Foreign media have noted that Internet Computer's on-chain transaction volume has risen significantly in recent months, but this increase has not yet propelled ICP's price out of its long-term weakness. The article points out that ICP continues to trade around $2.50, still far below its previous cycle highs.
Processed approximately 7.57 billion transactions over the past 180 days.
The article states that over the past 180 days, the Internet Computer has processed approximately 75.7 billion transactions total, with daily transaction volume rising from an initial range of 300 to 350 million to nearly 750 million to 800 million in May. Even after peaking, daily activity has remained above previous levels.
On-chain data suggests that network usage is not a short-term spike but has remained consistently high. The article also notes that most major networks operate below this level, making Internet Computer’s throughput performance particularly noteworthy.
The price remains within a long-term downtrend channel.
However, on-chain activity has not been reflected in the price. The article notes that ICP has been trading within a clear downtrend since early 2024, consistently making lower highs and lower lows. The recent rebound to around $2.50 has not altered this structure.
According to the article, ICP remains near the lower boundary of the channel, indicating that buying pressure is still providing support, but not strong enough to reverse the trend. As long as the price does not effectively break above the upper boundary of the channel, the overall trend remains weak.
Trading improved, but sustained capital inflows remain insufficient.
The article also notes that the OBV indicator, which measures trading volume momentum, shows signs of stabilization, suggesting that selling pressure may be easing. However, cumulative distribution indicators are still declining, indicating that large-scale accumulation by long-term funds is not yet evident.
This means that the growth in network transactions is more reflective of increased usage activity rather than sustained capital inflows. The article therefore suggests that the market is currently more focused on the price structure itself, rather than mere on-chain milestones.
The market is watching whether it can hold above $3.
The article suggests that ICP must sustainably hold above $3 and break through the long-term downtrend channel for a more significant price recovery to occur. Conversely, if support between $2.20 and $2.30 is breached, the market may retest lower support levels.
Overall, the core judgment of this review is that Internet Computer’s fundamental data is improving, but on-chain growth alone is insufficient to propel ICP out of its long-term bearish structure without sustained capital inflows.