ICP Token Slides 5.2% as Bearish Momentum Persists Despite Active Trading and Developer Growth

ICPUSDT experienced a 5.20% decline in the last 24 hours, currently trading at $2.991 on Binance. The recent price drop can be attributed to continued bearish sentiment driven by technical indicators showing ICP in a downtrend, with the asset trading below key exponential moving averages and resistance levels remaining unbroken. Despite a brief recovery attempt and increased accumulation by both major and minor holders, as well as ongoing developer activity in the ecosystem, elevated selling pressure and underperformance relative to the broader market contributed to the decline. The 24-hour trading volume remained substantial, with ICP market capitalization estimated between $1.68 billion and $1.77 billion and circulating supply near 543.67 million coins, reflecting continued volatility and active trading interest.