Internet Computer rallied 17% to $3.70 as trading volume nearly tripled ahead of the Mission70 white paper release, which proposes cutting new token issuance by 70% in 2026.
Internet Computer posted a 17% gain over 24 hours, climbing to $3.70 as trading volume nearly tripled compared to the previous day.
The token’s daily trading volume reached $186.21 million, up 190% from the prior session, according to data from CoinGecko. ICP ICP $3.52 24h volatility: 11.0% Market cap: $1.92 B Vol. 24h: $217.32 M touched a seven-day high of $3.71 after trading as low as $3.09 earlier in the week. The project, developed by the Swiss nonprofit Dfinity Foundation, currently holds a $2.02 billion market cap.
ICP price 1H | Source: TradingView
Upcoming Tokenomics Announcement
The price movement comes ahead of an anticipated ecosystem announcement. Dfinity founder Dominic Williams confirmed on Jan. 12 that a white paper detailing the Mission70 initiative would be published on Jan. 14. The proposal aims to reduce the rate at which new ICP tokens enter circulation by 70% during 2026.
#Mission70 paper is on its way as promised 🙂
Once that's shipped tomorrow, I'm going to announce an already imminent date for Internet Identity 2.0! Generally speaking, 2026 is going to involve a lot of big announcements, and a lot of impactful new things, so buckle up 💪 https://t.co/YLEgcjc0BB
— dom williams.icp ∞ (@dominic_w) January 12, 2026
Technical analysts also pointed to chart patterns as a contributing factor. Analyst @brain2jene observed that the token’s five-day chart displayed a reversal pattern that erased approximately 20 days of prior losses.
$ICP is sending a clear signal that momentum is building on the 5D chart, combined with a bullish engulfing candle that erased the previous 20 days' losses.#ICP is technically strong, and once liquidity kicks in, I think many will be left behind.
More details and targets in… pic.twitter.com/bA3cQvLIfe
— Brain2jene💫 (@brain2jene) January 12, 2026
On-chain data tracker @icterminal noted that the weekly burn rate, which measures tokens permanently removed from supply, reached 18,728 ICP. This marked the second-highest weekly burn figure since September 2024.
$ICP WEEKLY BURN HITS 18,728.5 — SECOND HIGHEST WEEKLY BURN SINCE SEP 2024
🔥 Majority consensus was correct (52.2% voted >10k)
Go to 👉 https://t.co/WEEgwj4nR8 for weekly burn chart https://t.co/LQwOoLtoGu
— icterminal.com (@icterminal) January 12, 2026
Broader Market Conditions
Market-wide data from Coinglass showed $176.55 million in forced position closures over 24 hours, with bearish bets accounting for $104.61 million of that total.
Liquidation Heatmap | Source: Coinglass
The Fear & Greed Index registered 26, indicating fear, down one point from the previous day. The broader crypto market added 1.41% to its total market capitalization, which reached $3.25 trillion. As previously reported by Coinspeaker, the index has remained in fearful territory for an extended period following late December volatility.
ICP falls within the AI and infrastructure categories on CoinGecko. The Dfinity Foundation previously expanded its AI capabilities with the November 2025 launch of its Caffeine application.
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