Why Is Bitcoin Struggling To Smash $100,000 Price As Ethereum & Solana See Slight Retracement

Bitcoin (BTC) was a mere $300 away from reaching the coveted $100,000 milestone. However, a steep sell wall barred it from breaching resistance and selling pressure forced a retracement to lower levels. 

As a result, a market-wide correction followed, with Solana (SOL) and Ethereum (ETH) entering a cool-off phase. Meanwhile, Lunex Network, a newcomer in the DeFi landscape, continues to rise undeterred. Its viral presale is gaining massive traction, with thousands of investors hurrying to get an allocation at discounted prices.

This article is sponsored content and does not reflect the opinion of the CryptoDnes team. The material does not constitute investment advice and is provided by the respective company.

Ethereum Is Consolidating Around $3,500 While ETF Breaks Records

Although Ethereum succeeded in breaking out of its trading range and soaring to $3,500, it was vastly outpaced by other major Layer 1s such as Solana and Cardano. At press time, Ethereum sells for $3,584 with little to no movement in terms of daily price action and an 18% drop in trading volume, suggesting that buyers are taking a step back. Over the last 24 hours, around $28 billion worth of ETH has been traded on exchanges. 

The next big target for Ethereum is the $4,000 mark, which was briefly tapped in March before the start of the sell-off that marked the start of the bearish phase of 2024. This could soon change, however, as smart money continues to bid, with Ethereum ETF seeing increased interest. Over the last few days, Ethereum has been consistently outperforming Bitcoin on the ETF front. Between November 22 and 27, Ethereum saw $224 million in net inflows against Bitcoin’s $35 million, which is unprecedented.

Solana Experiences Slight Rebound, Reclaims $243

Solana is among the few majors that managed to see a new all-time high during the November rally, slightly surpassing its 2021 peak and reaching $263. After a brief celebration, Solana retraced and found a bottom at $223 in the following weeks. This is where bulls stepped in and pushed the price higher. Today, Solana sells for $243 with a 3% intraday increase. 

One of the main drivers of Solana’s growth is its meme coin factory which has sent the market into a full-fledged euphoria and funneled tens of millions of revenue into Solana’s ecosystem. Of course, memes come and go, but for the time being, they rule the market and Solana is thriving because of that. In other news, numerous fund managers, including VanEck and Bitwise, have filed for approval with the SEC for a spot SOL ETF. The anticipated Solana ETF could see the light as early as Q3 2025 according to reports, although this timeline is not set in stone.

Why Lunex Network Could Be The Gamechanger DeFi Needs

Lunex Network is a Layer 1, DeFi protocol that connects individual blockchains including; Bitcoin, Ethereum, and Solana. Through its cutting-edge platform, investors can buy, sell, and swap over 50,000 different assets at near-instantaneous speeds and the lowest price possible. Simultaneously, they will have the opportunity to earn passive income via Lunex Network’s revolutionary revenue-sharing model.

With privacy and decentralization at the forefront of Lunex Network’s priorities, the platform implements a no-KYC policy and doesn’t require a third-party wallet like MetaMask or TrustWallet to get started. Investors can simply request the currency pair, input a receiving address, and confirm the transaction.

Lunex Network will offer a vast array of features for a 360-degree user experience: an exclusive DeFi wallet, a portfolio tracker for efficient asset management, and advanced trading perks that can be accessed via the subscription service Lunex Pro.

Institutional clients and businesses will have the opportunity to use a special, interoperable blockchain bridge for B2B payments. This will allow businesses to accept cryptocurrencies and have them automatically turned into fiat at the best rate available.

The presale of the native $LNEX token is live and demand is through the roof, as nearly $4 million has been raised in record time. $LNEX sells for just $0.0033, a perfect entry point for users as the price is expected to soar by at least 1,800% by the end of the presale alone.

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

Website: https://lunexnetwork.com 

Socials: https://linktr.ee/lunexnetwork

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Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.