Cryptocurrency is extremely volatile following unaddressed 25% tariffs that President Donald Trump has repeated with a 25% tariff on imports.
Bitcoin (BTC) fell below $83,000 on Tuesday, March 4th, when tariffs came into effect. By Thursday, certain tariffs had been suspended or delayed, with Bitcoin bouncing above $90,000.
On Sunday, it once again fell below $83,000, down 11.8% over the past seven days. Meanwhile, Ethereum (ETH) is above $2,000, down 18.2% over the same time frame.
Heading into the new week, crypto.news chose to shine a spotlight on three Altcoins, Arbitrum (ARB), FLARE (FLR), and PI Network (PI).
Arbitrum
Arbitrum has been on a strong downward trend for about two years. In 2023, it peaked at $2.4253, becoming the second largest layer 2 blockchain in the industry.
It eventually fell to a record low of $0.312.
Why did it crash? Arbitrum is a very tenuous cryptocurrency. There is a circulating supply of 4.41 billion against the total supply of 10 billion coins. We will release 479,068 new tokens every day, unlocking 93.2 million people this week. These unlocks continue until April 2027.
Arbitrum Token has been on a sharp downward trend in the past few days, falling below key support at $0.4310. It is below the 50-day moving average, but the relative strength index drifts downwards.
Therefore, the token may continue to fall first after unlocking the token. If this occurs, the next ARB price level you'll watch will be $0.25.
Arbitrum was developed by Offchain Labs, a New York-based company founded by Steven Goldfeder, Ed Felten and Harry Kalodner.
Flare
Flare is another top-level cryptocurrency, as it unlocks tokens worth $28.16 million and unlocks circulating 2.90%. It has already unlocked about 68% of all tokens in the circulation.
The Flare Token retreated from $0.03840 to $0.01575 from its December 3rd high. This is the lowest level since November 15th.
It is below the 50-day moving average. On the positive side, two lines formed a falling wedge pattern, which was about to converge. So the flare price could bounce back, and we'll probably retest the 50-day moving average at $0.0220.
Flare was developed by the Flare Network, founded by Hugo Philion, Shawn Rowan and Francis Coliordan. The blockchain is intended to enable smart contracts and interoperability with non-smart contract networks such as Bitcoin and XRP.
Tokens play multiple roles within an ecosystem that includes governance that allows users to vote for network proposals and participate in Flare Time Series Oracle, a decentralized Oracle system that allows users to earn rewards.
Additionally, FLRs can be used as collateral within Decentralized Finance (DEFI) applications and to pay transaction fees on the network.
PI Network
The Pi Network, a popular tap-to-earn token, crashed over the past few days, reaching its lowest level of $1.3960 since February 2023. This decline has occurred as PI unlocks more than 1.4 billion tokens this year.
The Pi Coin price fell below major support at $1.5337, the neckline for the head and shoulder pattern. It also forms a small, bearish pennant pattern, slightly below the weighted moving average of the 50th period.
The technology suggests that the value of the PI will continue to decline as sellers target psychological points for $1.00.
Another top-of-the-line cryptocurrencies to watch this week are Aptos, Perpetual Protocol, and Apecoin, which unlocks millions of tokens. Mainstream coins such as Bitcoin, Ethereum and XRP will also be focused again this week as traders monitor price action after staying in the tight range for a few weeks.
On the positive side, potential lists from top exchanges such as Binance and Coinbase could provide some mitigation.
The PI Network was created by Stanford alumni, Dr. Nicholas Coccaris, and fans of Dr. Chendiao, and originally Vincent McPhilippe.
