Cardano was on an uptrend last week, but is now quickly reaching a consolidation phase.
Meanwhile, Uniswap is being toppled by the viral decentralized exchange Lunex Network (LNEX) which enables crypto trading on blockchain networks.
Cardano (ADA) RSI Approaches Overbought Levels on 4-Hour Chart
Cardano co-founder Charles Hoskinson recently expressed his deep concerns about Trump’s new DeFi venture called World Liberty Financial. Hoskinson believes that bringing politics into the crypto world could cause more harm than good, especially since several cryptos are already under investigation by the SEC.
The Cardano community appears to be resonating with Hoskinson’s comments since the token saw a bullish rally over the past seven days. Cardano is currently trading at $0.3724 after a 4.74% intraday surge that brought Cardano back into the top 10. However, this ongoing Cardano rally might be short-lived as Cardano’s RSI has already reached 70 on the 4 hour chart.
Does Uniswap (UNI) accept bribes?
Uniswap was already under investigation by the SEC, but the crypto community is now claiming that Uniswap also accepts bribes. While one person claimed that Uniswap asked for $20 million for a failed deployment, another claimed that Uniswap asked for $10 million to promote the trading of carbon credits on its DEX.
While the Uniswap CEO quickly denied these allegations, Uniswap community sentiment has fallen into bearish territory. Uniswap is currently trading at $6.81 after an intraday decline of 0.11%. Given that Uniswap is also trading below its 100-day and 200-day simple moving averages at the moment, Uniswap is likely to see steeper declines in the coming weeks.
Lunex (LNEX) Dominates DeFi Market With Viral Cross-Chain Decentralized Exchange
While Cardano and Uniswap worry about legal issues, Lunex is poised to dominate the decentralized foreign exchange market, which generates over $275 trillion in revenue every 24 hours. By launching the first community-backed cross-chain exchange, Lunex is revolutionizing the entire DeFi market.
On Lunex Network, traders can trade on multiple blockchains with low transaction fees. Instead of being limited to tokens from a particular chain, Lunex is creating a non-custodial exchange that allows traders to access all blockchain networks under one roof.
In addition to integrating the latest Web3 technology, Lunex also has a community ecosystem that rewards token holders with a revenue sharing model. Since the Lunex network generates revenue through trading and transaction fees, the platform uses a portion of these profits to purchase LNEX on the open market. These tokens are distributed to current LNEX holders as staking rewards of up to 18% APY, providing traders with a source of long-term passive income.
Since Lunex has just started its first presale stage, the tokens are selling at an initial price of just $0.0012 per token. As Lunex gains ground in the DeFi market, analysts expect this price to increase by more than 1,800% by the end of the LNEX pre-sale.
You can find more information about the Lunex Network (LNEX) here:
Disclosure: This is a sponsored press release. Please do your research before purchasing any cryptocurrency or investing in any project. Read the full disclosure here.
