Solana News Update: ICP Surges Above $2.92 While Investors Look for a Bullish Break Above $3.00
- ICP token rebounded above $2.92 this week, reversing mid-week losses with 1.04% gains to $2.94 by Friday. - Trading volume surged 20% above seven-day average, reflecting renewed institutional interest in high-throughput blockchain networks. - Coelacanth Energy partnered with ICP Securities for automated trading, highlighting expanding institutional adoption of ICP-based liquidity solutions. - Technical analysts note $3.00 as critical resistance level, with sustained breakouts potentially reigniting bulli
The
This rebound was marked by a notable increase in trading activity, with volume jumping 20% above the weekly average and peaking at 1.39 million units around 10:00 GMT. The surge in volume reflects a broader positive sentiment in the market, as layer-1 blockchains have attracted renewed investor attention since October’s volatility. ICP’s strong fundamentals—such as its leading transaction speed of 1,032 transactions per second, surpassing Solana’s 912 TPS, according to an
Still, the recovery has faced obstacles. Earlier in the week, ICP dropped to $2.9891 after failing to break past the $3.15 resistance, with increased selling pressure driving the price back toward the lower end of its range, as detailed in a
The token’s recent performance has also caught the eye of institutional players. Toronto-based Coelacanth Energy Inc. recently partnered with ICP Securities Inc. to utilize the ICP Premium™ algorithm for automated market-making, according to a
Wider trends in blockchain technology provide further context for ICP’s recent price action. The token’s recovery comes amid rising institutional interest in blockchain assets, as seen with Western Union’s launch of a stablecoin on Solana and the approval of new
Looking forward, traders are watching key price points for signs of a breakout. If ICP can maintain a move above $3.00, it could not only recover the week’s losses but also spark renewed bullish activity. On the other hand, falling below $2.89 might trigger another wave of selling, highlighting how short-term volatility continues to shape ICP’s market direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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