Cryptocurrencies Gear Up for Busy Week Ahead
The final week of August promises to be eventful for several cryptocurrencies as key updates and upgrades are set to roll out. Pi Network is changing its pricing structure for its Pi App Studio on August 24, making it more expensive for developers to create applications but allowing those with real users and utility to qualify for subsidized pricing.
ARB, the token of Arbitrum, a blockchain network that enables fast and low-cost transactions, will expand into tokenized stocks. This move is expected to attract new users and liquidity to the platform and show how blockchains can be used to bring traditional financial assets on-chain.
The network's RWA narrative is gaining traction, with Arbitrum One climbing to #2 in perpetuals, recording $1.48B in volume and $1.834B in open interest. Michaël van de Poppe, a cryptocurrency analyst, believes that ARB is showing strong signs of a trend reversal, citing bullish divergences on the RSI and MACD.
On August 26, Phantom will end support for Monad, which may create short-term pressure on MON sentiment due to reduced wallet accessibility. However, this move does not affect the underlying Monad network itself.