Why Internet Computer’s (ICP) 100% Rally Might Just Be Getting Started
The Internet Computer protocol’s native token, ICP, has appreciated by roughly 100% up to now week. The coin has outperformed the broader market, which has dipped 4.3% in the identical timeframe.
The rally seems to be fueled by core sentiment shifts, clear indicators of on-chain accumulation, and a renewed urge for food for altcoins that provide actual utility, suggesting that ICP’s upward momentum should have room to run.
ICP Token’s Rally May Not Be Over Yet: Here’s Why
BeInCrypto Markets information confirmed that ICP’s rally comes even because the broader market has continued to battle. The token has surged this month, reaching an 8-month high on November 4.
Over the previous day, the altcoin has risen by 17.6%. At the time of writing, ICP traded at $6.02.
Investor sentiment towards ICP has been largely optimistic, with CoinGecko information exhibiting that round 86% of merchants maintain a bullish view. Supported by sturdy sentiment together with on-chain and technical indicators, these components recommend that ICP’s upward development could proceed if present market circumstances persist.
1. Fundamentals and Utility Driving Renewed Interest
ICP’s breakout comes amid a broader market recalibration. In late 2025, traders seem like refocusing on initiatives with strong fundamentals, shifting away from speculative, narrative-driven traits.
This is reflected in the recent rallies of privacy-focused belongings akin to Zcash (ZEC) and Dash (DASH). This development indicators a renewed deal with long-term worth moderately than short-term momentum.
“ICP is lastly getting into the section everybody doubted it might ever attain…It’s the one blockchain that may run end-to-end web companies totally on-chain…The setup looks like early 2017 for ETH. Undervalued tech, misunderstood by most, quietly being amassed by good cash. When the subsequent wave comes, ICP received’t simply run. It’ll remind everybody what actual tech seems like,” an analyst famous.
On-chain information additional highlights the community’s established utility. The Internet Computer blockchain has processed over 262 billion transactions since its Token Generation Event (TGE), surpassing Solana’s 94.1 billion and Hedera’s 71.1 billion. This positions ICP because the main blockchain by whole transactions since inception.
2. On-Chain Accumulation and Exchange Balance
Data from Nansen point out a notable change in ICP’s supply dynamics. Over the previous month, change reserves have dropped by 31.4%. At the identical time, the highest 100 pockets addresses have elevated their holdings by about 30%.
This development usually signifies much less promoting stress and elevated confidence amongst giant holders. Moving tokens from exchanges usually entails long-term positioning, versus short-term buying and selling.
3. Technical Signals
Lastly, market analysts are turning to technical charts that recommend ICP could continue its rally. Some have even drawn parallels to Zcash, noting that ICP might rise in a way just like ZEC.
Furthermore, different market watchers foresee ICP reaching a valuation of $10, a degree final seen in January 2025.
“Current indicators recommend that the actual bullish motion is but to come back. The construction is bettering, volumes are growing, and the value is beginning to regain key ranges: parts that point out that that is not only a technical rebound, however a significant pump,” a dealer added.
What is obvious is that ICP’s rally is predicated on greater than market pleasure. Drops in change balances, elevated top-address holdings, and worth efficiency all point out sturdy demand.
Whether this results in a sustained rally or solely a short-term spike is dependent upon ICP’s capacity to keep up investor curiosity and the broader market sentiment.
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