Despite leading in development activity in February, the ICP price did not react much.
According to a recent tweet from CryptoDep, ICP’s development activity stood at 420 in February, while ADA and DOT were at 410 and 397 respectively.
However, everything changed in March as ICP’s development activity declined in the past few days.
In addition, the number of contributors to ICP’s development activity has decreased in the past seven days. While ICP’s development activity declined, ADA and DOT’s activities increased.
High development activity means that developers are putting in more effort to improve the blockchain.
The ICP price has also increased by 5% in the past seven days. At the time of writing, the token is trading at $13.18 with a market capitalization of over $6 billion.
ICP’s Binance Funding Rate is still in the green, meaning that derivative investors are actively buying ICP at lower prices.
According to the Bollinger Bands, the ICP price has entered a tightening range at the time of writing.The Relative Strength Index (RSI) has also recorded a decline, indicating a high likelihood of further price decline.
