Internet Computer: Correction risk rises after ICP price gains nearly 60% in 5 days

Internet Computer: Correction risk rises after ICP price gains nearly 60% in 5 days


Internet Computer (ICP) has entered 2022 with a bang.

The ICP price rose by over 56% in the first five days of the new year, reaching a 30-day high of $38 on Jan. 5. Its massive upside move accompanied a spike in trading volumes, underscoring a strong and healthy bullish sentiment for now.

ICP/USD daily price chart. Source: TradingView

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At the center of ICP’s recent price rally was a flurry of optimistic news.

That includes Binance’s decision this Tuesday to list a financial instrument that would enable traders to directly swap ICP to/from Ethereum’s native token Ether (ETH) and the launch of Terabethia, a cross-blockchain bridge, on Dec. 22 that enables Ethereum’s ERC-20 tokens to exist natively on the Internet Computer blockchain.

Additionally, a rally across the smart contract

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