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DeFi is taking off right now, with Solana’s DEXs, such as Raydium, accounting for over $100 billion in volume over the last month. Compared to Ethereum’s Uniswap (UNI), Raydium’s volume is nearly double Uniswap’s $50 billion, making Raydium’s RAY one of the hottest new crypto tokens to hold.
Thanks to the booming DeFi sector on Raydium, the price of RAY has surged over 67%, adding to its year-to-date uptick of 1365%. Uniswap’s UNI, on the other hand, is just starting to recover from a devastating drop of over 70% from its peak price of $44.
Another new crypto DeFi project disrupting the market right now is Lunex Network. This DEX aggregator powered by institutional-grade liquidity is currently flying through its ICO with its LNEX utility token priced at $0.0033, Lunex has raised over $3.6 million.
Lunex Network outshines legacy DEXs with its revolutionary new crypto
Lunex is a new approach to DeFi, and expert analysts are already forecasting great upside potential for its token, LNEX. At its core, Lunex is a futuristic DEX and aggregator built on a speedy network that is capable of facilitating effortless cross-chain asset transfers. While most DEXs require the user to connect a DeFi wallet to swap tokens, all you need on Lunex is the receiving address of your non-custodial wallet, and you can trade across more than 50,000 currency pairs.
That’s right, Lunex acts as a multi-chain bridge and swapping dApp that simplifies the process of swapping or trading tokens on a DEX. Its most revolutionary solution is its capacity to fetch deep liquidity across the Web3 landscape. Each trade is split across multiple chains to find the best price with zero slippage.
Lunex also comes with a portfolio tracker that delivers accurate and up-to-date market intelligence to help with making data-driven decisions. With over $3.5 million worth of LNEX tokens sold so far, holders can enjoy additional perks such as the platform’s staking program.
Raydium leads the charge as Solan’s DeFi ecosystem thrives
Data from DeFiLlama shows that Solana’s DeFi ecosystem just surpassed a monthly trading volume of $100 billion, with Raydium leading the charge, given its 30-day trading volume of over $80 billion. That’s nearly double of Ethereum’s Uniswap volume of about $50 billion. Raydium thrives on the massive attention platforms such as Pump.fun has received amid a frenzy of new crypto meme coins that have taken the crypto space by storm. Can Raydium’s RAY surge past its previous ATH?
Uniswap’s UNI starts to recover amid increasing bullish sentiment
The price of Uniswap’s UNI has registered an uptick over the last 30 days of about 62% as bullish sentiment around Uniswap picks up speed. For the better part of 2024, UNI’s price remained stagnant below the $15 resistance region, but a change in the tide is underway. Can Uniswap reclaim its position as a DeFi giant?
Conclusion
Raydium’s RAY and Uniswap’s UNI are soon going to be locked in a tight race for dominance in the DeFi space. RAY currently enjoys its position as a new crypto DEX token. However, Lunex’s LNEX could soon dethrone them both thanks to its deep liquidity and extensive range of useful features.
You can find more information about Lunex Network (LNEX) here:
Socials: https://linktr.ee/lunexnetwork
Disclaimer: This is a sponsored press release for informational purposes only. It does not reflect the views of Times Tabloid, nor is it intended to be used as legal, tax, investment, or financial advice. Times Tabloid is not responsible for any financial losses.
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