Gmgmgmgm Square Fam!
Welcome to the 68th episode of The
#ICP Pulse Season 3, your daily dose of all things ICP.
In this episode, we discuss Technical Analysis, on-chain Metrics, and ecosystem updates.
But, before we start...
I've put a lot of effort and time into this series, so if you don't mind, please consider liking this episode and supporting me by subscribing.
This will help me provide you with more quality information, thank you🫶
Now, without further ado, Let's get into today's episode🚀
1/
$ICP Price Action
Well, we are still testing this range which I have now marked as a Black Box.
This is a minor support zone, which has held the price action historically.
So, in terms of numbers, these are the ones I am still having my eyes on.
Support: 10.5 -10.7 USD
Major Resistance: 11.6 -12.2 USD
Other Conditions: support from the 100 and 200 EMAs should be noted, as the price action is gradually heading towards the 100 EMA.
Now, have a look at this ICP Futures Open Interest Chart from Coinglass👇
As both the metrics have diverged, we can assume that deleveraging has already occurred and settled as of press time.
In addition, The Futures funding rate at Binance sat at 0.01% indicating bullish sentiment.
Now, we wait 🫡
As always, Not Financial Advice, So DYOR🫡
2/ Onchain Stats
Sources: IC Dashboard and ICTerminal
🟪Internet Identity Count
Very nice.
As of press time, we were able to have an impressive 1.24K users onboarding the internet computer.
🟪Burned ICP Stats
Hmm, a slight increment compared to yesterday looks great.
Within the last 24 hours, that was 7.73K ICP, worth 81.9K USD vanishing from the circulation supply.
In case you are new here, ICP gets burned when developers convert ICP into cycles, which are computational units similar to fuel that powers canister smart contracts.
In addition, community members run Blockchain on Blockchain applications, which also look similar to the dev approach I've described above.
Finally, a portion of gas fees on each transaction on the IC also gets burned.
🟪Neurons Stats
Today, we saw around 329 new neurons being activated in order to prepare for governance.
Also, let me enlighten you on how this works in case you are new here.
So, in the IC, users are required to lock up their ICP tokens in neurons, which are locked ICP baskets that allow participation in governance.
The minimum lockup period is from 6 months to a maximum of 8 years🤯
Once a person locks up their ICP, let's say for 6 months the ICP will be locked until the user decides to dissolve the neuron.
Let's say a user named Alice, locks up 5 ICP on the 1st of January 2025 and sets the dissolve delay to 6 months, then the neuron will be dissolved exactly 6 months after that date which is the 1st of July 2025, which would make the tokens Alice had locked liquid again.
3/ NFT Stats
Sources: toniqMarket, bioniqMarket and yukuapp
1️⃣Motoko Ghosts --> 30 ICP
2️⃣BTC Flower --> 31 ICP
3️⃣ETH Flower --> 6.2 ICP
4️⃣icbucks by EgidoVal--> 1.19 ICP
5️⃣Poked Bots Mutant Army by pokedstudiouk --> 37 ICP
6️⃣ Goated Gamer by The_Swop --> 2K sats ckBTC
7️⃣Motoko Sentinels--> 🔺0.00069 ckBTC
8️⃣Cubetopia Islands --> 9.5 ICP
9️⃣Distrikt PODs --> 2.4 ICP
🔟ICP flower --> 6 ICP
4/ Gainers and Losers
Source: ICPcoins and ICPTokens
🟣Gainers
➡️Elna DeAI --> 0.0415 USD @ 10.4M USD Marketcap (🔺6.8%)
➡️ICPGhost --> 0.000160 USD @ 1.4M USD Marketcap (🔺5.7%)
🟣Losers
➡️ICLighthouse --> 0.112 USD @ 22.6M USD Marketcap (🔻18.9%)
➡️CryptoClouds --> 0.00247 USD @ 987K USD Marketcap (🔻9.8%)
➡️BoB --> 1.32 USD @ 16.8M USD Marketcap (🔻9.8%)
5/ Inside the ICVerse🧑🚀
🟪11 Voting Proposals in the NNS.
🟪1 Voting Proposal in the OpenChat SNS.
🟪TVL on NNS: 2.527 Billion USD [🔻11.2%]
🟪TVL on ICP DeFi By DefiLlama: 49.38M USD [🔻1.84%]
🟪ICTO SNS Swap is live [Ends in 2 days, 12 hours]
ICTO aims to allow the automation of tasks related to tokenomics.
➡️Minimum commitment: 1 ICP
➡️Maximum commitment: 20K ICP
➡️Overall commitment [including Neurons Fund]: 38.4K ICP
➡️Minimum direct commitment to complete the swap: 40K ICP
➡️Total supply: 1B ICTO
➡️Supply allocated to the Swap: 250M ICTO
🟣Participants of the swap will receive 5 equal value neurons, each with a dissolve delay of 0,3,6,9 and 12 months respectively
🟪Canistore SNS Swap is live [Ends in 5 days, 7 hours]
CANI is an ecosystem of dapps and services to revolutionize the creator economy.
➡️Minimum commitment: 1 ICP
➡️Maximum commitment: 20K ICP
➡️Overall commitment [including Neurons Fund]: 8.37K ICP
➡️Minimum direct commitment to complete the swap: 50K ICP
➡️Total supply: 1B CANI
➡️Supply allocated to the Swap: 200M CANI
🟣Participants of the swap will receive 4 equal value neurons, each with a dissolve delay of 0,6,12 and 24 months respectively
🟪 FomoWell SNS Swap is live [Ends in 9 days, 7 hours]
Fomowell aims to be the fair launch platform for Web3 projects on the ICP blockchain.
➡️Minimum commitment: 1 ICP
➡️Maximum commitment: 100K ICP
➡️Overall commitment [including Neurons Fund]: 22.6K ICP
➡️Minimum direct commitment to complete the swap: 20K ICP
➡️Total supply: 1B WELL
➡️Supply allocated to the Swap: 200M WELL
🟣Participants of the swap will receive 3 equal value neurons, each with a dissolve delay of 0,3 and 6 months respectively
NFA SO DYOR 🤝
🟪Updates from the DFINITY Foundation🔮
➡️A short video where the foundation's TracyTrachsler explains how the IC is working to empower governments across the globe has been published.
➡️Dom ships an exciting video on the Self Writing Internet.
➡️The Decentralized Artificial Intelligence technical team of the foundation will be live today at 17:00 UTC in the foundation's discord.
➡️The foundation is working on some changes to the base library for the Motoko Programming Language.
6/ Updates from the ICP ecosystem
➡️junobuild to ship a new upgrade to their UI.
➡️kongswap ships TX history feature to production
➡️RuBaRu shakes hands with Cload
➡️Trax publishes their roadmap for 2025
➡️WaterNeuron publishes known neurons
➡️The Swop ships their latest video with Shaw and Lucid
➡️Seb from Motoko Bootcamp to lead icp_cc as Education Lead.
So, Here I wrap up for the day😇
Hats off for staying this far🫡
Now, before we wind up, feel free to share this with everyone who might lack some ICP Alpha, especially to our
#USJoblessClaimsDrop fam.
I'll see ya tomorrow with your weekly recap on ICP :)
Until then, Take care👋