Share this article
ICP Loses Key Support as Token Falls 7% in Heavy Institutional Selling
ICP breaks below $5.48 support with volumes nearly doubling, signaling large-scale institutional selling
Aug 18, 2025, 3:48 p.m.
What to know:
- ICP slid 7% from $5.67 to $5.27 between Aug. 17–18, breaching the $5.48 support zone.
- Trading volume surged to 708,905 units, nearly twice the 24-hour average.
- Brief recovery attempts failed as institutional selling pressure dominated.
Internet Computer Protocol (ICP) fell over the last 24 hours, losing 7% of its value.
The token dropped to a low of $5.27, breaking through critical support levels and raising concerns about sustained institutional interest in the project, according to CoinDesk Research's technical analysis data model.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Market data showed ICP falling below the $5.48 support threshold during the early hours of Aug. 18, with trading activity spiking to 708,905 units, nearly double the daily average of 386,248 units. Analysts flagged this pattern as evidence of coordinated selling among large investors and corporate treasury desks. A bounce was short-lived, with the token falling back to $5.29.
The crypto market at large is dealing with bearish pressure following an ignition of concerns over U.S. inflation after last week's Producer Price Index (PPI) reading for July 2025 was hotter than expected.
A downturn in the broader crypto market can increase selling pressure on tokens like ICP due to a general risk-off sentiment, reduced liquidity, and the tendency of investors to sell more speculative assets first.
Technical Analysis
- ICP fell 7% from $5.67 to $5.27 on Aug. 17–18.
- Critical support level at $5.48 was breached during early Aug. 18 trading.
- Volume surged to 708,905 units, almost double the 24-hour average of 386,248 units.
- Recovery attempts failed, with a 1.12% drop from $5.35 to $5.29.
- Current price consolidation near $5.29 reflects waning institutional participation.
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
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Ethereum’s P2P Layer Is Improving Just as Institutional ETH Buys Pick Up
Early PeerDAS performance is proof that the Ethereum Foundation can now ship complex networking improvements at scale.
What to know:
- Ethereum co-founder Vitalik Buterin said that the network is addressing its lack of peer-to-peer networking expertise, highlighting the progress of PeerDAS.
- PeerDAS, a prototype for Data Availability Sampling, is crucial for Ethereum's scalability and decentralization through sharding.
- BitMine Immersion Technologies has significantly increased its Ethereum holdings, viewing it as a strategic investment in the network's future scaling capabilities.
Top Stories
