3 days ago
Internet Computer Protocol (ICP) saw a volatile 24 hours, climbing from $5.84 to a league precocious of $6.08 earlier succumbing to selling pressure.
The 5% plaything unfolded wrong a $0.28 trading corridor, reflecting some beardown buying involvement and swift profit-taking, according to CoinDesk Research's method investigation information model.
Early momentum carried ICP done aggregate absorption points, with the rally peaking astatine $6.08 astir 03:00 UTC connected August 14. Elevated measurement astatine these highs confirmed organization selling activity, establishing a wide absorption portion betwixt $6.06 and $6.08. On the downside, enactment developed successful the $5.87–$5.90 range, wherever buyers consistently stepped successful to sorb supply.
ICP’s volatility subsequently compressed sharply. The token traded successful a constrictive $0.04 set betwixt $5.88 and $5.92 from 09:25 to 10:24 UTC, indicating a consolidation signifier arsenic traders reassessed positions.
Market sentiment had been shaken by a high-profile information incidental astatine Bitcoin-based memecoin level Odin.fun, which suspended trading aft losing 58.2 BTC successful a suspected exploit. The breach, which triggered a 40% illness successful ODINDOG’s value, scrutiny implicit Internet Computer’s information framework, peculiarly its “Sign-In With Bitcoin” authentication system.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.
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