BNB and Monero face bearish pressure as investors head into Lunex Network presale

BNB and Monero are facing bearish pressure as investors move into the Lunex Network pre-sale, raising nearly $550,000 in less than a week.

Both BNB and Monero are facing strong bearish pressure following recent price declines. As BNB and XMR investors book profits. They're now turning to a viral presale for Lunex Network, which has already raised nearly $550,000 in less than a week since it launched.

BNB short holders may lock in profits quickly

Although BNB failed to trigger a bullish breakout at the end of September, the token still recorded a modest increase of 8.67% over the past 30 days. BNB is expected to see further bullish momentum in the coming weeks as the broader crypto market heads towards a fourth-quarter bull run.

So far, BNB price is trading at $551.90, up 2.72% during the day. Investors seem to be holding on to their BNB tokens for now, as BNB’s volume has declined by 11.86% over the past 24 hours. However, BNB’s long-short ratio is currently at 0.97, indicating bearish pressure, according to Coinglass data. If BNB short holders start taking profits, BNB price could see a significant downtrend in October.

Monero faces bearish pressure after Kraken delisting

Monero was recently delisted from the Kraken exchange in European countries due to new security regulations. As a result, Monero's price quickly fell by more than 10%, with the token's price dropping below $150. Monero’s on-chain indicators are also suggesting a bearish advantage, so Monero’s price could see further turmoil in the coming weeks.

Monero is currently trading at $145.48 after falling 10.88% during the week. Monero community sentiment remains bullish, but analysts expect it to fall soon as Monero has a strong sell signal on the XMR/USDT daily chart. If there is profit-taking, Monero could soon fall to the key support at $143.28.

Lunex Network’s Non-KYC DeFi Exchange Attracts New Investors in Presale Stage 2

Lunex Network is the source of all the bullish hype in the market with its new cross-chain DeFi exchange. With no KYC checks, Ethereum-backed security, and cross-chain transactions, Lunex Network is poised to topple existing decentralized exchanges and start a new era of cross-chain interoperability.

While traditional DEXs require traders to connect to third-party wallets such as MetaMask or TrustWallet to exchange crypto between different blockchains, Lunex Network is solving that problem with its innovative DeFi exchange. Masu. Lunex Network allows traders to exchange over 50,000 crypto pairs across blockchains with the click of a button. Even better, Lunex Network has a unique non-KYC policy, allowing traders to exchange cryptocurrencies without providing any sensitive information.

Because Lunex Network's ecosystem is powered by the platform's native LNEX tokens rather than third-party cryptocurrencies, Lunex Network also offers attractive staking rewards for long-term holders. Lunex Network will distribute rewards of up to 18% APY to current holders by reinvesting a portion of profits into open market buybacks of LNEX. Lunex Network already has a significant number of long holders, as these investors can add tokens to their staking portfolio without losing their initial APY, driving the price of the token to new heights.

Lunex Network's viral presale has already raised around $550,000 in record time, but analysts believe the token's bullish rally is only just beginning. For now, LNEX tokens are selling for as low as just $0.0013 each before the much-awaited price spike next week. Lunex Network is expected to deliver a massive 1800% ROI to early investors by the end of the pre-sale phase, ahead of a further 100x post-launch increase.

For more information, please visit the Lunex Network official website or join our online community for the latest updates.