Altcoins like Ethereum (ETH) and Avalanche (AVAX) have been moving upward following the ongoing bullish trend in the crypto market. As of the time of writing, the ETH price has surged by over 8% in the last 24 hours, while the AVAX price is up by over 7% within the same period. The increased interest in both altcoins comes after a general bullish trend in the market.
However, Lunex, a new crypto, has been attracting ETH and AVAX whales with its decentralized finance (DeFi) cross-chain platform. The Lunex project is currently on presale, raising nearly $3 million. Is it a decent alternative to Ethereum and Avalanche? Let’s find out.
Ethereum reaches $3.4K after an increase in DApp volumes
The ETH price crossed the $3,400 mark in the early hours of November 22, surging by over 8% compared to the previous day. Many attribute the price growth to the broader trend in the crypto market, especially after Bitcoin crossed $99K for the first time during the same period. However, some recent developments in the Ethereum ecosystem could also be singled out as an influence.
For context, the Ethereum decentralized app (DApp) volumes increased by 38% in the past month, showing developers’ focus on making the Ethereum blockchain their go-to platform for building. Similarly, ETH dominated its competitors in terms of fees, staking rewards, and total value locked (TVL). However, with Solana constantly on its heels, Ethereum is set to face a strong challenge that could hinder its price growth.
AVAX reaches $36: Aims for double-digit growth
AVAX is a popular Ethereum competitor, and just like the second-largest cryptocurrency, the AVAX price has been experiencing positive movements in the market. The momentum has seen the Avalanche price move up to around $36, up by around 7% in the last 24 hours.
There’s a realistic AVAX price prediction of $40 at the end of the year and a subsequent rise to over $120 in the first quarter of 2025. However, Avalanche faces a strong challenge from competing blockchains like Solana, which has its meme coins soaring and its developer network growing.
Lunex shows utility leads the way for crypto projects
The development of ETH and AVAX over the years has shown that utility tokens remain some of the best investment opportunities in the crypto market. These tokens tend to increase in value as their associated projects develop.
That’s why a new crypto project like Lunex is causing FOMO among investors. The DeFi token powers the Lunex ecosystem, comprising a decentralized exchange for seamless cross-chain transactions. With support for over 50,000 digital assets, the platform boasts a robust system to facilitate fast asset transfers. Moreover, its reward program sets it apart from similar DeFi platforms – thanks to its revenue-sharing model that rewards users with a portion of its profits. This creates a source of passive income for the network users and token holders. They can also earn cashback rewards for every trade completed on the platform.
With these features and massive potential, it’s no surprise that the Lunex presale is on fire. Notably, the LNEX token is selling at a discounted rate of $0.0031 to give early investors a low barrier to entry. Interested investors can lock in some tokens before an inevitable price increase.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork