Bitcoin (BTC) dropped below $83,000 twice last week before rising above $90,000. The cryptocurrency market has been very unstable. At the same time, Ethereum (ETH) has been battling to stay above $2,000, falling 18.2% in the last week. While big coins are still getting a lot of attention, Arbitrum (ARB), Flare (FLR), and Pi Network (PI) have become very important to keep an eye on because of big price changes and future token unlocks.
Arbitrum
All must know that Arbitrum is one of the best Layer 2 scaling solutions for Ethereum. Its price has decreased since 2023, when it reached a high point of $2.4253. Now, it’s worth a lot less than that. Its all-time low price was $0.312. Too much unit dilution is the main cause of this drop.
Arbitrum has 10 billion tokens; every day, 479,068 new tokens are released. This week alone, 93.2 million more tokens will be made available. The price will stay low because these unlocks will last until April 2027. ARB has dropped below a key support level at $0.4310 and is still below the 50-day moving average, which means it will likely go down even more. If people keep selling, $0.25 could be the next big support level.
Flare
Flare (FLR), a blockchain that allows smart contracts to work with networks that don’t use smart contracts, has also been under much pressure. The token fell from a high point in December of $0.03840 to its current low point of $0.01575—its lowest since November 2023.
Pi Network
The controversial cryptocurrency Pi Network, which lets you tap to make money has decreased sharply lately. The token’s price dropped to its lowest point since February 2023, at $1.3960. This happened after news that more than 1.4 billion Pi tokens would be accessible this year.
The technical outlook for Pi stays negative. The token fell below the support level of $1.5337, which was the neckline of a head-and-shoulders shape.
Conclusion
As we start a new trade week, huge token unlocks, and important technical levels in Arbitrum, Flare, and Pi Network will make them very interesting to keep an eye on. Flare could get better in the short run, but Arbitrum and Pi Network may keep having trouble because of the pressure from supply.
