Fresh data from icterminal shows a clear shift in where Internet Computer (ICP) is sitting across major exchanges. Coinbase’s ICP balance has been climbing again after a period in which the platform had effectively run out of tokens. The chart indicates a steady return of supply on the exchange, suggesting traders or custodial users have been moving more ICP back into Coinbase accounts.
Binance, on the other hand, is showing a mild decrease in its ICP balance. The drop is not sharp, but it marks a contrast with the upward movement on Coinbase. Changes in exchange balances often prompt debate among analysts, since they can reflect anything from traders preparing to sell, to users withdrawing into self-custody, or simply shifting funds between platforms.
The data does not give direct insight into motives, yet the chart highlights how liquidity is redistributing across two of the largest trading venues for ICP. Coinbase’s rising count may indicate returning supply after earlier shortages, while Binance’s numbers suggest holders have been moving tokens away from the platform over recent weeks.
Whether this pattern continues will depend on wider market conditions, staking behaviour and sentiment around upcoming ecosystem developments. For now, the latest figures offer a snapshot of how ICP is circulating through exchanges at a time when interest in the asset remains active.
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