Crypto prices have performed well this week, with Bitcoin hovering above the key resistance level at $95,000. They have also been boosted by the stock market, which has continued to rise, with the Dow Jones and S&P 500 rising for two consecutive days. This article examines two cryptocurrencies: one to buy today and one to sell, focusing on Sign (SIGN) and IOTA (IOTA).
Crypto to Buy: IOTA
IOTA is one of the top cryptos to buy this week for two main reasons. Fundamentally, the countdown to the Rebased upgrade is going on. This upgrade, the largest in its history, will take place on Monday, May 5.
The Rebased upgrade will bring several important features to the IOTA network. For investors, there will be a chance to stake the coin and earn between 10% and 15%. Developers will now have access to a layer-1 network capable of handling over 50,000 transactions per second (TPS). Its smart contracts will leverage Move’s technology.
The Rebased upgrade means that IOTA is now set to compete with other popular layer-1 networks, such as Ethereum, Solana, and Polkadot. It will let developers build decentralized applications in industries like DeFi and gaming.
The risk is that IOTA could become another layer-1 chain with superior capabilities but no activity. Some of these ghost chains are Zilliqa and Mina.
IOTA is a top crypto to buy also because it has formed a falling wedge chart pattern on the daily chart. It has even moved above the upper side of this pattern. Therefore, there is a likelihood that the token will have a breakout ahead of the Rebased upgrade.
READ MORE: Here’s Why the IOTA Price May Go Parabolic Soon
Altcoin to Sell: Sign
The price of Sign has gone parabolic in a high-volume environment this week after Binance, the biggest crypto exchange in the industry, listed it. The token surged by over 35% on Tuesday as its volume soared to $1 billion. This is a significant amount for a coin with a market cap exceeding $125 million.
Still, there are two main reasons why one may consider selling the Sign token. First, the Binance listing momentum will eventually fade, and the coin’s trend will stop. Historically, cryptocurrency prices typically drop after the initial surge in listing prices. A recent report showed that 98% of all coins listed by Binance have crashed.
Second, Sign is a highly dilutive coin. It has a maximum supply of 10 billion SIGN tokens and a current circulating supply of 1.2 billion. It will unlock 150 million $SIGN tokens in July, 290 million in October, and another 290 million in January. An additional 410 million SIGN tokens will be unlocked in April. These unlocks will last until 2030, leading to substantial dilution.
Most notably, only 30% of these unlocks will go to the community, with 70% allocated to the team, including the foundation, core team, private investors, and the ecosystem.
READ MORE: Is Shiba Inu Price at Risk as Whales Dump 10 Trillion SHIB Coins?
