Whale Moves and New Wallets Point to Fresh Interest in Internet Computer

The Internet Computer (ICP) network is showing a surge in new addresses, hinting at a wave of new investors entering the market. On-chain data from @icterminal shows that the number of fresh wallets is climbing, while holdings among so-called “Humpback whales” — the largest investors — are also on the rise.

Much of this large-wallet activity appears to come from custodial exchange addresses, suggesting that increased buying may be happening through centralised platforms. That’s led to growing speculation that new participants are accumulating ICP as prices continue to strengthen after recent rallies.

At the same time, about 700 wallets holding more than 10 ICP — roughly 0.65% of all meaningful addresses — were removed overnight. Analysts suggest that this could indicate some long-term holders transferring funds to exchanges for liquidity or profit-taking.

The mixed data paints a dynamic picture: while whales and new investors appear active, a segment of existing holders seems to be repositioning. Market watchers say such shifts are common when momentum builds, as traders rebalance between self-custody and exchange accounts in response to price moves.