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Cryptocurrency News Articles

XRP Records Massive Network Activity with Futures Open Interest Hitting New Peak

Dec 03, 2024 at 09:33 pm

XRP has been recording high network activity for the last few weeks as its Futures Open Interest reached a new peak at $3.91 billion.

XRP Records Massive Network Activity with Futures Open Interest Hitting New Peak

XRP has seen a significant increase in network activity over the past few weeks, with its Futures Open Interest reaching a new peak at $3.91 billion. This surge in trading activity is largely due to XRP's recent launch of its stablecoin RLUSD and the increasing adoption of XRP in cross-border payments.

As a result of these developments, analysts are expecting more network activity for XRP in the next few weeks. XRP's derivatives market is already booming with activity, as its trading volume has surged by an impressive 289% to hit the $60 billion milestone. XRP's Options trading has also reached $400,100 with its open interest climbing to $992,330.

At the time of writing, XRP's price is currently at $2.44 after an impressive 27.40% intraday surge. If XRP can maintain its current momentum, XRP's price could test the $4.4008 upper resistance before the end of Q4.

Meanwhile, traders are also showing interest in Lunex Network's low cap altcoin which is already poised for 1800% gains by early 2025. As Lunex Network is reshaping the DeFi trading experience, analysts are expecting this new platform to become the leading exchange by 2025.

Lunex Network is a next-generation cross chain interoperability protocol that is designed to simplify and enhance the user experience in decentralized finance (DeFi). On traditional trading platforms, users have to undergo lengthy processes and connect third-party wallets to transfer tokens across different chains.

However, Lunex Network is resolving this problem by enabling direct cross chain swaps on its platform. This feature allows users to trade tokens across different chains seamlessly, without having to go through the hassle of connecting multiple wallets or waiting for long confirmation times. By resolving this problem, Lunex Network is attracting a range of retail and institutional investors.

Lunex Network is also distinguishing itself from other exchange platforms by focusing on user security and privacy. While most centralized exchanges collect user data upon signup and integrate KYC checks, Lunex Network has opted out of these practices to ensure user anonymity.

As a result, users can enjoy a fully anonymous trading experience on Lunex Network. However, if users opt for the specialized subscription service Lunex Pro, then traders can enjoy additional benefits such as cashback and anti-money laundering checks on their wallet addresses.

To make things even better, Lunex Network also simplifies the trading process for novice traders with its Portfolio Tracker and DeFi Wallet. As users can store all of their digital assets on Lunex Network, they can view updated statistics and charts to track their trading progress over time. These statistics can also help users make better trading decisions and increase their gains over time.

Since Lunex Network is already committed to increasing its adoption across the crypto and real world markets, analysts are projecting up to 1800% gains for LNEX holders by early 2025. Lunex Network’s native LNEX token is currently priced at $0.0033 after a massive 175% jump from its initial price of $0.0012.

As analysts are already expecting another demand induced price jump within the next few days, now is the ideal time to invest in Lunex Network during Q4’s bull market before the token skyrockets in 2025.

You can find more information about Lunex (LNEX) Network here:

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

News source:themerkle.com

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