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Solana and XRP see strong weekly gains but face correction risks, while Lunex Network attracts investors with cross-chain trading and staking rewards in its presale.
Solana (SOL) and Ripple (XRP) have both recorded significant gains over the last seven days but analysts are already seeing signs of an upcoming correction phase. Meanwhile, Lunex Network’s presale is attracting investors with its cross-chain trading features and staking rewards.
Solana’s rally is expected to end soon
Solana’s price only increased by 9% over the last seven days as the broader crypto market recorded exponential gains. Although Solana surpassed Ethereum in terms of transaction volume in October 2024, Solana’s price trend is now showing signs of a potential correction in the next few days.
Solana is currently trading for $216 after an intra-day increase of 8.9%. Solana’s volume has also decreased by 8.97% over the last 24 hours which reflects the slowdown in investor confidence. Since Solana’s CCI has turned negative already, Solana appears to be losing its upward momentum. As Solana’s RSI gets closer to oversold territory, analysts believe Solana might retrace toward the $211.81 support in the upcoming days.
XRP’s buying activity sees huge decline
XRP’s price experienced massive fluctuations over the last few months as XRP owner Ripple continued its battle with the US SEC. Even though XRP recorded a significant 109% rally over the last seven days, XRP’s buying activity appears to be cooling down now.
XRP is currently trading for $1.15 after an intraday increase of 31.06%. Since XRP’s RSI is stepping into oversold territory as the CCI flashes sell signals, analysts believe XRP’s rally from last week is likely to end in vain.
Lunex Network prepares for another massive rally
Lunex Network has recorded several rallies over the past few weeks that have pushed the token’s price up by 116%. Even though Lunex Network is still in presale, the platform has already proven its potential by raising more than $2.4 million in record time. If Lunex Network maintains this upward momentum by the end of 2024, analysts are projecting up to 1800% returns for LNEX holders before the token is officially launched on the open market.
This week, Lunex Network’s price has reached a new all-time high of $0.0021. Since Lunex Network is still experiencing high buying activity, analysts are projecting another price before the end of this week.
The real reasons why Lunex Network is experiencing such exponential demand is the platform’s cross-chain trading features and staking rewards. When traders invest in Lunex Network’s presale, they get exclusive access to the platform’s noncustodial DeFi exchange as soon as it is launched. Since every transaction made on Lunex Network is encrypted on Ethereum’s immutable blockchain and executed through smart contracts, traders can retain full control over their assets while trading.
To make things even better, Lunex Network shares a big chunk of its weekly revenue to current LNEX holders in the form of staking rewards. Since Lunex Network is a community-backed token, the platform uses up to 18% of its weekly revenue to purchase tokens on the open market. Half of these are distributed to stakers as rewards while the remaining are removed from supply through a token burn mechanism that keeps LNEX’s price deflationary over time.
To learn more about Lunex Network, visit the website and its socials.
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