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Dfinity's ICP Token Price Implied at $345 Ahead of Coinbase Listing

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Dfinity Foundation’s internet computer (ICP) governance token is set to debut on the U.S.-based crypto exchange Coinbase on Monday at 9 a.m. Pacific Time (12 pm ET or 16:00 coordinated universal time).

Price discovery in the derivatives market suggests the first trade will be executed at a price of at least $300.

  • ICP’s perpetual contract listed on the FTX exchange, used to bet on the market price once it goes live, was trading around $345 as of 15:55 coordinated universal time (11:55 ET).
  • According to Messari, some 469,213,710 of the tokens have been created.
  • FTX rolled out ICP perpetuals on May 6 – a day after Coinbase announced the planned ICP listing.
  • Coinbase users can transfer their ICP holdings to the Coinbase Pro account ahead of the listing.
  • “Transfer ICP into your Coinbase Pro account ahead of trading,” the exchange’s official announcement dated May 5 said. “After sufficient supply of ICPis established on the platform, trading on ICP-USD, ICP-BTC, ICP-EUR, ICP-GBP & ICP-USDT order books will launch in three phases, post-only, limit-only, and full trading.”
  • 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.

Also read: How Dfinity Could Give Ethereum Another Layer of Censorship Resistance

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