BNB and Monero face bearish pressure as investors hhift to Lunex Network presale

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BNB and Monero are facing bearish pressure as investors pre-sold the Lunex Network and raised nearly $550,000 in less than a week.

BNB and Monero are facing strong downward pressure following recent price declines. While BNB and XMR traders book profits. Now they’re turning to Lunex Network’s viral presale, which raised nearly $550,000 in less than a week from launch.

Those holding short positions in BNB may soon book profits

Although BNB failed to trigger an uptrend at the end of September, the token still gained a modest 8.67% over the past 30 days. As the broader crypto market enters a bull market in the fourth quarter, BNB is expected to see further bullish momentum in the coming weeks.

For now, BNB price is trading at $551.90, following a 2.72% intraday increase. Investors appear to be holding on to BNB tokens for now, as BNB volume has decreased by 11.86% in the last 24 hours. However, according to Coinglass data, BNB’s long-short ratio is currently 0.97, indicating bearish pressure. If BNB short positions holders start taking profits, the price of BNB may experience a significant downtrend in October.

Monero faces bearish pressure after Kraken delisting

Monero was recently removed from the Kraken exchange in European countries due to new security regulations. As a result, the price of Monero immediately dropped by more than 10%, pushing the price of the token below $150. Monero’s price may experience further deterioration in the coming weeks, as Monero’s on-chain metrics also point to a bearish trend.

Monero is currently trading at $145.48, following a 10.88% drop on the week. Although Monero’s community sentiment is still bullish, analysts expect to see a selloff soon, with Monero showing strong sell signals on the XMR/USDT daily chart. If profit taking occurs, Monero could soon fall to the critical $143.28 support.

Lunex Network’s KYC-free DeFi exchange attracts new investors in pre-sale phase 2

Lunex Network is the source of all the bullish expectation in the market due to its new cross-chain DeFi exchange. With no KYC checks, Ethereum-backed security, and cross-chain trading, Lunex Network is ready to disrupt existing decentralized exchanges and usher in a new era of cross-chain interoperability.

While traditional DEXs require investors to connect to third-party wallets like MetaMask and TrustWallet to swap crypto between different blockchains, Lunex Network solves the problem with its revolutionary DeFi exchange. On the Lunex Network, investors can swap over 50,000 crypto pairs between blockchains with a single click. To make things even better, Lunex Network has a unique no-KYC policy so investors can trade crypto without revealing any sensitive information.

Since Lunex Network’s ecosystem is powered by the platform’s native LNEX token rather than third-party cryptocurrencies, Lunex Network also offers attractive staking rewards to long-term holders. Lunex Network reinvests a portion of its profits into open market buybacks of LNEX, giving out rewards to existing holders with an APY of up to 18%. There are already a significant number of long token holders on the Lunex Network, pushing the token price to new highs, as these investors are able to add more tokens to their staking portfolios without losing their initial APY.

Lunex Network’s viral presale has already raised nearly $550,000 in record time, but analysts believe the token’s uptrend has only just begun. For now, LNEX tokens are selling for as little as $0.0013 ahead of the much-anticipated price increase next week. By the end of the pre-sale phases, Lunex Network is expected to deliver a massive 1800% ROI to early investors ahead of a 100x post-launch rally.

For more information, visit the Lunex Network official website or join the online community for the latest updates.

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