Internet Computer (ICP) has overtaken native Bitcoin (BTC) in total deposits on decentralised Bitcoin finance platform Liquidium, marking a change in the platform’s collateral mix as more users choose ICP-backed lending.
Figures shared by Liquidium show that, as of a snapshot taken on 20 July 2026, ICP deposits were valued at US$1,039,202, compared with US$972,155 in native Bitcoin deposits. The platform described the result as a new multi-asset milestone, with ICP becoming its largest deposited asset by value.
Liquidium announced the development on social media, calling it “the real Flippening” and encouraging Bitcoin holders to deposit collateral through its application. The post framed the milestone as evidence of growing activity around ICP within the platform’s lending ecosystem.
The change reflects how users are allocating assets for borrowing rather than the broader market value of either cryptocurrency. Bitcoin remains the world’s largest cryptocurrency by market capitalisation, while Liquidium’s figures represent collateral deposited specifically within its protocol.
Liquidium allows users to deposit supported digital assets as collateral to access loans without selling their holdings. Originally built around Bitcoin-based assets, the platform has expanded its support for Internet Computer, giving users additional ways to participate in decentralised lending.
The latest figures suggest that ICP adoption on Liquidium has gathered pace in recent months. The protocol has introduced several updates aimed at broadening its multi-asset offering, including support for liquid staking and additional vault strategies across the Internet Computer ecosystem.
Market participants say the shift may reflect users seeking to put idle ICP to work while retaining exposure to the asset. Others point to growing developer activity on Internet Computer and wider integration between Bitcoin and ICP through Chain Fusion technology, which has expanded the range of applications available to holders.
Even so, analysts caution that deposit rankings on decentralised finance platforms can change quickly. Asset prices, borrowing demand, lending incentives and user behaviour all influence deposit balances, meaning leadership can shift as market conditions evolve.
For Internet Computer supporters, the milestone offers another indicator of increasing activity within the ecosystem. Whether ICP maintains its lead on Liquidium will depend on future deposits, withdrawals and the platform’s continued expansion of lending opportunities across supported assets.
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