Lunex Network’s (LNEX) Ethereum-Backed Trading Platform Gains Traction in Q4 Bull Market

Lunex Network is still a newcomer in the Web3 DeFi industry but it is already gaining significant attention for its revolutionary exchange.

Cardano (CRYPTO: ADA) is currently the second most popular crypto, surging over 100% in 30 days.

What Happened: Cardano is up 1.59% over the last 24 hours and trading at $0.73 at the time of writing.

The second-largest blockchain by market cap crossed over the $0.70 mark for the first time since April.

The token’s 30-day price performance shows a 109.43% increase and 11.04% in the last seven days.

Cardano is now up over 100% since getting mentioned by Elon Musk in October and experiencing a 30-day downturn.

The token dropped to lows of $0.34 in early October, following seven weeks of decline and seven red candles on the price chart.

After forming a golden cross on its one-day chart, many believe Cardano’s price could rally towards the big $1 milestone within the next few weeks.

Total Value Locked Surges: Total value locked (TVL) on Cardano has also reached a new milestone.

According to data from Defi Llama, Cardano now has over $470 million in assets locked in decentralized finance (DeFi) protocols.

The TVL on Cardano has surged significantly over the last few months, as more protocols have launched and integrated with the blockchain.

At the beginning of 2023, the TVL on Cardano was less than $100 million.

However, the launch of protocols such as SundaeSwap, Minswap and Meld has helped to increase the TVL substantially.

The recent increase in TVL is likely to benefit Cardano in the long run, as it will attract more attention from both retail and institutional investors.

Increased network activity is also likely to lead to higher demand for ADA tokens.

The token has dropped seven spots on CoinGecko’s list of top 10 cryptos by 24-hour trading volume, now sitting at $1.1 billion.

Cardano is currently the seventh most traded crypto in the last 24 hours.

The token dropped to as low as eighth place earlier this week.

However, it managed to regain some ground and is now positioned seventh once again.

ADA Price Action: Cardano is showing signs of slowing down, priced above all Simple Moving Averages (SMAs) on the four-hour chart.

Crypto traders are keeping an eye on the Commodity Channel Index (CCI), which is flashing sell signals at -160.

The Elder Impulse Indicator is showing bullish Neutral Zone signals, while the Efficient Trend Indicator (ETI) is displaying a sell signal.

Relative Strength Index (RSI) indicator is at 71.03 —modities are considered overbought when the RSI indicator reading is above 70.