BNB and Monero are facing price pressure as investors shift focus to Lunex Network’s presale, which has raised nearly $550,000 in under a week.
BNB Short Sellers May Book Profits Soon
BNB, Binance’s native token, is experiencing bearish momentum despite a modest 8.67% gain over the last month. As we move into Q4, BNB could see some bullish activity, but short-term investors may start selling soon, driving prices lower.
Currently, BNB is trading at $551.90, with a slight daily increase of 2.72%. However, a decrease in trading volume by 11.86% over the past 24 hours suggests that many investors are holding onto their tokens. According to data from Coinglass, BNB’s long-to-short ratio is 0.97, indicating that short sellers could soon start taking profits, potentially leading to a price drop later this month.
Monero Faces Pressure After Kraken Delisting
Monero (XMR) has been hit hard following its delisting from the Kraken exchange in several European countries due to new regulatory restrictions. This move caused Monero’s price to drop by more than 10%, pushing it below $150.
Currently trading at $145.48, Monero has seen a 10.88% price decrease this week. Despite the community’s optimistic outlook, market analysts predict further sell-offs, which could drive the price to $143.28 if the trend continues.
Lunex Network’s No-KYC Trading Attracts New Investors
Lunex Network has created a buzz in the market thanks to its innovative decentralized exchange (DEX) that requires no Know-Your-Customer (KYC) checks. The platform’s native token, LNEX, has already raised nearly $550,000 in its presale, capturing the attention of investors looking for secure and private trading solutions.
What sets Lunex Network apart is its seamless cross-chain trading, allowing users to trade over 50,000 crypto pairs without needing third-party wallets like MetaMask. Lunex also offers attractive staking rewards of up to 18% APY to long-term LNEX holders. The network plans to reinvest profits into LNEX buybacks, further driving up the token’s value.
As Lunex Network’s presale continues, the current token price of $0.0013 is expected to rise significantly. Market analysts predict a potential 1800% return for early investors, with more price surges expected post-launch.
Conclusion:
BNB and Monero are currently facing bearish pressure, but the excitement surrounding Lunex Network’s presale could be a game-changer. With its no-KYC trading and strong staking rewards, Lunex is quickly becoming a favorite among investors.
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Disclosure: This article is for educational purposes and should not be considered as financial advice.