ICP Slides 3% But Caffeine Launch Sparks Rebound
Unveiled on July 15, 2025, at the 'Hello, Self-Writing Internet' event in San Francisco, Caffeine empowers users to build decentralized apps using natural language — no code required. The platform's debut marks a significant milestone in Internet Computer's strategy to merge on-chain AI with seamless dapp creation, helping to ignite buying interest late in the day.
Overnight, bears pushed ICP from $5.39 to $5.20 on volume exceeding 850,000 contracts at 03:00 UTC, according to CoinDesk Research's analysis.
However, the landscape shifted after 14:30 UTC on Tuesday. ICP dropped to $5.27 but then reversed higher on a series of institutional-sized volume spikes. This flurry of activity lifted the token back to $5.34, narrowing the day's losses and reinforcing buyer presence around the $5.27-$5.28 support band.
Fundamental progress further bolstered sentiment. The DFINITY Foundation has burned over 1 million tokens to tighten supply, while its new vetKeys privacy protocol addresses critical concerns in blockchain data security.
With AI now live on-chain via Caffeine and technical buyers stepping in near key support, ICP appears poised to test resistance at $5.40 once again, backed by ecosystem momentum and strategic upgrades.
ICP fell 3.47% in 24 hours, with a $0.30 intraday spread from $5.50 to $5.2115.
Caffeine's launch introduced AI-powered dapp creation, driving bullish sentiment.
Bears pushed price lower early; $5.20 support held firm on heavy overnight volume.
A rebound lifted ICP from $5.27 to $5.34 after a wave of accumulation.
Notable volume surges: 14:52 (41,106), 15:03 (44,658), 15:29 (17,658).
Resistance remains at $5.40–$5.42, where rallies repeatedly paused.
Support re-established at $5.20–$5.28 following recovery.
Current price: $5.4324, holding above intraday lows and showing upward bias.
Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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