Solana (SOL) went from $20 to $200 in just about five months. Some crypto traders had expected altcoins not to reach this level in the short term, but this came as a surprise to them. Regardless, traders who were expecting a spike in Solana (SOL) are now feeling optimistic about XRP (XRP) and Lunex Network (LNEX).
This trader believes that XRP (XRP) and the Lunex Network will probably reach new highs before the trading close in 2024. While XRP (XRP) is still trying to emerge from its consolidation phase, the Lunex Network is making waves with its presale, already generating over $870,000 in just a few weeks. This shows how much value investors see in the project.
Lunex Network facilitates cross-chain transactions
Lunex Network is a promising DeFi protocol that aims to connect multiple isolated blockchains. Investors engaging in cross-chain trading will no longer be under pressure to switch platforms to trade across multiple blockchains. Additionally, this allows traders to save money that they would otherwise have had to pay in additional fees.
Lunex Network outperforms other decentralized exchanges such as Ethereum-based Uniswap and BSC-based PancakeSwap by enabling quick swaps between multiple blockchains. These include Ethereum, Binance Smart Chain, Solana, Tron, and more. Apart from this, Lunex Network ensures that transaction fees are kept as low as possible.
This gives the platform a direct advantage over Ethereum-based DEXs like Uniswap, which typically face high gas fees as a result of network congestion. Meanwhile, LNEX, the utility token of Lunex Network, is currently on pre-sale. You may be surprised to find that the price is very low in stage 3 of the presale, at just $0.0015 per token.
Solana blockchain records meme coin growth
According to data from CoinMarketCap, the market capitalization of meme coins is currently over $50 billion. However, the market capitalization of meme coins on the Solana blockchain alone is said to exceed $10 billion. This means that approximately 20% of the valuation of a typical meme coin falls under the Solana ecosystem.
Meanwhile, the recent appreciation of these meme coins has brought the valuation of meme coins in the Solana ecosystem to $10.2 billion. This got many meme coin fans excited, especially those who had invested in meme coins based on Solana (SOL) such as Dogwifat and Bonk, as significant gains continued to roll into their portfolios.
Meme coins have playful and meme-themed origins, but they are gaining momentum as investors and traders consider meme coins a profitable alternative to diversify their portfolios and make quick profits as a result of high volatility. It is growing rapidly.
XRP coin exhibits unique market trends
It is true that the XRP coin has been consolidating for years. Although there have been a few periods where the XRP price has clearly broken out, the overall situation for altcoins has remained mostly solid. Additionally, a cryptocurrency analyst who goes by the name EGRAG CRYPTO believes that XRP (XRP) is exhibiting a unique market trend that could soon cause a rally.
This cryptocurrency expert’s analysis of XRP price includes the use of the Average Sentiment Oscillator (ASO). According to our analysis, the pattern we are currently seeing in XRP (XRP) is somewhat different from the patterns of the past.
EGRAG CRYPTO says altcoins have avoided a major bearish cross from the average sentiment oscillator at the beginning of the year. The analyst further noted that unlike previous cycles, the 580-day bottom formation period that ended in November 2023 did not result in a cycle peak for XRP (XRP) even after 300 days.
Solana, XRP, and Lunex Network prepare for rally
While Solana (SOL) was able to achieve a 10x surge in less than 5 months and its ecosystem is witnessing significant growth in the memecoin sector, XRP (XRP) is clearly is forming a different pattern and could result in a massive rally.
On the other hand, Lunex Network has recorded huge sales during the pre-sale stage. This is evidenced by the pre-sale, which raised over $870,000 and sold over 640 million tokens. This has led analysts to speculate that the high demand for LNEX tokens could lead to a 200% rally before the pre-sale ends.
Learn more about Lunex Network (LNEX) here.
Website: https://lunexnetwork.com
Social: https://linktr.ee/lunexnetwork
