Dfinity Foundation's internet computer (ICP) token went live on the U.S.-based crypto exchange Coinbase Pro on Monday, trading as high as $700 at one point before sinking to about $342, according to CoinGecko.
The latest price, as of 17:57 coordinated universal time (1:57 p.m. ET) was roughly on par with the $345 level implied earlier in the day on the FTX exchange's derivatives contract linked to the ICP token.
- According to Messari, some 469,213,710 of the tokens have been created.
- On that basis, and based on a price of $342, the fully diluted market capitalization would be $160.5 billion.
- But according to a Messari report earlier Monday, only about 26% of the token supply is actually circulating.
- Based on that level, the circulating market cap would be about $41.7 billion – making ICP the seventh-biggest cryptocurrency, just behind the $55 billion for cardano (ADA) but ahead of the $36 billion for polkadot (DOT).
- FTX rolled out ICP perpetuals on May 6, a day after Coinbase announced the planned ICP listing.
- Dfinity's smart contract platform runs at internet speed, according to Dfinity, and can run all applications from the open web and blockchains like Ethereum and Binance Smart Chain.