Timeline of the Decline
May 10, 2021
$700.65
All-Time High - Peak euphoria
May 11, 2021
$400.00
Immediate post-launch selloff begins
May 2021
$50.00
90% crash in first month
Current
$8.00
Post-collapse trading
What Went Wrong
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Insider Token Unlock
Early investors and team members received tokens at cents and dumped on retail buyers who paid $400+. Classic VC extraction.
-
Overhyped Valuation
Launching at $45B FDV made ICP the #4 crypto instantly - but the technology didn't justify the valuation.
-
Centralization Concerns
Despite 'decentralization' claims, Dfinity Foundation controlled most nodes and governance, raising censorship concerns.