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Internet Computer (ICP) Rally

ICP gained 35.20% over a week, rising from $3.09 to a high of $4.71 before stabilizing at $4.25.
24-hour trading volume reached $797 million, up 150% from the previous day.
A recent 17% rally occurred ahead of the Mission 70 white paper release.

ICP/USDT 1-hour chart showing the rally from $3.20 to $4.70 between Jan. 13-15. RSI reached overbought territory above 70. | Source: TradingView

Mission 70 White Paper

Dfinity founder Dominic Williams released the Mission 70 white paper on January 13.
The paper proposes reducing ICP inflation by at least 70% by 2026, cutting token creation from 9.72% to 5.42% annually.
Increased platform usage is expected to reduce supply further by burning more tokens.

Williams responded to Ethereum co-founder Vitalik Buterin, emphasizing Internet Computer as a realization of Web3 infrastructure ready for mass market adoption in 2026.

Market Context

ICP overtook NEAR in AI and big data tokens by market cap, achieving over 40% year-to-date growth.
The Fear & Greed Index rose to 61, indicating a shift from fear to greed.
Total crypto market capitalization increased by 0.56% to $3.35 trillion.
Coinglass data showed derivatives liquidations at $456.68 million, down 38% from the previous day.
ICP ranks 56th by market cap at $2.31 billion, listed on exchanges like Binance and Coinbase.

24-hour liquidation heatmap showing $185.91 million in BTC and $92.28 million in ETH forced closures. Red indicates long positions liquidated. | Source: Coinglass