#FLARE #PI # APTOS # APTOS #SONIC

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TOP CRYPTO CURRENCIES THIS WEEK

Flare

Flare is a fast-growing layer-1 network whose token is valued at over $1 billion. It will be in the spotlight this week as it unlocks tokens worth over $35 million on Monday.

In addition, its ecosystem is experiencing strong growth, with the total value locked at $188 million, up from $51 million in January. Also, its stablecoin market cap has jumped to $150 million from $5.2 million in May. 

The daily chart shows that the FLR token has pulled back in the past few weeks, moving from a high of $0.02220, to $0.018. It has formed a falling wedge, a popular bullish reversal sign. Therefore, it will likely have a bullish breakout, with the target being at $0.0220.

Aptos 

Aptos, a top layer-1 blockchain network, will be in focus this week as it unlocks tokens worth $53 million, equivalent to 1.8% of its float. Also, the market cap of all stablecoins in the network has jumped to a record high of $1.32 billion.

APT token has been in a strong downtrend in the past few days, forming a descending channel. It has moved below the 50-day Exponential Moving Average, while the MACD and the Relative Strength Index have moved downwards. 

Aptos token will likely remain in this range, and possibly bounce back to the upper side of the range at $6. A drop below the lower side of the channel will point to further downside to $3.5.

Pi Network

The Pi Network token will be watched this week for two reasons. First, the network will continue unlocking over 68 million tokens this week, increasing the number in circulation. 

Second, the token has formed a slanted triple-bottom pattern and a bullish divergence pattern on the eight-hour chart. These patterns are often followed by a bullish breakout, which may happen this week

Sonic Sonic

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1.45%

Sonic price crashed to $0.3775 on Sunday, down by over 61% from its highest point this year. This crash has brought its market capitalization to $1.9 billion, down from $3.15 billion in January.

Sonic token has plunged as its ecosystem continues slowing down. Data shows that the stablecoin market cap has plunged to $446 million, down from $597 million earlier this year. A falling stablecoin supply in a chain signals that activity in the network is fading.