Emerging Ethereum Token Goes Viral - Monero (XMR) Price Drops - Is Shiba Inu (SHIB) Back?

Monero Gains 4%, Shiba Inu Dips, Lunex Network Eyes DeFi Boom

Monero (XMR) has faced a significant price drop as the market shifts and now focuses on Lunex Network. In the meantime, another token making a possible return and capturing investor’s attention is Shiba Inu (SHIB). With these developments unfolding, let’s see what it would mean for the evolution of these cryptocurrencies in the future. 

Monero (XMR) Sees Some Green Days

Monero is up by 4.13% in the past 24 hours making it one of the best-performing coins in the market. As of now, Monero (XMR) is at $152.14 with a market capitalization of $2.8B and settling down from its uneasy beginning of the month in October. The beginning of the month saw Monero at $153.80 but dropped to $142.96 on the 2nd and $136.43 on the 3rd of October.

This decline came after Kraken announced it would be removing Monero from the EEA in accordance with regional legislation by MiCA — this move is slated to take effect in December. Despite facing regulatory challenges, Monero advocates remain hopeful. They believe that its focus on anonymous transactions will keep it relevant, regardless of exchange delistings.

Shiba Inu’s (SHIB) Value Falls By 1%

Data from the platform, Shibburn, which tracks transactions that are targeted for a reduction in Shiba Inu’s supply, show that the burn rate of Shiba Inu witnessed a decline. This decline has come against the backdrop of almost a 1% fall in 24-h, however the value of SHIB price had increased by above 5%.over the last 7-days.

Lucie, the marketing lead for Shiba Inu, published two posts today to address the recent downturn in the crypto market. She warned the Shiba Inu community about the current situation. Lucie believes that the cryptocurrency market's decline stems mainly from uncertainty related to worsening developments in the Middle East and the upcoming U.S. presidential election in November.

Lunex Network (LNEX) Set To Be A Key Player In The Upcoming DeFi Boom

Lunex Network Presale offers 50,000 cryptocurrency pairs across 40 networks, introducing blockchain interoperability under one protocol. It eliminates the need for third-party services like centralized or decentralized exchanges and risky asset bridges. The protocol simplifies buying, selling, swapping, and custody, providing new users with a seamless DeFi experience through an easy-to-use protocol and self-custodial wallet.

Lunex Network also supports global businesses with its B2B payment gateway. Through API key integration, businesses can easily accept cryptocurrency payments and convert them into fiat currencies. This service streamlines the payment process for companies. Additionally, Lunex Network offers portfolio tracking services to retail investors, helping them manage their crypto holdings efficiently. By combining payment solutions with portfolio management, Lunex Network provides a comprehensive platform for cryptocurrency users and businesses alike.

Lunex Network’s unique offerings have generated excitement among crypto investors as stage 1 of its presale sold over 430 million $LNEX tokens. In Stage 2, $LNEX is available at $0.013, offering early buyers a chance to enter the market at the lowest price. Analysts predict Lunex Network could become a key player in the upcoming Lunex DeFi protocol boom, with the $LNEX token seeing a 100x increase as soon as it lists on exchanges. 

You can find more information about Lunex Network (LNEX) here:

Website: https://lunexnetwork.com

Socials: https://linktr.ee/lunexnetwork