- ICP jumps 6.7% as it enables secure cross-chain transfer without risky third-party bridges.
- Wrapped BTC, ETH, USDT, and USDC on ICP are backed 1:1 using Chain-Key cryptography.
- ICP offers secure, fast, cheap transactions for DeFi and gaming, avoiding $2B+ in bridge hacks.
Internet Computer Protocol (ICP) has gained 6.7% in the past 24 hours as attention turns toward its approach to cross-chain asset bridging. The blockchain offers wrapped versions of major cryptocurrencies without relying on vulnerable third-party bridge protocols.
According to data analytics firm Santiment, ICP supports wrapped versions of Bitcoin (ckBTC), Ethereum (ckETH), Tether (ckUSDT), and USD Coin (ckUSDC). These “ck” tokens maintain 1:1 backing with their original counterparts while operating natively within the ICP ecosystem. The price performance shows steady growth across multiple timeframes, with ICP up 19.2% over the past month.
Chain-Key Cryptography Eliminates Bridge Risks
Unlike traditional wrapped tokens issued by centralized custodians, ICP’s versions use Chain-Key cryptography to secure assets. This technology creates a built-in, decentralized mechanism for bridging without the vulnerabilities that have plagued traditional bridge protocols.
When users transfer Bitcoin to ICP, the original BTC gets locked in a secure address on the Bitcoin blockchain. An equal amount of ckBTC is then issued on the Internet Computer. This ensures the asset remains cryptographically backed and redeemable at any time.
This approach contrasts sharply with third-party bridges that have lost over $2 billion in hacks since 2021. By avoiding external bridge protocols, ICP removes the single points of failure that have made cross-chain transfers risky for users.
Ultra-Fast Transactions with Minimal Fees
Bridged assets on ICP offer practical benefits that could drive wider adoption. Transactions complete in under one second and cost fractions of a cent. This makes them suitable for microtransactions, real-time DeFi applications, and gaming use cases.
These performance metrics contrast with Bitcoin’s 10-minute confirmation times and Ethereum’s higher gas fees, which can make small transactions economically unfeasible. The wrapped tokens integrate easily with ICP’s growing decentralized application ecosystem. Users can participate in DeFi protocols, gaming platforms, and other services without needing to exit back to the original blockchain unless desired.
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ICP’s approach addresses a key challenge in multi-chain ecosystems: how to move value between different blockchains safely and efficiently. Traditional solutions have relied on centralized exchanges or risky bridge protocols, both of which introduce counterparty risks.
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