According to reports from AMBCrypto, Internet Computer [ICP] emerged as the weakest performer among the top six tokens in the crypto AI sector over the past week. The token declined 5.35% in 24 hours and 8.7% in a week, significantly underperforming the sector's overall decline. The crypto AI sector's total market capitalization decreased from $22.61 billion on May 9th to $21.01 billion, though it maintained a 21% gain over the past month.
As reported by AMBCrypto, ICP's recent rejection from just above the $4 level aligned with a higher timeframe bearish swing structure. Since reaching a high of $4.09, the AI crypto token has declined by 30.8% and has fallen back into the local range between $2 and $2.84. The $2.8 region has acted as both support and resistance since December 2025, with a potential price bounce from this level possible, though such a recovery might be short-lived due to profit-taking activity from holders.
According to AMBCrypto's analysis, the 365-day MVRV ratio has shown a concerning pattern since October 2025, where whenever this metric climbs into positive territory, sharp corrections follow. This pattern occurred in November, January, March, and May, indicating that ICP tokens that moved at least once within the past year were returning to profits after the steady downtrend. This profit-taking activity by holders has consistently resulted in steep price corrections, suggesting the altcoin is likely to test the $2.2-$2.3 lows later this month if this pattern continues.
As reported by AMBCrypto, the recent losses could be attributed to Coinbase's delisting of ICP/USDT, a non-USD pair, though the exchange has not halted all ICP-related services. The crypto AI sector's decline was accompanied by mixed performance across the top six tokens, with ICP showing the most significant weakness during this period. Additionally, broader market pressures include surging Treasury yields and a fresh inflation print that pushed the 10-year note to 4.54%, its highest level since May 2025.
