The Internet Computer (ICP) token has risen for the third consecutive day, reaching an intraday high of $12. This surge in price is likely due to the data showing an increase in the burn cycle for the token, with the burn rate jumping by over 8,800% on an annual basis. This indicates that the network is performing well and that the number of ICP tokens in circulation is not expanding rapidly. Additionally, the number of smart contracts in the Internet Computer protocol has reached a record high. However, the growth of the ecosystem has stalled recently, with only 11 decentralized finance apps on the network. Despite this, the ICP token has broken through key resistance levels and is expected to continue rising, potentially reaching $15.58 in the near future.



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