The latest Federal Reserve decrease has created ripples in the crypto market by being a boost to valuable assets like Ethereum (ETH) and Solana (SOL). Reducing interest rates drives money into riskier markets like cryptocurrency. With so many successful cryptocurrencies available on the market, this might point to the start of yet another DeFi mania.
The effect of the rate drop may vary throughout the market. While Solana and Ethereum face distinct challenges, one future star—Lunex Network—is attracting interest for its anticipated leadership of the next DeFi season.
Solana fluctuates despite the FED rate cut
Solana (SOL) has been among the most active assets in the crypto landscape. It is mostly known for its inexpensive fees and fast transaction rates. While Solana has battled with market volatility since mid-2024, the recent Fed rates cut is seen as a massive boost to SOL. Yet SOL reacted to broader widespread market concerns by falling below significant support levels at $130.
SOL has been bullish since the Fed rate cut, now trading around the $145 mark. Still, the rapid backtracking implies that Solana might struggle constantly, particularly in maintaining market confidence and liquidity.
Given the network’s increasing relationship with meme coins and other speculative assets, SOL’s price stability remains at risk until it can tackle the security and liquidity concerns impacting the ecosystem.
The challenge Ethereum has with scalability and post-rate cut sentiment
The FED’s actions have also impacted the second-largest cryptocurrency by market value. Considering most DeFi applications are built on ETH, more liquidity entering the market helps this platform. However, given the broad reaction of the market to the FED rate cut, ETH’s long-standing scaling issues have become more apparent.
Ethereum’s price has also suffered fluctuations across the board. Despite peaking at $2687 on September 23rd, ETH has massively declined to $2,637 while also losing 0.5% of its market cap and 7.07% of its trading volume. The Ethereum price must now cope with internal challenges such as high transaction fees, network congestion, and macroeconomic concerns.
Lunex: Rising altcoin designed to lead the next DeFi explosion
As Solana and Ethereum fight to stabilize following the Fed rate cut, experts tip Lunex Network as the new altcoin to lead the DeFi industry. Aiming to eliminate some of the challenges both centralized and distributed exchanges confront, Lunex is an innovative multi-chain, non-custodial decentralized exchange (DEX). By merging on-chain and off-chain components, Lunex offers institutional-grade liquidity and slippage-free trading.
Lunex enables customers to trade over 50,000 currency pairs without connecting wallets, offering security, speed, and simplicity. In the first stage of its presale, Lunex is available for $0.0012, and analysts estimate a significant 4,500% rise upon launch.
Lunex stands apart by providing customers control over their assets even as it provides the speed and capacity of centralized platforms. Early investors are poised to see incredible returns as Lunex’s profit-sharing structure guarantees passive income. Ahead of its official launch, its unique features have positioned it as one of the most attractive cryptocurrencies in 2024.
This is without mentioning a whole host of products within their ecosystem, such as the Lunex Wallet, Portfolio Tracker, Crypto to Fiat Debit Cards and B2B Merchant Services. Which could unlock a whole new wave of adoption from real world business into the crypto space.
Take advantage of your chance now—buy into Lunex’s presale while it’s still very cheap for massive gain and contribute to the next DeFi innovation wave.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork