Ethereum managed to finally reclaim $4,000 after months of failed breakouts. However, celebrations didn’t last long as it was caught in the market-wide correction that saw steep declines across the board.
In times of turbulence, it’s never a bad idea to look into projects that show resilience, and Tron (TRX) and Lunex Network (LNEX) are among the most promising examples. Lunex Network in particular emerged as a serious contender that could challenge the dominance of established DEX platforms such as Uniswap. Let’s dive deeper.
Ethereum Is Now At Crossroads
Ethereum (ETH) experienced a steep decline after surging to $4,000, its short-term price structure broke down. Once the $3,550 floor was tapped, Ethereum saw some relief with a modest bounce. At the time of writing Ethereum sells for $3,650 with a 2% intraday decrease. Bulls must sustain this level, as a weekly close below it, could signal the start of a local bearish trend for Ethereum.
Although corrections of this are generally considered as dips to buy and needed for healthy price action, some Ethereum traders probably don’t feel the same way. According to exchange data from Coinalyze, $164 million in Ethereum long positions were liquidated, with a large whale parting ways with $19.5 million.
Tron Rebounds As Investors Buy Into Strength
Last week, Tron (TRX) soared to a new all-time high, peaking at $0.44. However, as the downturn began, Tron returned most of these gains to the market, and the TRX price declined by over 30%. Tron is now trading at $0.27 with a 5% rebound from the lows. On the daily timeframe, Tron is among the few cryptocurrencies in the green, highlighting remarkable strength that could carry TRX to new heights once a reversal is confirmed.
This is also reflected by the skyrocketing number of Tron holders, now 120-million strong, a new milestone. Moreover, in November Tron hit another record with $500 million in stablecoin transfers across its network, cementing its position as one of the most prominent Layer 1 platforms in the space.
How Lunex Network Redefines The DEX Framework
Lunex is a DeFi protocol that connects individual blockchains including Tron, Ethereum, and Solana. Investors can use the platform to trade across 50,000 different assets at the lowest price possible while earning substantial rewards via Lunex Network’s revenue-sharing mechanism.
No KYC or third-party wallet is needed to access the platform. Users can simply select the currency pair they want to swap, input a crypto address, and confirm the transaction. This not only ensures a frictionless trading experience but also significantly reduces both waiting times and fees.
Lunex will provide users with an exclusive DeFi wallet and dedicated portfolio tracking for optimized asset management, for a complete, 360-degree DEX.
Institutional clients will also be catered to, as they will have access to a special B2B payment gateway API. This will allow businesses to accept cryptocurrency payments that can be quickly swapped into fiat money at the best possible rate.
Holders of the $LNEX token will be eligible for a passive income stream with up to 18% APY, sustained by the exchange’s weekly revenue. This model incentivizes user engagement and promotes long-term holding, allowing the community to earn money while the $LNEX inevitably appreciates in the upcoming months.
$LNEX tokens are now selling for only $0.0044 and so far, nearly $5 million has been raised in funds. Once $LNEX hits the markets and the bull market is in full swing, massive price multipliers could be on the cards, especially when taking into account all that $LNEX has to offer. The best time to invest? Now!
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
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