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.
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