The Internet Computer (ICP) is the native utility token of a decentralized cloud-based blockchain network that aims to host applications, websites, and backend systems entirely on-chain. Built as a Layer 1 smart contract platform, it extends beyond the Ethereum ecosystem through multi-chain interoperability and has a presence across Base and other networks. Its architecture emphasizes security, resilience, and the ability to run software without reliance on traditional centralized cloud providers. A distinguishing direction for the network is the concept of a "self-writing cloud," in which artificial intelligence tools let users generate applications through natural-language prompts. Platforms such as caffeine.ai and online development environments like icp.ninja allow developers and non-developers alike to experiment with AI-assisted app creation or write serverless code directly. The ICP token operates on a burn-and-mint economic model, meaning it is consumed to pay for computation and storage on the network. Holders can also stake ICP to participate in governance, helping to direct the evolution of the protocol. The project is backed by several prominent venture firms, and it sits within broader Layer 1 and governance-focused crypto index categories.
Spot volumes softened to a nine-month low in May while RWA perpetual futures printed a fresh all-time high, a split that says more about where the bid is rotating than the index's muted daily move.
Only three of the 20 constituents traded higher on the session, with Stellar (XLM) doing the heavy lifting and ICP, SUI leading the laggards.
CoinGecko's 09:00 UTC snapshot on 13 Jun shows a two-in, two-out boundary swap at the bottom of the top 100, with BDX…
Every one of the 20 constituents traded lower, with majors like BTC and BNB leading the losses and ICP and NEAR lagging sharply — a clean risk-off tape across the basket.
BCH is the lone gainer on the broad crypto index as the selloff drags every other constituent lower, with NEAR and ICP leading the laggards.
XLM's 8.4% drop does the heaviest lifting on a broadly red day, with AAVE down 3.9% and only NEAR and ICP managing gains.
The CoinDesk 20 fell to 1975.1 with only three of twenty constituents green, leaving Bittensor and Internet Computer as the session's clear laggards.
Six large-cap tokens have already walked through their full investor unlocks — Optimism is the next notable name to cross the line, with its final investor tranche due May 31, 2026.
The CoinDesk 20 traded at 2035.72 with 12 of 20 assets green, as Internet Computer's near-10% surge pulled well ahead of every other constituent.
A 19% surge in a single index constituent while the broader CoinDesk 20 barely moves is the cleanest signal of rotational, not broad-based, risk-on.
The CoinDesk 20 sits at 2062.9 with five of twenty assets green — the day's tape is split, not collapsing, with NEAR and TAO leading the leaders board.
One gainer out of twenty — and it's BNB, up just 0.4% — captures the day: even the leader couldn't offset SUI's 6.8% drop and ICP's 5.9% slide.
Seventeen of twenty constituents traded up in the session, with NEAR and ICP setting the pace while BNB and CRO dragged the index's overall gain to a flat 0.1%.
Thirteen of twenty constituents still trade higher, with ICP (+9.7%) and DOT (+1.7%) leading — a broad-market session where laggards, not leaders, set the index tone.
Every one of the index's 20 constituents traded green, with NEAR and ICP running double-digits while BTC and ETH lagged the basket by a wide margin.
The Internet Computer is a decentralized cloud blockchain designed to run applications, websites, and backend systems fully on-chain.
Internet Computer (ICP) is categorised as: Artificial Intelligence (AI), Infrastructure, Smart Contract Platform.
The official Internet Computer site is https://internetcomputer.org/.
Most recent Internet Computer coverage: "CoinDesk 20 Index Rises 0.5% as AAVE Jumps 5.9% to Lead" — read at /en-US/a/coindesk-20-index-rises-05-as-aave-jumps-59-to-lead.
CoinDesk
Crypto Rank News
