The search for the next 100X token is endless for most savvy investors. However, it becomes even more necessary if the bulk of your holding is exposed to certain risks. In this case, Binance investors are not taking chances amidst the endless regulatory tussles across various jurisdictions, which have forced many to diversify their holdings into other projects.
Among the promising projects receiving this diversification is an Ethereum-based DeFi token, Lunex Network (LNEX), which aims to redefine the ease of transaction within the decentralized exchange (DEX) market. Could this be Ethereum (ETH) Network’s best DeFi protocol? Let’s find out.
Lunex Network Steals the Spotlight with Innovative Multichain DEX Platform
The Lunex Network (LNEX) has been making headlines as it nears the end of its second presale phase, having raised nearly $675K in accumulated funding while its native $LNEX sells for just $0.0013. But that’s not the highlight. The DeFi protocol has drawn enormous attention because its multi-chain DEX facilitates instant swap and transfer of over 50K crypto assets across multiple chains at a meager cost.
Meanwhile, owing to its community-first approach, Lunex Network prioritizes privacy by eliminating the need for KYC or third-party wallets. While this guarantees complete anonymity, Lunex Network further ensures full Transparency, processing all orders via smart contracts in place of traditional AMM.
Another highlight of the project is its unique revenue share model, which involves Lunex Network buying back $LNEX tokens from the open market and distributing a portion of these as incentives for token holders. Furthermore, the platform offers institutional services like a B2B merchant payment gateway that enables businesses to incorporate crypto payment. These features have attracted the attention of many, including Binance investors.
Binance Token Months-Long Price Consolidation Suggest Possible Breakout Amidst Regulatory Woes
Since early March, Binance (BNB) price has been confined within a consolidation phase, trading within the $500 and $600 price ranges. Although BNB price managed to break past the $600 price mark in June to reach an ATH of $720, it has since found its way back to the consolidation zone.
Meanwhile, a prolonged consolidation like this usually indicates an imminent price outbreak. Interestingly, Binance token’s analytic metrics, including 20, 50, 100, and 200-day directional index points at a potential buy, further affirming market analysts’ bias for a potential price outbreak.
However, while Binance Network continues to navigate its regulatory woes, token holders are treading cautiously, considering the potential risk associated with such events. This has prompted many to diversify their holdings into promising alternatives like Lunex as a precaution.
Ethereum Price Dips Below $2,400, Can it Retest $3,000 Levels this Q4?
Ethereum (ETH) Network has been heavily criticized lately for its progressive decline. Just recently, ETH’s price dropped below the $2,400 mark following a prolonged attempt to break past the $2,700 resistance zone.
Currently trading within a monthly price range of $2,353 and $2,388, ETH price reflects a modest price gain slightly above 1%. However, the ETH price trajectory is generally bearish, considering it faced a noticeable decline from the monthly peak price of $2,719 before settling below the $2,400 price mark.
Meanwhile, looking at Ethereum token’s directional index on TradingView, the 20, 50, 100 and 200-day moving averages reflect bearish momentum, suggesting that ETH price may experience further decline, possibly dropping below the $2,300 price mark soon.
Can Lunex Network Mirror Binance Network Success?
While Binance has established itself as a mainstay in the crypto market, it has also had to navigate strict regulatory restraints. While this concern has become more intense lately, emerging innovative DeFi protocols like Lunex Network stand a chance to gain much attention. Moreso, Lunex Network’s focus on speedy multi-chain crypto swapping and institutional integration set it apart for exponential growth.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
