Internet Computer (ICP) Surges 17% as Trading Volume Triples Ahead of Major Tokenomics Update

2026-01-13 22:38:53

Source: CryptoNewsNet Original Title: Internet Computer (ICP) Surges 17% as Trading Volume Triples Ahead of Major Tokenomics Update Original Link:

Price Surge and Trading Activity

Internet Computer posted a 17% gain over 24 hours, climbing to $3.70 as trading volume nearly tripled compared to the previous day. The token’s daily trading volume reached $186.21 million, up 190% from the prior session. ICP touched a seven-day high of $3.71 after trading as low as $3.09 earlier in the week. The project, developed by the Swiss nonprofit Dfinity Foundation, currently holds a $2.02 billion market cap.

Key Metrics

Weekly token burn reached 18,728 ICP, marking the second-highest rate since September as deflationary pressures mounted.
Trading volume surged 190% to $186.21 million while the broader crypto market added modest gains amid fearful sentiment.
Technical reversal patterns emerged on five-day charts, erasing approximately three weeks of prior downward movement.

Upcoming Tokenomics Announcement

The price movement comes ahead of an anticipated ecosystem announcement. Dfinity founder Dominic Williams confirmed that a white paper detailing the Mission70 initiative would be published on January 14. The proposal aims to reduce the rate at which new ICP tokens enter circulation by 70% during 2026.

Technical analysts pointed to chart patterns as a contributing factor. Analysts observed that the token’s five-day chart displayed a reversal pattern that erased approximately 20 days of prior losses, with bullish engulfing candles signaling momentum building.

On-chain data indicated that the weekly burn rate, which measures tokens permanently removed from supply, reached 18,728 ICP—the second-highest weekly burn figure since September 2024.

Broader Market Conditions

Market-wide data showed $176.55 million in forced position closures over 24 hours, with bearish bets accounting for $104.61 million of that total. The Fear & Greed Index registered 26, indicating fear. The broader crypto market added 1.41% to its total market capitalization, which reached $3.25 trillion.

ICP falls within the AI and infrastructure categories. The Dfinity Foundation previously expanded its AI capabilities with the launch of its Caffeine application.

ICP12,06%

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