Internet Computer (ICP) processed 6.5 billion transactions over the 30 days ending May 24, more than double the next closest chain, Solana, which recorded 2.9 billion. Fogo, BNB Chain, and TRON each posted under 500 million in the same period. The numbers underscore how ICP's subnet design — 49 independent subnets running parallel consensus — scales under real load.
Subnet scaling in action
ICP currently handles about 2,891 transactions per second, with 10.4 million transactions logged in the past hour alone. Since its mainnet launch in May 2021, the network has processed 287 billion transactions. The architecture lets each subnet process its own block production, so adding more subnets can increase throughput without bogging down a single chain.
Token price rollercoaster
That transaction volume hasn't exactly translated to steady price action. ICP surged nearly 49% in early May, then shed over 28% from May 9 onward. At press time the token sat at $2.57, down 0.55% on the day. The volatility comes amid broader market choppiness, but the gap between on-chain activity and token performance is getting harder to ignore.
ICP's next scheduled network upgrade, expected within weeks, will add two more subnets. Whether that pushes transaction counts higher — and whether the market cares — remains an open question. The team is also rolling out a simplified developer onboarding flow this quarter, aiming to attract more dApp builders to the platform.
