ICP (InternetComputer) rises 20.1% in 24 hours to $2.981: On-chain mid-level holders accumulate as bullish sentiment resonates within the community

Volatility Overview

In the past 24 hours, ICP's price rebounded from a low of $2.482 to a high of $2.981, with the current quote at $2.981, marking an amplitude of 20.1%. The 24-hour trading volume is approximately $248 million, and overall perpetual contract funding rates are negative (Binance -0.0099%, OKX -0.0046%, Bybit -0.0132%), indicating that spot buying is dominant.

Brief Analysis of Anomalies

• On-chain data monitoring shows a surge in the number of medium holders ("Octopus" wallets holding 100-500 ICP) to over 28,700, indicating ongoing accumulation by this group.

• Community voting on X platform shows that 81% of users are bullish on ICP, and some traders have observed a backlog of long orders near support levels.

No official announcements or major news events were reported in the past 24 hours.

Market Perspectives and Outlook

The prevailing community sentiment is optimistic, and the accumulation by medium holders is regarded as a "conviction signal," suggesting potentially bigger moves ahead. At the same time, analysis on May 5 pointed out that ICP network utilization remains far below capacity, raising concerns about demand. Analysts predict the rebound may continue in the short term but caution that overall market correction risks remain.