Lunex Network (LNEX) Emerges as a Promising Alternative as Cardano (ADA) and Polkadot (DOT) Struggle to Maintain Momentum

As the broader bullish momentum in the crypto market slows down, top altcoins like Cardano and Polkadot are seen struggling to maintain a positive price trajectory.

Top altcoins like Cardano and Polkadot have been struggling to maintain a positive price trajectory as the broader bullish momentum in the crypto market slows down. While both cryptocurrencies have made visible progress in the past few days following a steep correction in their price, savvy investors are pivoting to other assets that could be more rewarding in Q4.

One cryptocurrency that has been generating a lot of buzz in the presale market is Lunex Network (LNEX). The project has surged by roughly 300% from an initial price of $0.0012 to $0.0048, and has also managed to raise over $5.5 million in presale revenue. But what about this project distinguishes it from others? Let’s find out.

Lunex Network’s Institutional-Focus Is Attracting Long Term Investors

The excitement surrounding Lunex Network (LNEX) goes beyond its impressive presale journey which have now become a major attraction for many. As a DeFi protocol, Lunex network’s main attraction lies within its DEX protocol which facilitates the instant swapping and transfer of over 50K crypto assets across multiple isolated blockchains. By streamlining crypto transaction processes, Lunex Network aims to simplify cross-border payment.

Meanwhile, Lunex Network ensures that users are able to carry out crypto transactions at a competitively affordable rate and completely anonymously. This, coupled with a unique revenue share model where the platform allocates a portion of its platform’s earning to token holders, set it apart from the majority of its peers. Furthermore, the platform offers intuitive features like portfolio tracker to ensure that the users enjoy a seamless experience.

Another interesting aspect of this DeFi project is its institutional-focus. Essentially, Lunex Network provides a B2B merchant payment gateway, which when integrated, allows businesses to accept crypto and convert the same to fiat and vice versa. Additionally, developers can access over 65 plus RPC nodes for Web3 development, making the platform a very versatile one. These collective attributes justify the growing interest in the project.

Cardano Token Nears $1 Price Mark Again After Suffering a Major Decline

Earlier in December, Cardano (ADA) token traded as high as $1.30, which marked its peak level throughout the year. At that point, many thought it was making an attempt to retest its all-time high price of $3.10. While this excitement was further fueled by several lofty predictions from top market analysts, ADA price bullish momentum was subsequently saddled by market volatility.

Currently, ADA price is hovering within a weekly price range of $0.822 and $0.902, which reflects a noticeable recovery in the past week. However, despite registering roughly a 9% increase in the past week, ADA token is still down by slightly over 8% in the past month. Regardless, market analysts remain very optimistic, as many predict a potential uptick in Cardano price.

Popular crypto analyst, Ali Chart recently highlighted some similarities between Cardano’s price chart of 2020 with the current year. According to Ali, a similar price correction as we currently have now could be followed by a bull run just as in the case of 2020. If this happens to be the case, Ali predicted a lofty target of $6 for ADA token.

Polkadot Price Regains Stability Above $7; Is $15 Still Possible This Bull Cycle?

Earlier in the year, Polkadot (DOT) token traded as high as $11.50, prompting analysts to predict a target of $15 for the top altcoin. However, DOT price subsequently retraced below $4. While this setback cast a shadow of doubt on Polkadot’s ambitious price target, it recently regained bullish momentum that sent its price above $10 once again.

While DOT price has since retraced to lower levels, it is currently trading within a weekly range of $6.43 and $7.20, which reflects about 11% increase in the past week. This recent uptick further contributed to its overall recovery considering DOT price is still about 14% in the deep over the past month, and roughly 18% decline from its year-to-date entry price of $8.45.

Considering its obvious volatility, DOT token’s ability to hit the $15 price mark is put to question. Albeit, top crypto analysts like Andrew Griffiths are very bullish on Polkadot. According to Andrew, DOT token needs a retest to create a convergence on daily timeframe (D1). This implies that further retracement to $4 can be anticipated before a major rally to about $22.