The US SEC has finally filed an appeal against Judge Torres’s ruling against Ripple (XRP) in 2023. The judgment that determines Ripple (XRP) sales are not securities transactions. In an expected development, this appeal has sparked a sell-off among investors who are considering other options.
Among the top crypto coins considered are Toncoin and Lunex Network (LNEX). Despite Toncoin’s market resilience, investors have more confidence in Lunex Network which is developing a groundbreaking Web3 DeFi crypto exchange.
Lunex Network’s Strong Presale Performance Fuels Investor Confidence
Lunex Network (LNEX) has drawn the attention of top crypto investors after a stellar performance at the stage 1 presale, which saw the tokens sell out within 72 hours of kicking off, raising over $550,000 in the process. Now at stage 2 of the presale the project has raised over $500K and is poised to outshine top altcoins Ripple and Toncoin in the market.
For context, Lunex Network is building a novel DeFi crypto exchange that will provide cross-chain interoperability, transparency, top-notch security, and a massive rewards system. To make the platform unique and boost its adoption, Lunex Network allows these cross-blockchain swaps to be affordable and fast using smart contracts.
With security issues a focal point in many crypto exchanges, Lunex Networks trades are immutable and transparent, making it hard to alter transactions. Moreover, it boasts a no-KYC policy, which allows users to keep their information confidential during transactions. At Lunex Network, all a user needs to do is input their wallet address and initiate a transaction.
Other notable features of the ecosystem are the staking reward system and revenue-sharing model. To prevent an event of a rug pool scenario, the liquidity pool will be locked for 24 months. So far in the presale, LNEX, the utility token is sold for $0.0013 with analysts projecting 50x rallies in Q4. As such, now is the best opportunity to accumulate the token.
Ripple Price Slumps Following SEC Appeal
Ripple (XRP) is struggling as its price continues to plummet. Things could get worse as the US SEC has appealed the 2023 judgment about Ripple security transactions. The resurgence of the case is already affecting XRP market sentiment, with CoinMarketCap stats showing an 11% decline in XRP price in the past week.
Meanwhile, the XRP market sentiment has been bearish for some time with the Fear and Greed index at 32 (Fear). Moreso, the XRP market cap has dropped by 11% in the past few days to signal slow market activity. However, Coincodex, the popular prediction platform is bullish on XRP with a 19% positive projection in the short term.
So far, XRP is currently trading below the 50-day and 200-day SMA despite 4% price volatility. The XRP coin will need to hold support at the $0.50 mark to stand a chance of a resurgence. While it recorded 15 green days in the past month, there is little space for optimism. Based on the current situation, investors could move to a more promising LNEX coin.
Toncoin’s Bullish Run Comes to an End; Expert Predicts Bearish Trend
Toncoin (TON) has seen its bullish rally halted as it returns to the bearish market. Although the Toncoin token has strong metrics, it is still at the negative cross pattern. With market cap and trading volume down in the past day as per CoinMarketCap, there is pessimism in the air.
Crypto Parrot, an investor, studied the Toncoin price chart and observed that it has entered a bearish trend. The analyst believes this drop is due to selling pressure across the market, which has affected numerous crypto assets.
Meanwhile, the Toncoin Fear and Greed index is 37 (fear), while the market sentiment is bearish. The technical analysis suggests a further drop on the horizon, with Toncoin falling below the $5.5 major support zone. Even at that, experts at Coincodex remain optimistic with a bullish Toncoin price prediction of $16 in the coming weeks.
Which Altcoins Has Massive Growth Potential This Year?
With the appeal by SEC against Ripple and the continuous bearish trend of Toncoin investors are seeking a more fruitful and profitable alternative. While Lunex Network might be new, its current presale success puts it in a better position ahead of other altcoins.
Discover the Exciting Opportunities of the Lunex Network (LNEX) Presale Today!
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