January 5, 2022:
The Internet Computer (ICP) is on a high. The smart contract platform DFINITY Foundation is up 22.7 percent in the last 24 hours and is trading at at the time of writing $36.02.
The rally is primarily driven by speculation, and there have recently been no fundamental changes that would justify double-digit price gains. Only the “Canisters Count”, i.e. the number of dApps and Smart Contracts on ICP, has increased slightly since the beginning of the year.
ICP keeps seeing short-term rallies that turn into bubbles. Most recently, the price rose to almost 80 US dollars in early September – but fell by around half by the end of the month.