Major Cryptocurrencies Solana and Ethereum Experience Significant Declines as Influence Shifts Towards Lunex Network, Encouraging Diversification among Investors
Crypto Markets Are Churning: Solana and Ethereum Struggle While Lunex Network Emerges
The crypto giants Solana (SOL) and Ethereum (ETH) aren't immune to the market turbulence. Even with Solana's record-breaking DeFi activity, the token isn't escape-proof from liquidations, and Ethereum's price crash below the $3,000 mark has left traders disheartened.
Amid this gloom, newcomer Lunex Network is making waves by providing real-world utility. Simplifying cross-chain transactions and taking advantage of the latest Web3 technology, Lunex could surpass many top DeFi altcoins by 2025.
Solana Investors Sell Off Despite Record-high DeFi Activity
Despite handling over $258 billion in trading volume in January - a record high for Solana - the token couldn't retain investor confidence. Solana's active wallets plummeted to 3.6 million by the end of the month, and the bearish trend continued with a 10% drop in the token's price in the last seven days. As of press time, Solana was selling at $172.23, having experienced just a 2% intraday surge.
Furthermore, Solana's trading volume saw a 37% crash during the same period, indicating bearish momentum.
Ethereum Faces More Losses Amid Mass Liquidations
Ethereum has also been experiencing massive price declines due to a market-wide selloff, pushing its value below the $3,000 support level. Traders hadn't anticipated this crash, having opted for long positions on Ethereum, hoping for a recovery against Bitcoin. As a result, the liquidations led to a steeper decline.
With a current value of $2,734 and a 1% intraday increase, Ethereum's success depends on maintaining the $2,500 support level. If the price falls below this mark, it could trigger further price drops to $2,120 or even $2,000.
Lunex Network Could Take the Lead in the DeFi Market
Lunex Network is enjoying rapid adoption during its presale, having sold an impressive 66% of its tokens. Its community-driven growth has helped raise over $7.25 million, showcasing the platform's potential strength and bullish momentum.
Lunex Network allows crypto swaps across 40+ blockchain networks, enabling users to swap over 50,000 cryptocurrency pairs without resorting to third-party apps like MetaMask or TrustWallet. Its no-KYC policy also appeals to whale investors by ensuring anonymity.
To facilitate easier trading, Lunex has introduced its Portfolio Tracking feature, enabling users to monitor their tokens, stocks, bonds, and ETFs on a single mobile app and receive consistent market updates to aid better trading decisions.
Business owners are also flocking to the ongoing presale due to the attractive B2B payment gateway, which enables merchants to accept cryptocurrency as a form of payment from customers worldwide.
Additionally, Lunex houses over 65 RPC nodes to support Web3 dApp development, offering developers an easy way to access these nodes by investing in the native LNEX token.
Since Lunex Network appeals to both small and large-scale investors, the platform has already recorded a demand-induced 425% price surge during the presale. With a current token price of just $0.007 each, investing in LNEX now might be a wise choice over established networks like SOL and ETH.
You can find more information about Lunex (LNEX) Network here:
- Website: https://lunexnetwork.com
- Socials: https://linktr.ee/lunexnetwork
- Despite Solana's record-breaking DeFi activity and high trading volume, investors have been selling off the token, causing a drop in its price and active wallets.
- Ethereum is facing losses due to a market-wide selloff, with its price crashing below the $3,000 support level and leading to mass liquidations.
- Amid this market turbulence, the newcomer Lunex Network is gaining attention for providing real-world utility and simplifying cross-chain transactions using Web3 technology.
- Lunex Network's presale is experiencing rapid adoption, with 66% of tokens already sold and over $7.25 million raised.
- Lunex Network offers a portfolio tracking feature, enabling users to monitor their cryptocurrency, stocks, bonds, and ETFs on a single mobile app, and a B2B payment gateway for merchants to accept cryptocurrency.
- As Lunex Network appeals to both small and large-scale investors, investing in its LNEX token might be a wise choice, considering its 425% price surge during the presale and current low token price of $0.007 each.
