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 rising, with the Dow Jones and S&P 500 rising for two days. This article looks at one crypto to buy today, and another one to sell, by looking at 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, which will be 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 a layer-1 network with 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 it was listed by Binance, the biggest crypto exchange in the industry. 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 ultimately fade and the coin will stop trending. Historically, crypto prices typically drop after the initial listing surge. A recent report showed that 98% of all coins that Binance has listed 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 go on until 2030, leading to substantial dilutions.
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.
