Solana (SOL) rose from $20 to $200 in just around five months. Although some crypto traders would have assumed the altcoin would not reach this mark in a short period, this turned out to be their surprise. Anyway, a trader who had expected Solana’s (SOL) surge now has optimistic ideas about XRP (XRP) and Lunex Network (LNEX).
This trader believes that XRP (XRP) and Lunex Network will probably reach new highs before 2024 closes. XRP (XRP) is still trying to break out from a consolidation phase, but Lunex Network is creating waves in its presale that have already generated over $870,000 in just a few weeks. This shows how much value investors find in the project.
Lunex Network Makes Cross-Chain Transactions Easier
Aiming at connecting several isolated blockchains together, Lunex Network is a promising DeFi protocol. Investors who engage in cross-chain transactions will no longer be under pressure from switching platforms in order to transact across several blockchains. Moreover, this would save traders some money they would have otherwise paid for additional fees.
Lunex Network has an advantage over other decentralized exchanges like Uniswap, which is Ethereum-based and PancakeSwap, which is BSC-based by letting quick swaps across several blockchains. Including Ethereum, Binance Smart Chain, Solana, Tron, and others. Apart from this, Lunex Network ensures the lowest possible cost for transaction fees.
This will also give the platform a direct advantage over Ethereum-based DEXs like Uniswap which usually faces high gas fees as a result of network congestion. Meanwhile, the utility token of Lunex Network, LNEX, is currently having its presale. It may surprise you to know that the price is very low in stage 3 of the presale – just $0.0015 per token.
Solana Blockchain Records Growth of Memecoins
The memecoin market capitalization is currently over $50 billion according to CoinMarketCap data. However, the market capitalization of the memecoins in the Solana blockchain alone is said to be over $10 billion. This means about 20% of the general meme coin valuation falls under the Solana ecosystem.
Meanwhile, a recent surge among these memecoins was what caused the meme coin valuation in the Solana ecosystem to hit $10.2 billion. This made a lot of memecoin fans, especially those who invested in memecoins that are based on Solana (SOL) like Dogwifhat and Bonk, excited as significant gains kept on rolling into their portfolios.
Even though memecoins have a playful and meme-themed origin, these tokens are fast-growing as investors and traders consider them a profitable alternative to diversify their portfolio and make quick gains as a result of the high volatility.
XRP Coin Shows Unique Market Behaviour
It is true that the XRP coin has been consolidating for years. Even though there were a few periods of apparent breakout in the XRP price, the overall condition of the altcoin has been mostly consolidation. Moreover, a crypto analyst who goes by the name EGRAG CRYPTO thinks that XRP (XRP) is displaying a unique market behavior that may cause a rally soon.
The analysis of the XRP price by this crypto expert includes the use of the Average Sentiment Oscillator (ASO). According to the analysis, the pattern currently being displayed by XRP (XRP) is somewhat different from historical patterns.
EGRAG CRYPTO says that the altcoin has avoided a major bearish cross from the Average Sentiment Oscillator earlier in the year. The analyst further noted that, unlike previous cycles, a 580-day bottom formation period which concluded in November 2023 did not result in a cycle peak for XRP (XRP) even after 300 days.
Solana, XRP, and Lunex Network are Set for a Rally
While Solana (SOL) was able to make a 10x surge within 5 months and its ecosystem is witnessing significant growth in the meme coin sector, XRP (XRP) is apparently forming a different pattern from previous cycles that could result in a massive rally.
On the other hand, Lunex Network is recording massive sales in its presale phase. This is evident in over $870,000 raised in presale revenue and over 640 million tokens sold. This is causing analysts to speculate a possible 200% surge before the presale concludes because of the high demand for the LNEX token.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
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