Amid projections of a bullish October, the crypto market saw heavy selling pressure over the past 24 hours, with many altcoins falling below their key support levels. Ethereum (ETH), which has been under intense selling pressure from whales, has fallen below the $2,500 mark and Solana (SOL) is struggling at key support zones.
However, Lunex Network is a new DeFi crypto exchange and is poised to dominate the market. The new exchange, which will offer cross-chain asset transfers without KYC, is seen as a direct competitor to established exchanges. Now on presale, analysts project massive project 40x rallies in the fourth quarter. Let’s see below what triggered such predictions.
Lunex Network’s Non-Custodial DeFi Crypto Exchange Attracts Investors
With asset security issues topping the list of problems faced in DeFi, Lunex Network is developing the next-generation Web3 DeFi crypto exchange that addresses many of the issues found in centralized exchanges. With the Lunex Network non-custodial wallet, users will be able to buy, sell and trade crypto from a single app.
Notably, there is no need for KYC checks or login wallets such as Trust Wallet. The Lunex network was designed to facilitate cryptocurrency trading and cross-chain asset exchange, solving problems with slow transactions or high gas fees. Notably, Lunex Network also offers a portfolio tractor, which allows users to track multiple assets such as cryptos, stocks, bonds, etc.
One of the attractive features is the staking model, designed to allow users to stake their tokens and win up to 18% in APY rewards. Apart from this, the ecosystem allows multi-currency staking. This means users can stake cryptos such as Ethereum and Solana and earn rewards. To foster community engagement, the platform also introduces a profit sharing model to reward LNEX holders.
These and many more add to the potential of this token. After selling out the first presale stage in 72 hours, Lunex Network is now in the second presale stage, with the LNEX token being sold for just $0.0013. With its high growth potential, notable analysts argue that the token reaches 40x before the end of the year. As such, now is the best time to accumulate the token.
Ethereum Price Analysis – Further Drop from Analyst Project
The popular altcoin Ethereum could slide further into the bear market with the negative Ethereum news in recent days. According to Lookonchainon-chain market tracker, Ethereum ICO participant sold another 19,000 ETH ($47.54 million) in the last 2 days. This adds to the growing number of whales abandoning the altcoin in recent weeks.
To go further, the performance of the Ethereum ETF in recent days has been worrying, with a negative result net entry by -14,675 (—$36.07) as investor confidence in the Ethereum coin declines. CoinMarketCap the data shows that Ethereum Price fell below the $2,500 support zone and could fall further soon.
The whole Ethereum Market Sentiment is reflected in technical analysis. According to statistics from Commercial viewEthereum is trading below the 50-day EMA, with key market indicators showing negative signs. Crypto analyst The Moon believes Ethereum could fall further to $2,150 if current support is lost. As such, investors are turning to the trending Lunex Network project.
Solana DEX Volume Increases as SOL Token Declines
According to data from DeFiLIamatrading volumes on Solanas DEXs have continued to increase even as markets struggle with the downtrend. Over the past few days, volumes have increased to around $1.5 billion, at one point surpassing that of Ethereum, while Solana Network is known for its cheap fees and faster transaction processing, the token continued to struggle.
CoinMarketCap the data shows that Solana’s price fell below the key $140 support zone. More worrying is the Solana trading volume which has seen a steady decline in recent days. A closer look at technical analysis shows that moving averages (MA) represent a sell signal with an RSI at 47, displaying selling momentum.
However, even though Solana market sentiment is bearish, Coincodex remain optimistic with Solana Price Prediction of $156.54 in the short term. For Solana to achieve this, it will need to maintain support at $140. But with the current outlook, holders are exploring other promising projects like the LNEX token.
Which crypto to buy during the crisis?
Solana and Ethereum look promising in the long term. However, given bearish market sentiment, short-term returns may not be guaranteed. However, with Lunex Network, there is a high chance of achieving a substantial return on investment in the short term before listing.
You can find more information about the Lunex Network (LNEX) here:
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