Internet Computer (ICP) has skyrocketed over 14% in the past 24 hours. This surge comes as the project unveils key developments and experiences a rise in network activity.

ICP Price Explodes, Network Activity Booms

ICP’s price reached $19.2, its highest level in two years. This represents a staggering 500% increase from its all-time low just six months ago.

The network surpassed 3 billion blocks processed, indicating robust transaction handling and high activity. Daily trading volume surged by 126% in the previous session, reflecting growing investor interest and confidence in the project.

ICP’s Innovation Fuels Investor Enthusiasm

The launch of ckBTC, a Bitcoin-mirroring digital asset on the network, has garnered attention. ckBTC has already secured over $12 million in locked value, showcasing its potential.

The integration of AI technologies has captured investor imagination. Internet Computer unveiled the world’s first blockchain-based AI smart contract, positioning itself at the forefront of web3 innovation. This allows developers to build AI-powered applications on the platform.

Analyst Bullish on ICP’s Future

Pseudonymous trader Noodles predicts a “parabolic phase” for digital assets, with ICP leading the charge. He foresees a potential surge towards $115, representing a 579% increase from current levels.

ICP/USD Technical Analysis: Bullish Signals with Overbought Concerns

ICP’s price breakout above $17 suggests bullish momentum. A sustained uptrend could push it towards $50 in the future. However, the RSI indicator exceeding 69 suggests the market might be entering overbought territory, potentially leading to a short-term correction.

The MACD indicator remains bullish with both lines above the neutral threshold, supporting continued upward movement.