Cardano was on a bullish trend last week but it is quickly reaching a consolidation phase now.
Meanwhile, Uniswap is being overthrown by Lunex Network’s (LNEX) viral decentralized exchange that enables crypto trading across blockchain networks.
Cardano co-founder Charles Hoskinson recently expressed deep concerns about Trump’s new DeFi venture called World Liberty Financial. Hoskinson believes bringing politics into the crypto world could cause more harm than good, especially since several cryptos are already under investigation by the SEC.
Cardano’s community seems to resonate with Hoskinson’s comments since the token went on a bullish rally during the last seven days. Cardano is currently trading for $0.3724 after an intra-day surge of 4.74% that has brought Cardano back into the top 10 list. However, this ongoing Cardano rally might be short-lived as Cardano’s RSI has already reached 70 on the 4-hour chart.
Uniswap was already under investigation by the SEC but now the crypto community is claiming that Uniswap is also taking bribes. While one person claimed Uniswap asked for $20 million for a failed deployment, another one claimed that Uniswap requested $10 million to promote carbon credit trading on its DEX.
While Uniswap’s CEO quickly denied these allegations, Uniswap’s community sentiment fell into bearish territory. Uniswap is currently trading for $6.81 after a 0.11% intra-day decrease. Since Uniswap is also trading below its 100-day and 200-day Simple Moving Averages for now, Uniswap is expected to encounter steeper declines in the upcoming weeks.
While Cardano and Uniswap worry about legal troubles, Lunex is ready to dominate the decentralized exchange market, which generates more than $275 trillion in revenue every 24 hours. By launching the first community-backed, cross-chain exchange, Lunex is revolutionizing the entire DeFi market.
On Lunex Network, traders can enjoy trading across several blockchains with low transaction fees. Instead of being restricted to tokens on a particular chain, Lunex creates a non-custodial exchange that allows traders to access all blockchain networks under one roof.
Aside from integrating the latest Web3 technology, Lunex also boasts a community-driven ecosystem that rewards token holders with a revenue-sharing model. As the Lunex Network generates revenue with trading and transaction fees, the platform uses a portion of these profits to purchase LNEX on the open market. These tokens are distributed to current LNEX holders as staking rewards with up to 18% APY, giving traders a source of long-term passive income.
Since Lunex has just started its first presale stage, tokens are selling at an initial price of only $0.0012 per token. As Lunex gains traction in the DeFi market, analysts expect this price to increase by more than 1,800% by the end of LNEX’s presale.
You can find more information about Lunex (LNEX) Network here:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…
The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…
In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…
The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…
The launch of $ELIZA, a token introduced by Andreessen Horowitz (a16z) partner @shawmakesmagic, has sparked…
Cardano ($ADA) has been making waves in the crypto market, breaking away from the altcoin…