Bubble
Internet Computer ICP
Internet Computer (ICP) was trading at $2.15, ranked #57 by market cap at $1.14B, with 24h volume of $27.53M.
Data snapshot: 2026-08-03 09:00 UTC.
ICP powers the Internet Computer, a project from the DFINITY Foundation that aims to run entire web applications — frontend, backend and data — directly on-chain, replacing traditional cloud hosting rather than just settling transactions. Code and data run as tamper-proof "canisters" replicated across independent nodes, and the network has no fixed supply cap, instead relying on a governance-controlled inflation schedule. Internet Computer runs application code directly on its node machines as canisters — units that hold both code and state and can serve web pages to users without a separate server. That is a much broader ambition than settling transactions, and it requires far heavier hardware than most chains. Fees are paid in cycles that are pegged to a fiat value and burned, so developers pay a stable cost rather than a token-price-dependent one. On a bubble map ICP behaves like a mid-cap Layer 1 whose price has been driven more by general sentiment than by measurable canister usage.
What is a canister?
A unit of code and state running on the Internet Computer. Canisters can serve content directly to browsers, so an application can run end-to-end on the network rather than using it only for settlement.
What is the reverse gas model?
Developers pre-pay for computation in cycles rather than users paying gas per action. That lets applications be free to use at the point of interaction.
What is ICP used for?
It is converted into cycles to pay for computation, is staked in neurons for governance voting, and rewards node providers.
Why does ICP need powerful hardware?
Because nodes run general-purpose application code and serve responses, not just validate transactions. That raises the hardware requirement compared with chains that only settle transfers.
Market cap decides how big a bubble is drawn, so rank is what places ICP on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #26 | Avalanche (AVAX) | $2.80B |
| #32 | NEAR Protocol (NEAR) | $2.48B |
| #57 | Internet Computer (ICP) | $1.14B |
| #65 | Ethereum Classic (ETC) | $1.07B |
| #76 | Pi Network (PI) | $909.33M |