Internet Computer (ICP) Rebounds 10% Weekly: What’s Happening and What’s Next?

ICP hit a two-month high, but the bears prevented a further move north. The leading cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), experienced substantial volatility over the past week, ultimately posting minor gains. ICP – the utility token of Internet Computer – outperformed all top 10 digital assets within that period, and some believe it could be gearing up for a much more substantial rally. The Next Potential Targets Earlier today (August 11), the asset’s price soared to almost $2.40, the highest level since mid-June. It later retraced to the current $2.28 (per CoinGecko), representing a 10% weekly increase. ICP Price, Source: CoinGecko It remains unclear what exactly caused the resurgence. One possible catalyst could be the fact that Internet Computer is close to reaching the massive target of 300 billion processed transactions. According to the X account BSCN, the number has risen to roughly 298 billion since launch. “To give some context, Solana (a network known for its scalability) has generated a cumulative total of 121 billion transactions – still extremely impressive, but not even close to Internet Computer’s figure,” the entity added. Following the lates...