Top Cryptocurrencies to Watch This Week: Ethereum, Pi Network, and Solayer
By Crispus Nyaga | May 11, 2025, at 2:30 PM UTC | Edited by Anthony Patrick
The cryptocurrency market is poised for significant activity this week, driven by several key economic developments and an engaging major event. As trade discussions between the United States and China continue and new consumer inflation data is expected to emerge, investors are keenly observing the market’s response. Highlighting the week’s trading landscape are three cryptocurrencies: Ethereum (ETH), Pi Network (PI), and Solayer (LAYER).
Ethereum (ETH)
Ethereum has been making headlines following the successful implementation of the Pectra upgrade, which introduced 11 significant improvement proposals. These enhancements touch on vital areas such as account abstraction, validator balances, and blob throughput, among others. As a result, Ethereum experienced a price surge last week, now moving into this week on a more optimistic note.
Analysts are observing whether Ethereum’s bullish rally will persist. The cryptocurrency recently cleared a key resistance mark at $2,132, which signifies potential further gains. Should the upward momentum continue, many Ethereum-based tokens, including Pepe (PEPE), Shiba Inu (SHIB), and Uniswap (UNI), could also benefit. However, caution is warranted, as the chart suggests the possibility of a retracement back to $2,132 before another upward move, a phenomenon commonly referred to as a "break-and-retest" in trading.
Pi Network (PI)
The Pi Network has garnered attention due to its recent price momentum, which saw it soar to $1.0670, marking a 158% increase from its April lows. This growth aligns with speculation surrounding an upcoming major announcement at the Consensus event in Toronto. The core team of Pi Network is expected to reveal significant news, possibly including the launch of listings on major crypto exchanges, strategic partnerships, or revisions to their tokenomics that could further enhance their ecosystem.
Given the increased buzz, traders are contemplating the potential for the Pi Coin price to surge further, with targets suggesting it could reach up to $1.8, the peak observed on March 13th this year.
Solayer (LAYER)
In contrast, Solayer has struggled to keep pace with the recent bullish trend in the crypto space, with its price dropping sharply from a peak of $3.35 to a low of $1.2. This decline is reported to be linked to forced liquidations and sales by insiders, echoing similar challenges faced by projects like Mantra.
This week, Solayer’s performance will be under scrutiny as the network prepares to conduct a significant token unlock, releasing $32 million worth of tokens into circulation, with $21 million allocated to the community. Historically, such unlocks can introduce downward pressure on a token’s price as new coins flood the market. The upcoming unlock is part of a broader strategy for Solayer, which holds a circulating supply of 210 million LAYER tokens against a total supply of 1 billion.
Conclusion
As these three cryptocurrencies carve out their narratives amidst a shifting market environment, investors and traders will need to stay attentive to both macroeconomic factors and specific developments within these digital assets. Over the next week, the outcomes of various announcements and market reactions will heavily influence their trajectories, keeping the crypto community engaged and informed.
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