Q1 is almost over. For now, $ICP Money metrics look better compared to Q4 25:

Revenue + 28.8% 📈

Expenses -17.8% 📉

Earnings + 18.8%📈

ICP

2.228

-0.17%

Overall, ICP is still recording losses. Anyway, in terms of losses, this has been the best quarter since Genesis.

However, the ratio is still low:

Q1 Burn = 230,200

Node Rewards = 2,539,296

Voting Rewards (Disbursed = real Inflation) = 2,260,699

Q1 Mint = 4,799,995

Ratio = 20.85 X

% = 4.79%

This means that ICP has covered 4.79% of the Expenses with the Token Burn. This figure is better that SOL and ETH (Both Sub 2%) but it is still very weak.

Therefore, with M70, The Ratio needs to decrease and the % needs to substantially increase.