ICP recorded a net reduction in supply on August 28 after daily minting fell sharply while token burns remained elevated, according to figures published by ICPulse.
The network recorded 2,546 ICP minted and 4,165 ICP burned during the 24-hour period, resulting in a net supply change of minus 1,619 ICP.
The figures mark the first deflationary day since August 20, following a week in which minting had averaged around 21,000 ICP a day. At 2,546 ICP, the latest minting figure was roughly 12 per cent of that recent daily pace.
The decline in minting does not necessarily reflect a decision or change made on August 28. According to the data provider, disbursements are set in motion seven days before they reach the ledger. This means the lower minting figure recorded on August 28 was largely determined around August 21.
That timing is relevant when assessing short-term changes in ICP supply, as activity recorded on a particular day can reflect decisions and processes initiated several days earlier.
Burning, meanwhile, moved in the opposite direction. A total of 4,165 ICP was burned on August 28, higher than the previous day’s figure and enough to outweigh the day’s minting.
The result was a net reduction of 1,619 ICP in supply for the day.
The figures come after seven consecutive days during which around 148,000 ICP was minted, according to ICPulse. The data provider said its tracking had found no direct exchange contact on the first hop during that period.
The reference to exchange contact relates to the movement of newly minted ICP and is part of ICPulse’s effort to track where newly issued tokens go after they enter circulation. The absence of direct exchange contact on the first hop does not by itself establish where the tokens ultimately ended up or how they were used.
Daily supply figures can also change considerably depending on minting and burning activity, making a single deflationary day insufficient to establish a longer-term supply trend.
The August 28 figures therefore offer a snapshot rather than a definitive indication of what will happen to ICP’s supply in the coming days. The seven-day timing associated with disbursements also means future minting figures may reflect activity initiated earlier in the period.
ICPulse said it will continue publishing daily supply figures directly from the ledger and tracking subsequent movements of newly minted ICP.
For users following ICP’s monetary dynamics, the coming days may provide a clearer picture of whether the sharp fall in minting is temporary or marks a sustained change from the higher issuance levels recorded during the previous week.
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