Dfinity Founder Shuts Down All Rugpull Claims About Internet Computer Tokens (ICP)

Based in Zurich, Dfinity Foundation is a non-profit organization that develops technology for the Internet computer (PCI) blockchain and its growing ecosystem.

After five years of development, the project has finally spear its governance token for public exchanges in May 2021.

After a day of trade carnage, ICP landed among the top 10 cryptos, but the hype was of short time because the token lost more than 80% of its value the following month.

Artificial drop price

“There is a tidal wave of disinformation out there, which reflects the significant impact of the internet computer on the blockchain industry,” said Dominic Williams, Founder, Chairman and Chief Scientist of the DFINITY Foundation and the Internet Computer project. CryptoSlate.

According to him, “this disinformation is created by professionals who bypassed ICP, by accomplices of competitors, by lawyers who run after ambulances and by members of the press who just want click traps”.

“The highest actual price was logged for a few hours on the first day and was just over $ 450 (see Coinmarketcap.com). After that spike, the price fell fairly steadily the following month and then over the next three months so far it has remained relatively stable. Over the past week, it hit $ 88, “Williams commented of ICP’s” artificial drop price “which, as he clarified, only lasted a few seconds as the trade opened. markets.

“Why did this happen? We’ll never know exactly,” he said, adding that “what is evident is that the internet computer underwent genesis on the last day of a huge bull run. in crypto ”, when the price of Bitcoin (BTC) almost reached $ 60,000.

Unfortunately, as Williams pointed out, the very next day market sentiment changed, Bitcoin fell to around $ 30,000 over the next 9 days and “the sudden change in sentiment had a disproportionate effect on ICP because this is a new token “.

According to him, “a more mysterious factor is that before Genesis, the ICP price on the FTX futures exchange suddenly increased by several hundred dollars, which helped set the initial bullish prices in the markets after Genesis.”

“Certainly, some shadow players will then have made a fortune by bypassing ICP, which upsets me enormously”, he concluded, affirming that neither the DFINITY Foundation nor he had carried out all-in shooting.

He pointed out that “the DFINITY Foundation did not sell any ICPs during the first five weeks after Genesis, and only to cover the tax obligations created by the acquisition of RTUs paid to staff (Restricted Token Units)”.

“The founders and leaders were completely locked up for the first week. For my part, I have sold significantly less than 5% of my holdings since Genesis – after working day and night on the project for years, ”he added.

Fierce growth

PKI’s program to integrate directly with the Bitcoin blockchain, as well as promising network statistics, including 500 developers who now rely on the network and more than 250,000 daily active users of dapps, open internet services , DeFi, pan-industry platforms, and Internet Computer-built websites have boosted investor appetite.

The network recently passed 200 million blocks generated and, according to the project dashboard, “block heights have increased an average of 33% week-to-week since Genesis launched on May 10” .

“When Internet Computer underwent Genesis four months ago, its new form of advanced smart contracts (called ‘canisters’) was supported from the start. Our raison d’être is to help developers create exciting new things on the blockchain, and as a result, we are seeing fierce growth. All kinds of new dapps are appearing now that would be impossible to create on any other blockchain.

So far, 65 grantees have received development grants from the Dfinity Foundation’s $ 1 billion grants program.

ICP’s market cap recently passed $ 9.5 billion and the token is currently trading around $ 57.

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