The crypto market crashed last Friday, leading to over $19 billion in liquidations. Bitcoin plunged to $108,000, while the market capitalization of all tokens dropped by over $500 billion to $3.7 trillion. This article highlights some of the top cryptocurrencies to watch this week, including Pi Network (PI), Sei (SEI), Cronos (CRO), and Zebec Network (ZBCN).
Pi Network (PI)
Pi Network is one of the top cryptocurrencies to watch this week as its sell-off gains steam. Like other coins, Pi plunged to a low of $0.1580, down by over 90% from its all-time high. Its plunge has led to an $18 billion wipeout as the market cap has dropped below $3 billion.
Pi Network will be in the spotlight as investors focus on the recent crash and the upcoming token unlocks. Data shows that over 17 million tokens will be unlocked this week, boosting its circulating supply.
The coin will also be in the spotlight as traders react to the recent launch of decentralized exchanges (DEX), automated market makers, and liquidity pools on the mainnet.
READ MORE: Will the Crypto Market Go Back Up Soon?
Sei (SEI)
Sei token crashed to a low of $0.1810 on Friday, down by over 55% from its highest point this year. This crash happened despite the ongoing institutional adoption of the network. It happened because of the recent crypto market crash.
Sei token will be in the spotlight this week as the network will unlock 121 million tokens, which are equivalent to 1.21% of the supply. It has now unlocked about 57% of the total supply.
The daily timeframe chart shows that the Sei price plunged to a low of $0.1723, down from the year-to-date high of $0.3891. It moved below the important support at $0.2651, the lower side of the descending triangle pattern.
Sei price has formed a bullish engulfing pattern, which is a common reversal sign. Therefore, the token will likely rebound, retest the resistance at $0.2651, and then resume the downtrend. This pattern is known as a break-and-retest pattern.
Zebec Network (ZBCN)
Zebec Network price plunged to a low of $0.0027 on Friday because of the crypto crash. It then bounced back to the current $0.0040 as the crypto rebound happened.
ZBCN price will be in the spotlight as the network unlocks over 1 billion tokens worth over $4.2 million, which are equivalent to 1.04% of the supply. It has now unlocked over 87.9% of the total supply.
Zebec Network price has remained below the 50-day and 100-day Exponential Moving Averages. It has also formed a bearish flag pattern, suggesting a potential bearish breakout in the near term.
The other top tokens with large unlocks this week are Solayer, OpenEden, ApeCoin, Cronos, Caldera, and Chainbase. Cronos price will be in focus as it unlocks over 1 billion tokens.
