Solana and Bitcoin don’t seem to get along too well, but Coinbase Wrapped BTC (cbBTC) is bringing Bitcoin to Solana’s network to increase Bitcoin’s utility. Amidst this sentiment, all eyes are on Lunex Network’s viral presale which is expected to become the leading decentralised exchange platform by 2025.
Solana (SOL) Projected to Breach $200 Level Soon
Solana has made several big announcements during its recent Breakpoint conference, and one of them was an integration with travel booking platform Travala. Solanausers can now make travel bookings using cryptos on the Solana network such as SOL, USDT, and USDC. Following these strategic announcements, Solana’s price has been on a significant uptick.
Solana is currently trading at $147.44 after a 3% intra-day increase. As Solana’s Exponential Moving Averages converge around a pivotal price point, Solana is expected to form a solid base for more upward movement in the upcoming weeks.
Bitcoin (BTC) Consolidates After Fed Rate Cut Rally
Bitcoin experienced a 7% rally last week after the US Federal Reserve cut interest rates and triggered a market-wide bullish sentiment. However, Bitcoin’s on-chain data reveals that some Bitcoin investors are booking profits. Since Bitcoin’s NPL indicator increased from 120.79 million to 757.43 million over the weekend, Bitcoin holders appear to be realizing profits now.
Bitcoin is currently trading at $63,457.53 after a minor 0.26% intra-day increase. Since Bitcoin’s institutional or whale demand also took a mild fall in the last few days, there might be a short-term consolidation in Bitcoin’s price. If Bitcoin breaks above $64,700 in the next few days, it could test the $65,379 resistance soon. However, as Bitcoin’s RSI approaches the overbought level at 70, Bitcoin’s price may fall to the $62,000 support.
Coinbase Wrapped BTC (cbBTC) Integrates with Solana
Coinbase recently launched an ERC-20 token called Coinbase Wrapped BTC (cbBTC) which is backed 1:1 by Bitcoin. Coinbase Wrapped BTC aims to enhance Bitcoin’s utility by allowing Coinbase users to access DeFi applications using their BTC holdings. After its initial launch in Early September, Coinbase Wrapped BTC was only supported on Base and Ethereum. Now, Coinbase has announced an integration with Solana to expand the token’s utility to more blockchain networks.
Since Coinbase Wrapped BTC’s price is the same as Bitcoin’s, it is currently trading for $63,538.10. Bringing Coinbase Wrapped BTC to Solana is more likely to benefit Solana than Coinbase, especially since Solana is known for its fast transaction speeds and low fees.
Lunex Network (LNEX) Changes DEX Market with No-KYC DeFi Exchange
Lunex Network (LNEX) is launching a new multi-chain bridge network that rivals the gains of Bitcoin, Solana, and Coinbase combined. Lunex Network enables users to swap and trade cryptocurrencies across several blockchains without any privacy risks and centralization.
With no KYC verifications required, crypto traders can enjoy a fully anonymous trading experience on Lunex Network. The platform already showcases more than 50,000 crypto asset pairs, making it one of the largest crypto exchanges in the market.
Aside from resolving cross-chain fragmentation, Lunex Network also offers users the opportunity to earn passive income through its revenue-sharing model. Lunex Network reinvests its revenue into open-market buybacks of LNEX and distributes these to holders as staking rewards with impressive APYs.
Lunex Network is currently in stage one of its presale, with tokens selling for only $0.0012. Analysts believe Lunex could rally by 1,800% before the end of its presale stages, making now the perfect time to invest in Lunex Network.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
