Internet Computer’s token ICP is hovering just above a critical support point at $2, a level that traders see as make-or-break after the coin lost nearly 99.5% of its peak value. Crypto analyst Crypto Patel highlights that falling below this threshold could prompt a sharper drop, with $1 and even $0.50 eyed as further support zones if bears gain control.
While the price struggles to maintain footing, the network’s activity paints a different picture. Daily transactions surged to a record 132.9 million, marking the highest traffic of the month. This surge reflects growing adoption of decentralized applications, AI services, and Web3 infrastructure built on the DFINITY Foundation’s protocol. To put that volume in perspective, it matches roughly every person in New York City conducting about 16 transactions each, emphasizing solid usage despite price volatility.
The network’s capacity to handle such scale reinforces its position as a serverless blockchain infrastructure ideal for hosting applications requiring constant uptime and high scalability. However, the next price movement hinges on whether buyers can defend the $2 support amid rising user engagement.
ICP traded at $2.04 with a 4% drop over 24 hours as market watchers brace for the token’s next move.
