Injective (INJ) Network has officially launched its long awaited upgrade which is set to improve its burn mechanism. The latest network upgrade dubbed Injective 3.0 marks a shift from the previously adopted burn auction, and ultimately aims to boost Injective deflation by a shocking 400%.
Meanwhile, this latest move allows Injective to join the list of other top altcoins like Litecoin (LTC) and presale star Lunex Network (LNEX) who also use the scarcity concept to generate sustainable value growth by permanently removing tokens from circulation. Lunex Network particularly adopts a unique approach to create natural buying pressure, which helps maintain a stable floor price for LNEX. But there is even more to its innovative prowess.
Lunex Network Is Redefining DEX Marketplace With Institutional-Grade Features
Lunex Network (LNEX) is slowly becoming a force to be reckoned with in the decentralized exchange market even as it progresses through its presale campaign, thanks to its ability in helping users swap and transfer over 50,000 crypto assets instantly and completely anonymously.
The DeFi protocol essentially connects isolated blockchains in order to establish a non custodial crypto exchange which helps users facilitate speedy crypto transactions across multiple blockchains at the lowest costs. While its major allure lies in its fully anonymous, non-custodial, and KYC-free network, Lunex Network also adopts a unique revenue-sharing model which sets it apart from other exchanges.
Notably, part of the profits generated from the exchange goes towards buying the native $LNEX tokens in the open market, and is subsequently redistributed among token holders. By staking LNEX tokens, holders enjoy up to 18% APY in passive income and also benefit from its buyback and burn deflationary mechanism which automatically drives the price of LNEX tokens.
Furthermore, Lunex Network offers institutional services, including providing a non-custodial (B2B) payment gateway for global businesses. By integrating the Linux API keys, businesses can easily add crypto payment methods. Meanwhile, the LNEX token, being the lifeblood of the Lunex Network, facilitates activities like staking, and cross-border payment settlement. While it is now priced at $0.0013 in the second presale phase, LNEX price is expected to surge by 18x once launched.
Injective Price Faces Noticeable Decline Despite New Network Upgrade
Despite the hype surrounding the latest Injective (INJ) network upgrade, the native INJ token is yet to witness any drastic price movement. Although this is the typical expectation for most cryptocurrency when they make any special announcement, INJ price is witnessing a noticeable decline in its price, dipping by nearly 17% in the past week.
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While the effect of the latest upgrade is a progressive one, analysts are predicting a turn of events for the blockchain network as soon as the deflationary process kicks off fully. Regardless, the Injective token’s year-to-date price chart reflects a positive outlook with over 150% gain, which contributes to investors’ growing optimism in the token.
Litecoin Token Loses its Top 20 Spot Amidst Declining Price Trend
Litecoin (LTC) has finally been relegated to the 21st position on the crypto ranking list following a series of Litecoin price fluctuations that robbed the cryptocurrency of all its year-to-date gains. Notably, the native LTC token traded as high as $109 back in March, up by over 40% from its opening price of $64 in January.
However, due to enormous volatility, Litcoin lost all these gains, and has even fallen below its yearly opening price. Currently trading within a weekly price range of $67 and $62, Litecoin price reflects nearly 7% decline in the past week and roughly 5% in the past month. This progressive decline in Litecoin price has pushed investors to seek refuge in promising presale stars like Lunex network.
Can Lunex Network Outshine Injective in terms of Deflation Mechanism?
Unlike Injective lower on-chain parameters by the virtue of limiting the minting of new INJ tokens, Lunex seeks to channel its own deflationary effort towards the acquisition of native tokens from the open market. While most of these tokens are burned permanently, a portion of it is redistributed as rewards among token holders, thus making it a more lucrative venture for all stakeholders.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
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