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The Q4 hype isn’t a mere saying after all, as more cryptocurrencies continue to prove their lucrative potential. While the majority are still consolidating at key support levels, some cryptocurrencies have already commenced price recovery. Notably, Avalanche (AVAX)’s increasing whale transactions have pushed the AVAX price above the support level around $24.
Similarly, Lunex Network (LNEX)’s newly acquired title as Solana ‘dApp Challenger’ is drawing enormous attention for the presale star. While 6 Solana-based DeFi protocols recently surpassed the $1B TVL threshold, market observers believe that the Ethereum-based Lunex Network will quickly follow suit.
With Growing Presale Interest, Can Lunex Network Truly Challenge Solana DeFi Protocols?
Lunex Network (LNEX) is making waves in the presale market, raising over $540K at an ample price of $0.0013 in the second presale phase. While it is designed to connect separate blockchains and establish a non-custodial crypto exchange, Lunex Network allows users to instantly trade and swap over 50,000 cryptocurrencies without the need for KYC or third-party crypto wallets.
Asides ensuring complete privacy for users, Lunex Network provides institutional-grade services such as a B2B payment gateway. By integrating Lunex custom API keys, corporate businesses can easily accept crypto payment and swap them to fiat currencies – a move that will significantly aid real world business crypto adoption. Meanwhile, businesses and retail users can access the platform’s portfolio tracking feature, making it a comprehensive network for crypto management.
Additionally, users can optimize their earnings by contributing to the network’s staking pool and receive rewards in the form of trading fees and cashback in currencies like Bitcoin, Solana, and more. At the core of its operation is the native $LNEX token which market analysts foresee an 18X price surge by launch, making it a good choice for early buyers.
Avalanche Whale Transactions Jump 98%; Can AVAX Price Hit $30 Soon?
Avalanche (AVAX) has made significant recovery following a noticeable decline to the $24 price levels. While many market analysts consider this as a support zone for an imminent price rally, a 98% increase in whale transactions further suggests a growing interest in the native AVAX token.
Currently priced at $29.26 and $26.00, AVAX price reflects a noticeable recovery pattern despite noticeable 11% decline in the past week. With Avalanche token’s price recovery becoming more evident, the DeFi token exhibits a positive monthly price outlook with over 20% price gain.
Given its overall positive outlook and increasing whale activities, market analysts foresee a price rally that could push AVAX price beyond the $30 resistance level. Furthermore, with altcoin prices currently gaining bullish momentum, the AVAX price could potentially make a strong stride towards its 6-months ATH of $60.69.
Solana Price Reflects Recovery Potential Amidst Positive Network Developments
Solana (SOL) has been in the spotlight for different reasons, one of which include Sygnum Bank’s claim that the scalable blockchain could challenge Ethereum’s dominance. The Swiss bank claims in a recent statement that there have been indications that even “conservative institutions” may prefer Solana’s scalability to Ethereum’s stability and security advantages.
Meanwhile, 6 Solana-based DeFi protocols recently crossed $1B in total value locked (TVL), further buttressing Solana Network’s market strong positioning and lucrative prowess. Notably, Liquid staking provider Jito led Kamino, Jupiter, Raydium, Marinade, and Sanctum with over $2 billion in TVL.
Although uncertain, this positive network performance may have contributed to SOL token’s price recovery from its support level slightly below $135. Currently priced within a weekly range of $155 and $144, SOL price saw a 7% weekly decline, albeit, displaying an obvious reversal move towards the $155 resistance level.
Can Lunex Mirror Solana-based DeFi Protocol’s Success and Outpace Avalanche?
Solana-based DeFi protocols are known for their high throughput and scalability which may be hard to compete with for an Ethereum-based DeFi protocol. However, Lunex Network adopts a unique approach that introduces an unusual speed to crypto transactions.
In its case, Lunex Network facilitates a multi-chain instant swap and transfer which cuts down on the processing time compared to other DeFi protocols, including those based on Solana. This attribute gives Lunex Network a chance to rank alongside top altcoins like Avalanche, and potentially mirror its fast-rise in the crypto market.
Discover the Exciting Opportunities of the Lunex Network Network (LNEX) Presale Today!
Website: Lunex Network Network
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Source: https://en.cryptonomist.ch/2024/10/07/avalanche-targets-30-98-surge-whale-transaction-lunex-network-dominates-presale-solana-challgener/