ICP Soars 3.25% on Record Network Activity and Tokenomics Revamp

Internet Computer (ICP) has seen a 3.25% surge over the last 7 hours, driven by improved tokenomics and strong network activity.

The proposal by DFINITY founder Dominic Williams to cut annual ICP issuance by roughly 70%, reducing future sell pressure and increasing scarcity for stakers and long-term holders, supports sustained buying.

ICP's record-breaking network activity with about 138.9 million transactions processed in 24 hours has contributed to the recent price increase, along with a bullish 200-day moving average configuration.

The sector rotation into DeFi and infrastructure altcoins, including ICP itself which has gained about 8.3% to $3.39, also played a role in the surge.