ICP surged 8.1% to $2.34 on August 10, marking its strongest daily trading volume since July, as the token broke above the Ichimoku cloud with improving volume pressure. Caffeine AI could create recurring ICP demand by converting customer payments into cycles that burn ICP as applications use network resources. The Internet Computer network has burned approximately 2.85 million ICP against 63.96 million ICP minted through voting maturity, leaving a significant issuance gap. The proposed Mission 70 reforms aim to reduce issuance and increase network-driven burns, but these mechanisms have not yet demonstrated sustained net deflation. ICP now needs to hold the $2.17-$2.20 region, with $2.40 and $2.60 as the next resistance levels.
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