Top cryptocurrencies to watch this week: Pi Network, XRP, Sui
Cryptocurrency prices rallied last week as U.S. President Donald Trump said, without citing examples, that trade talks with other countries were taking place.
Bitcoin btc-1.59%Bitcoin jumped above $95,000 for the first time in over a month, while the market cap of all Solana (SOL) meme coins jumped to over $10 billion. This article explains why Pi Network pi-4.7%Pi Network, Ripple xrp2.75%XRP, and Sui sui-1.24%Sui are the top cryptocurrencies to watch this week.
Sui token unlock could disrupt the rally
Sui, a top layer-1 network, was one of the top-performing coins in the crypto industry as it jumped to $3.8, its highest level since Feb. 1, and up by 110% from its lowest level this month.
It rallied as top meme coins in its ecosystem surged, resulting in a 60% increase in weekly DEX volume. Protocols in its platform handled over $3.43 billion in volume in the last 7 days, bringing the monthly transactions to over $11 billion.
Sui’s surge may be disrupted by a big token unlock scheduled for Thursday. The network will release tokens worth $120 million. Token unlocks lead to dilution, often affecting a coin’s performance.
The daily chart also shows that the SUI price has become overbought as the Relative Strength Index has moved to 77. Therefore, the coin is likely to retreat and retest the key support at $2.8150, the neckline of the double-bottom pattern at $2.
