ICP Revenue Hits Record $360k as Onchain Demand Surges
Internet Computer (ICP)
Editor:
Eugene Serbin
bsc.news reports that Internet Computer's monthly onchain revenue reached a new all-time high of $360,000 on October 4, 2026. This milestone was driven by rising demand for cycles, the computational fuel used to execute smart contracts on the network. The protocol recorded a consistent 1.10% daily increase in revenue, indicating sustained growth in resource consumption.
Unlike traditional blockchains, Internet Computer utilizes a reverse gas model where developers pre-pay costs by loading canisters with cycles. ICP tokens are converted into these cycles and burned upon use, creating a deflationary mechanism for the token. The network has seen broad growth, reaching one billion transactions in Q1 2026 and supporting approximately 980,000 deployed canister smart contracts.
There are currently 1.24 million active wallets on the network, signaling robust user engagement. This financial metric adds a new dimension to the network's activity, showing that usage is translating into real economic output. The revenue record reinforces the argument that onchain computation at scale is a viable business model for the protocol.
How the market reacted
Whalio's own Binance spot order flow for ICP, measured when this story was written up on 5 October 2026. Not the outlet's figures.
Whalio spot data for ICP shows a price of $3.37 with a 24-hour buy ratio of 50.0%, indicating balanced trading pressure over the full day. However, the 1-hour buy ratio dropped to 44.1%, suggesting that short-term buying interest is fading compared to the broader daily trend. The 4-hour buy ratio sits at 51.6%, showing that medium-term buyers are still slightly more active than sellers. Volume delta reflects this shift, with a negative $65,397 in the last hour contrasting against a positive $128,856 over the past four hours. The Cumulative Volume Delta for the 24-hour close is +$1,212,453, meaning net buying pressure has been stronger than selling pressure throughout the day. This indicates that while immediate momentum has cooled, the overall flow remains net positive.
The latest daily buy ratio of 49.2% sits at the 50th percentile of the last 322 days, against a median of 49.2% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for ICP, averaged over the days leading up to the story.
Over the preceding week, ICP maintained a buy ratio average of 50.6%, which is slightly higher than the current 24-hour reading of 50.0%. This represents a marginal decline of 0.6 percentage points from the weekly average, suggesting today's buying intensity is roughly in line with recent norms. Spot volume for the 24-hour period was $12,661,087, which is 0.94 times the weekly average, indicating trading activity is slightly below the recent norm. The coin experienced a price change of +6.9% over eight days, with a total volume delta of +$1,437,098 for that period. This data points to an ordinary trading day where price action is supported by steady, albeit slightly subdued, volume relative to the recent weekly trend.