Maker

bullish

Internet Computer

Bitcoin

DeFi

<p>As Bitcoin spot ETFs experience their most substantial inflow since early summer, the market spotlight returns to the cryptocurrency space, buoyed by renewed institutional interest. Amid this surge, a new Ethereum-based utility token, Lunex Network, is capturing the attention of investors looking beyond traditional assets for high-growth opportunities. Here’s why Bitcoin and Lunex Network are both doing stellar, even as tokens like Internet Computer (ICP) lag.</p>
<h2 class="wp-block-heading" id="bitcoin-spot-etfs-set-new-inflow-record-as-demand-surges">Bitcoin spot ETFs set new inflow record as demand surges</h2>
<p>In a strong show of investor confidence, U.S.-based Bitcoin spot ETFs witnessed $555.9 million in inflows on October 14—the largest single-day inflow since June. This impressive spike came as Bitcoin reclaimed its upward momentum, breaking the $65,000 mark and hitting an intraday peak of $66,500. Leading the charge, Farside’s FBTC saw a $239.25 million inflow, its highest increase since June 4.</p>
<p>The total trading volume across all 12 Bitcoin ETFs surged to $2.61 billion, indicating heightened market interest in Bitcoin’s price trajectory. Bloomberg’s senior ETF analyst, Eric Balchunas, pointed out Bitcoin spot ETFs’ consistent demand, noting that they’ve seen record highs in net inflows five times since their January launch.</p>
<h2 class="wp-block-heading" id="internet-computer-struggles-to-keep-up-with-market-momentum">Internet Computer struggles to keep up with market momentum</h2>
<p>While Bitcoin ETFs soar, Internet Computer (ICP) faces a more challenging situation. ICP encountered difficulty maintaining user engagement and struggled with network scaling issues. The token’s price has dropped from its all-time high of $750 to around $3, underscoring a significant disconnect between initial expectations and current performance. Analysts attribute ICP’s lag to stiff competition in the Web3 sector, where Ethereum and newer projects like Lunex Network have consistently outpaced it.</p>
<p>Despite some efforts to introduce new functionalities, ICP’s growth has remained stagnant, prompting many investors to pivot to tokens with more immediate, tangible utility.</p>
<h2 class="wp-block-heading" id="lunex-network-emerges-as-the-new-utility-token-of-choice">Lunex Network emerges as the new utility token of choice</h2>
<p>Enter Lunex Network—a utility-focused altcoin that’s quickly gaining traction as a viable alternative for investors seeking both growth and utility. Currently priced at $0.0015 in its third presale phase, Lunex has already achieved significant milestones, with approximately 22% of all tokens sold. The presale has raised $833,202.82 to date, with 655,478,658 tokens purchased by eager investors.</p>
<p>Built on Ethereum, Lunex combines DeFi innovation with accessibility, making it an attractive option in today’s volatile market. Offering seamless integration with over 50,000 currency pairs, Lunex emphasizes low-fee, secure crypto trading through its Automated Market Maker (AMM) model.</p>
<p>Unlike ICP, Lunex’s appeal lies in its straightforward approach, eliminating high transaction fees and long delays often associated with traditional platforms. For investors moving away from speculative meme coins, Lunex’s utility-driven model aligns well with market demand. Its deflationary structure, backed by routine token buybacks and staking rewards up to 18% APY, fosters price stability and incentivizes long-term holding.</p>
<h2 class="wp-block-heading" id="bitcoin-and-lunex-poised-for-growth-as-demand-shifts">Bitcoin and Lunex poised for growth as demand shifts</h2>
<p>As institutional interest in Bitcoin spot ETFs surges, alternative assets like Lunex Network are providing a compelling investment case for those looking to diversify. Bitcoin’s current rally, supported by positive funding rates and a bullish 25-delta skew, has analysts forecasting further price hikes if key resistance levels hold. Meanwhile, Lunex’s presale pricing offers an entry point with high upside potential, making it an ideal choice for those seeking a blend of stability and growth.</p>
<p><strong>You can find more information about Lunex Network (LNEX) here:</strong></p>
<p><strong>Website: </strong><a href="https://lunexnetwork.com/" rel="noopener noreferrer nofollow" target="_blank">https://lunexnetwork.com</a><br><strong>Socials: </strong><a href="https://linktr.ee/lunexnetwork" rel="noopener noreferrer nofollow" target="_blank">https://linktr.ee/lunexnetwork</a></p>

Biggest inflow for Bitcoin ETFs in over four months, ICP struggles while investors flock to new utility token

Table of Contents

The Bit Journal

Other articles published on Oct 19, 2024

Why Is the Crypto Market Up Today?

Goodbye Biden (BYEBIDEN) Solana Memecoin to Explode 19,000% Before Exchange Listings, While Shiba...

5 Exciting Altcoins to Add to Your Portfolio Now to Surpass XRP

Will Bitcoin Break Past $75K by Month End?

Ecrox Chain Co-Founder: Ritishree Sahu’s Journey to the Top of the Blockchain World

Eighteen Individuals and Entities Charged in Massive Fraud and Crypto Market Manipulation

Join our free newsletter for daily crypto updates!