Bitcoin News Update: ICP Ecosystem Fuels AI Crypto Leadership Despite Industry Challenges

The

Protocol (ICP) has overtaken TAO to become the top AI-centric cryptocurrency, with its value soaring by 22.15% in the past day to $9.49 and its market cap reaching $5.11 billion, as per . This impressive climb has led some to liken it to classic infrastructure investments, with experts calling a "market for infrastructure on sale" thanks to its swift ecosystem expansion and strong on-chain statistics. The token’s rise is attributed to robust technicals, growing ecosystem use, and strategic moves such as the introduction of Caffeine AI, a decentralized AI platform, according to .

On-chain figures for ICP highlight its upward trend, with the total value locked (TVL) in the Internet Computer network hitting $28.03 million—a 24.91% jump in just one day, based on data from

. Stablecoin usage and application fees have also reached their highest levels this year, indicating increased user activity, as reported by . Alongside a 32.9% increase in trading volume to $1.7 billion, these trends point to rising trust in the platform’s capabilities and potential for scaling, according to .

Technical analysis further supports the bullish outlook. Breaking through the $7.40 resistance sparked a wave of buying, with the MACD crossover and an increasing histogram suggesting ongoing momentum, as highlighted by

. Experts believe ICP could challenge $10.52 by mid-November, and if current volume and demand persist, it may aim for $12.18 in the longer term, according to . This positive sentiment stands in contrast to the wider crypto sector, which slipped 3.5% amid uncertainty over U.S. government shutdown talks and weak ETF inflows, as detailed by .

While

and experienced slight recoveries, ICP’s trajectory was notably different. The total crypto market cap briefly reached $3.57 trillion as Bitcoin climbed 4% to $106,160, but ICP initially spiked before pulling back 9.31% to $7.06, reflecting short-term profit-taking, according to . Despite this volatility, ICP’s 211.94% weekly increase has made it a leader in the AI crypto space, outshining competitors like C3.ai, which is considering a sale amid executive changes and financial setbacks, as mentioned by and .

The broader AI crypto sector continues to face challenges, with the COAI Index dropping sharply due to regulatory uncertainty and C3.ai’s instability, as noted by

. However, ICP’s growth, driven by its ecosystem—evidenced by increasing TVL and stablecoin integration—sets it apart. “ICP is demonstrating itself as infrastructure on sale,” one analyst remarked, highlighting its value as a scalable and decentralized AI platform, according to .

As these changes unfold, ICP’s ability to hold above the $8.00 support level will be crucial. Staying above this mark could solidify its position as the top AI-focused crypto, while falling below may lead to a retest of $5.94. For now, the token’s rally signals a shift in investor focus toward projects with real on-chain growth and expanding ecosystems.

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