618 Fibonacci retracement zone. The MACD (Moving Average Convergence Divergence) shows signs of potential bullish divergence, indicating a possible trend reversal.
A breakout above the $12.170 SMA resistance could confirm a bullish continuation. If support holds, the next targets could be $15.000 and $16.280.
ICP Key Levels
Resistance levels: $15.000, $16.280, $17.990
Support levels: $10.050, $6.800, $4.960
ICPUSD Metrics
Total Market Capitalization: $3.34T
Internet Computer Market Capitalization: $4.97B
Internet Computer Volume: $295.82M
Market Rank: #30
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