On January 15, news reports indicate that Internet Computer (ICP) has become one of the most prominent assets in the cryptocurrency market this week. While the price surged significantly, on-chain data shows a noticeable decline in exchange supply, sparking market attention on potential breakout trends.
Data shows that ICP once rose approximately 34% in a single day during the Asian trading session on Thursday, reaching a high of $4.78, then retreated and stabilized above $4.6. From a weekly perspective, ICP has gained about 45% over the past 7 days, with an overall increase of nearly 80% since 2026, performing notably among mid-cap tokens.
One of the core factors driving this rally is the latest white paper titled “Mission 70” released by the DFINITY Foundation. The plan proposes a series of supply-side reforms aimed at reducing network inflation by at least 70% by the end of this year. Approximately 44% of the inflation reduction will come from adjustments to voting rewards and node incentives, while the remaining 26% depends on increased network activity, including the introduction of AI-driven on-chain cloud engines and autonomous proxy applications. The market generally believes that this approach will help improve ICP’s long-term token economic model.
Meanwhile, on-chain fund flows also signal a bullish bias. According to Nansen data, over the past 24 hours, the ICP balance held on exchanges has decreased by more than 60%. Such large-scale outflows are often interpreted as investors transferring tokens into self-custody wallets or for long-term staking, thereby reducing short-term selling pressure and creating conditions for price appreciation.
From a technical perspective, the weekly chart shows that ICP is forming a classic bullish flag pattern. This pattern typically appears during consolidation after a strong rally, and a volume breakout often indicates trend continuation. The key resistance zone to watch is around $7.5. If this level is effectively broken, there is a possibility that the price could further test the $10 psychological level.
In terms of momentum indicators, multiple technical signals remain bullish, including an upward trend indicator and a MACD bullish crossover. Considering the fundamental improvements, declining exchange supply, and technical formations, Internet Computer is currently at a critical stage worth close attention.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ethereum Spot Volume Surges 72%, Traders Eye $2,600 Liquidity Gap
Abstract: Ethereum's perpetual futures show robust buying pressure, with 24h net taker volume at $5.5B and the highest 30-day average since July 2022. ETH tests $2,400 and eyes a liquidity zone at $2,475–$2,634 as EMAs rise; CVD sits around $12.6B with neutral funding, suggesting a near-term liquidity target in that range.
ETH perpetual futures show strong buying with $5.5B 24h net taker volume and a 30-day high; ETH tests $2,400, aiming for $2,475–$2,634 liquidity zone as EMAs rise; CVD ~ $12.6B, funding neutral.
GateNews57m ago
Gold and Silver Slip Slightly, Oil Rises; Bitcoin and Ethereum Volatility Indices Decline
Gate News message, April 23 — Gold prices fell to $4,731.95 per ounce with a daily decline of 0.18%, while silver dropped to $77.585 per ounce, down 0.13% intraday. Bitcoin volatility index (BVIX) stood at 43.64, declining 1.80%, and Ethereum volatility index (EVIX) reached 63.90, down 5.19%.
In
GateNews3h ago
Gate Daily Report (April 23): The U.S. government runs Bitcoin nodes; Tesla’s BTC holdings remain unchanged
Bitcoin (BTC) continues the rebound trend from the beginning of the week, trading at around $78,230 as of April 23. U.S. Pacific Command Commander Samuel Paparo said in a congressional hearing that the U.S. government operates Bitcoin nodes to conduct cybersecurity tests, but does not participate in mining. Tesla’s first-quarter Bitcoin holdings remain unchanged, and its digital-asset impairment loss is $173 million.
MarketWhisper4h ago
Probably Nothing” — But TOTAL2 Structure Points Higher, and These 5 Altcoins Could Lead the Rally
TOTAL2 continues to respect a long-term trendline, signaling underlying altcoin market strength.
Market sentiment remains muted, often a precursor to larger price expansions.
Select altcoins show strong fundamentals despite limited short-term price movement.
The wider altcoin market
CryptoNewsLand4h ago
Trump Confirms Iran Ceasefire Negotiations Have “No Timeline,” Bitcoin Reexamines $78k
On April 23, Bitcoin reclaimed above $78,000. On April 22, U.S. President Donald Trump, during an interview with Fox News reporter Martha MacCallum, confirmed that the U.S.-Iran ceasefire negotiations do not have a set timeline, and denied a report that the U.S. media outlet Axios cited the same day, which referred to a "3 to 5 day window period" attributed to U.S. officials.
MarketWhisper4h ago
Crypto Fear & Greed Index Rises to 46, Market Remains in Panic State
Crypto Fear & Greed Index rose to 46, maintaining a 'panic' state; up from 32 yesterday, which also indicated panic.
GateNews5h ago
