For the most savvy investors, the search for the next 100X token is never-ending. However, if a large portion of your assets are exposed to certain risks, the need becomes even greater. In this case, Binance investors have missed out on opportunities amid endless regulatory battles across various jurisdictions, forcing many investors to diversify their holdings among other projects.
Among the promising projects undergoing this diversification is Lunex Network (LNEX), an Ethereum-based DeFi token aimed at redefining the ease of trading in the decentralized exchange (DEX) market. there is. Is this the best DeFi protocol for the Ethereum (ETH) network? Let’s find out.
Lunex Network gains attention with innovative multi-chain DEX platform
Lunex Network (LNEX) is making waves as it nears the end of its second pre-sale phase, having raised approximately $675,000 in cumulative funding despite a native $LNEX selling price of just $0.0013. did. But that’s not the highlight. The DeFi protocol has gained a lot of attention as its multi-chain DEX facilitates the instant exchange and transfer of over 50,000 crypto assets across multiple chains at a fraction of the cost.
Lunex Network, on the other hand, prioritizes privacy by eliminating the need for KYC and third-party wallets, with a community-first approach. Although this guarantees complete anonymity, Lunex Network also ensures complete transparency and processes all orders via smart contracts instead of traditional AMMs.
Another highlight of the project is its unique revenue-sharing model, where Lunex Network buys back $LNEX tokens from the open market and distributes a portion of them as incentives to token holders. Additionally, the platform offers institutional services such as a B2B merchant payment gateway that allows businesses to incorporate cryptocurrency payments. These features have attracted the attention of many people, including Binance investors.
Binance Token’s Month-long Price Consolidation Points to Possible Breakout Amid Regulatory Issues
Since early March, Binance (BNB) price has been trading within the $500-$600 price range, limited to consolidation phases. BNB price managed to break through the $600 price mark in June and reach the ATH $720, but has since returned to the consolidation zone.
On the other hand, such an extended period of price declines usually indicates that a sharp rise in prices is imminent. Interestingly, analytical indicators for Binance tokens, including 20-day, 50-day, 100-day, and 200-day directional indicators, indicate purchase potential and market analyst bias against potential price occurrences. This is further substantiated.
However, while the Binance Network continues to navigate its way through regulatory woes, token holders are treading cautiously given the potential risks associated with such events. As a result, many people are diversifying their holdings into promising alternatives like Lunex as a precautionary measure.
Ethereum price falls below $2,400, but could it retest the $3,000 level in Q4?
The Ethereum (ETH) network has recently been heavily criticized for its progressive decline. Just recently, the price of ETH fell below $2,400 after a prolonged attempt to break out of the $2,700 resistance zone.
Currently, ETH price is trading within a monthly range of $2,353 to $2,388, reflecting a slight price increase of just over 1%. However, ETH’s price trajectory is generally bearish given that it faced a notable decline from its monthly peak price of $2,719 before settling below the $2,400 price mark.
Meanwhile, looking at the Ethereum token directional index on TradingView, the 20-day, 50-day, 100-day, and 200-day moving averages reflect bearish momentum, with ETH price falling further and reaching $2,300 soon. This suggests that the price may fall below the mark.
Can Lunex Network mirror Binance Network?
While Binance has established itself as a mainstay in the crypto market, it has also had to overcome severe regulatory constraints. While this concern has become even stronger recently, emerging and innovative DeFi protocols like Lunex Network have an opportunity to gain significant traction. Additionally, Lunex Network’s focus on rapid multi-chain cryptocurrency swapping and organic integration allows for exponential growth.
Learn more about Lunex Network (LNEX) here.
Website: https://lunexnetwork.com
Social: https://linktr.ee/lunexnetwork
