Long-term ICP holder supply drops 6% over the year

The amount of Internet Computer (ICP) tokens held by long-term addresses has slipped over the past year, highlighting a shift in how holders are managing their positions.

As of September, wallets inactive for more than 185 days collectively hold about 338.5 million ICP. That compares with around 360 million at the same point last year, marking a 6 per cent decline.

The reduction points to a portion of dormant supply being trimmed, suggesting some longer-term holders have either taken profits or reallocated their assets during the past twelve months. While ICP’s price action and broader crypto market conditions play a role in such movements, analysts often view changes in long-term supply as a window into confidence levels and sentiment among committed holders.

The figures add another layer to the ongoing discussion about ICP’s place in the digital asset market, where its backers continue to emphasise its blockchain technology and potential use cases. For traders and investors, the drop in long-term holder supply raises questions about whether the trend reflects normal rotation or a change in conviction.