Crypto Market Sees Gains as Trade Talks Spark Optimism
Last week, the cryptocurrency market surged after President Trump mentioned ongoing trade talks. Bitcoin soared past $95,000, and solana’s meme coins reached a $10 billion market cap.Here’s why Pi Network, Ripple, and Sui are key players this week.
Sui’s Notable Performance and Upcoming Challenges
Sui,a leading layer-1 network,has been a standout performer.Its price hit $3.8, up 110% from its recent low. The rise was fueled by strong performance in its ecosystem,with weekly DEX volume increasing by 60%.The network processed over $3.43 billion in the last seven days, totaling $11 billion in monthly transactions. Though, a $120 million token unlock on Thursday could disrupt this rally. Token unlocks often cause dilution, potentially impacting SUI’s price. The Relative strength Index at 77 suggests it’s overbought, hinting at a possible retreat to $2.8150. The Sui ecosystem’s protocols handled over $3.43 billion in volume. Yet, the token unlock might slow its momentum. Investors should watch for a potential pullback.
XRP at a Critical Point
Ripple’s XRP is at $2.17, a notable level. It’s near the 50-day Exponential Moving Average and the descending trendline. A breakout above these levels could shift the bearish outlook.
Pi Network’s Quiet Strength
Pi Network remains at $0.6350, showing no signs of joining last week’s crypto rally. This could be a prelude to a significant move.An exchange listing, especially by a top-tier platform like HTX, could be the catalyst. HTX has hinted at listing Pi Network soon.
Other Cryptocurrencies to Watch
- Cetus Protocol, Maverick Protocol, Optimism, Pendle, and Morpho face token unlocks.
- BSC is set to launch the Lorentz upgrade.
