Sources have revealed a decline in the activity of large ETH holders which has sparked concern amongst average investors on how this could affect the Ethereum price. Similarly, LINK holders, unimpressed by the recent platform developments, have eyes on the emerging Lunex Network, which is set to take the DeFi market by storm with its presale racing through stage 1 in just 24 hours!
Let’s explore why investors are flocking to this new DeFi protocol.
Massive Ethereum (ETH) Holders Pullback On Trading Activities
Recent data from CryptoQuant revealed that massive Ethereum (ETH) holders, especially those with wallets holding more than 100,000 ETH, have become less active. These large-scale holders, popularly known as crypto whales, play a major role in maintaining a token’s market liquidity and stability.
The recent slump in ETH whales’ trading activities has raised concerns in average investors about ETH’s ability to maintain its position in the market. As at press time, ETH is trading below the 200-day SMA at $2,428.73, 50% down from its ATH. ETH is outperformed by 54% of the top 100 crypto assets, including Bitcoin, which has resulted in a bearish market sentiment.
Underwhelmed Chainlink (LINK) Holders Seek Other Alternatives
Chainlink (LINK) co-founder Sergey Nazarov gave a keynote presentation at Token2049 in Singapore on Sept. 18, where he highlighted that the value of tokenized RWAs will exceed that of cryptos on Web3 in the coming years. He also explained that Chainlink’s Cross-Chain Interoperability Protocol (CCIP) may play a crucial role in the emerging Internet of Contracts which will link central bank digital currency, among others.
However, his presentation failed to spark enthusiasm and interest in LINK holders, who have set their sights on a token with better earning opportunities. Instead, LINK’s volatility has soared 5.79% high since then, and it is trading below the 200-day SMA, with other key technical indicators predicting a significant price decline to $ 9.61 in the next seven days.
Lunex Network Set To Takeover The DeFi Network With Its Presale
Both Chainlink (LINK) and Ethereum price are declining as holders notice Lunex Network, a hybrid DeFi protocol which integrates off-chain and on-chain elements to offer faster trades with zero slippage. This eliminates the need for intermediaries and ensures user autonomy over assets by allowing them to trade crypto without wallet connections.
Moreover, Lunex Network aims to disrupt traditional financial systems and lead the next phase of crypto trading by enhancing the security of users’ funds and the platform’s efficiency through its smart contract technology. It also employs a deflationary mechanism, ensuring its tokens’ value increases over time.
In addition, Lunex Network is currently in stage 1 of presale where its native tokens, LNEX, can be purchased at an affordable price of $0.0012 each, a very attractive entry point for investors. The network also guarantees growth for every stage, and a massive price rally at launch.
With Lunex Network’s non-custodial design, automatic trading, and over 50,000 multi-chain currency pairs, offering users a wide range of trading options, it is ready to take over the DeFi market. This is why ETH and LINK holders are joining the presale now and why you should too!
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork