Share this article
ICP Rises 5% as Token Burn, AI-Powered Development Tools Fuel Rally
DFINITY burns 1M tokens while debuting tools that enable app creation using plain English, sparking institutional demand.
Jul 31, 2025, 12:09 p.m.
Make us preferred on Google
What to know:
- ICP rallied 5% to $5.57 with a 7% trading range over 24 hours.
- DFINITY’s Internet Computer 2.0 upgrade introduces no-code, AI-powered app creation.
- Institutional accumulation accelerated as 1M ICP tokens were burned over five months.
Internet Computer Protocol's native token, ICP, advanced 5% to $5.57 over the last 24 hours, bolstered by a blend of strong technical structure and key fundamental upgrades.
The token traded within a $0.36 bandwidth and found aggressive support near $5.21 during the 19:00 hour UTC on July 30, where volume spiked to 1.43 million tokens, more than three times the 24-hour average of 476,829 units, according to CoinDesk's technical analysis data model.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Upward momentum persisted as the price steadily climbed through successive higher lows to form a solid bullish channel, before resistance began to cap gains around $5.58.
DFINITY’s recent launch of Internet Computer 2.0, which includes tools allowing anyone to build applications using natural language prompts, could open Web3 development to non-technical users and help to further differentiate ICP in a crowded layer-1 ecosystem.
DFINITY has burned over 1 million ICP tokens in just five months, reducing overall supply and signaling long-term commitment to value optimization. The twin narratives of AI-enhanced utility and token deflation appear to be gaining traction among institutions seeking exposure to infrastructure-oriented crypto assets.
Technical Analysis
- $5.21 confirmed as key support with 1.53M tokens traded during 19:00 recovery surge.
- $5.58 marked session top and temporary barrier to continuation.
- Ascending lows from $5.21 to $5.50 signal strong bullish construction.
- Institutional accumulation backed by volume spikes well above average.
- 0.18% increase from $5.56 to $5.57 during 09:05–10:04 UTC, validating consolidation at elevated levels.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
Top Stories
