The number of active addresses on the ICP blockchain is surging, reaching new heights in October.
Record Activity on ICP Blockchain
The number of active addresses on the ICP blockchain surpassed 1.5 million, marking a significant milestone compared to 900,000 active addresses at the start of October. This growth is accompanied by increased market confidence and investor interest.
Analysis of Large and Small ICP Holders
Analysis indicates smaller whales (10k-100k ICP) reached a supply peak of 406,300,000 ICP, while large whales (+100k ICP) peaked at 844,000,000 ICP. By early 2025, smaller whales decreased their holdings to 399,000,000 ICP, while large whales slightly reduced their assets to 824,725,487 ICP. This suggests large whales retain stability in their holdings, indicating confidence in ICP’s long-term value. Smaller whales show more volatility, reacting to market conditions.
ICP Price Dynamics and Predictions
The ICP/USDT pair was in a downward trend after resistance near the $20.96 level, forming a ceiling the asset struggled to breach. The support zone around $8.50 was frequently tested, suggesting a potential floor where buyers step in. In late January 2025, technical analysis suggested a possible reversal, as the current pattern mirrors past behavior, with the price trading at $9.20, reflecting an 8.77% rise. If ICP can stay above the $7.00 resistance-turned-support level, an uptrend towards $10.00 is plausible.
The growth in user activity and large holders maintaining their positions bolster confidence in the future of ICP, though market conditions may dictate outcomes.
