Dfinity's Internet Computer Ranked 4th on CoinMarketCap, Moves to 7th Position

Sahaj  |  May 11, 2021

The newly launched Internet Computer of Dfinity is already making waves in the world of Blockchain following its launch on Friday. The Internet Computer (ICP) token has reportedly become the fourth largest cryptocurrency in terms of market capitalization in accordance with the data released by CoinMarketCap.

Internet Computer of Dfinity Rocking in the Blockchain Universe

The token of the project named Internet Computer Price (ICP) has been launching on a number of high-profile crypto exchanges throughout the last week. 

Exchanges such as Huobi, Binance, Gate.io, Coinbase, and OKEx were included.

A number of analysts are stunned by witnessing the sudden appearance of the token within the blockchain community in such a high place on the market aggregators’ official rankings. However, it later slips to the 7th position.

Regardless of the late launching of the Internet Computer Price Token, the project has already been in the stages of development for five years.

In addition to this, the project has been developed by Dfinity, a not-for-profit organization based in Zurich. 

Moreover, the project has managed to allure several impressive backers, including Polychain Capital and Andreessen Horowitz.

In accordance with the revelations by leading market analysts, the project was launched last week with the multiple ecosystem companies including Distrikt, a professional social network, Enso Finance, a decentralized exchange, Origyn, a provenance platform for luxury goods, and Fleek, an infrastructure for the decentralized web, among other companies.

Crypto Community Members Dubious of the Project

The fact that the aims of the project are quite ambitious can not be denied. 

The Chief Scientist at Dfinity, Dominic Williams, has recently reported that:

“We want people to abandon traditional IT and move all systems and services to smart contracts.”

Well, it should also be noticed that the Internet Computer project is gaining criticism from some of the members of the crypto community as it has been described as a centralized crap and some marketing.

Along with this, some have described the Internet Computer as an Ethereum killer.

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