LCX is currently trading at $0.06533, with a rise of approximately 18.83% in the last 24 hours. This also makes up for an increase of 44.90% in the last seven days, or one week. The hike in the valuation of the token has caught the attention of a large number of crypto enthusiasts, who are now wondering if LCX will end the year by being closer to its ATH (all-time high).
The ATH of LCX is reportedly $0.70. This is a far-fetched dream for many investors and holders, but they are bullish nonetheless. What has fueled their optimism is the fact that many users are shifting their attention from Binance to LCX.
Binance recently saw Changpeng Zhao resign from his position as CEO. While CZ has said that this was to prioritize taking a much-needed break from work, reports surfacing claim that his decision to step down from the chair could have been due to the charges of Anti-Money Laundering. For better reference, CZ has pleaded guilty and agreed to pay a personal penalty of $50 million.
That incident alone has accelerated the downfall of BNB. At the time of writing this article, the drop was 7.61% in the last 7 days. However, the community lacks confidence in BNB’s near future despite its increased value of 0.44% in the last 24 hours, with BNB being traded at $235.20. The management team of Binance has said that they are resolving with the US regulatory authorities, following which they will be back on track to achieving growth over the next 50 years.
Another factor that is assisting LCX in hopefully inching closer to its ATH is Bittrex Global announcing the closure of its operations effective December 4, 2023. LCX has recommended customers immediately liquidate their holdings and refrain from depositing tokens anymore, as deposits made could get lost in the system with no possibility of recovery.
The SEC had alleged the crypto trading firm of operating a national securities exchange without prior approval. They have reached a settlement worth $24 million, but that has come at the cost of putting down the shutter. Both cases combined are likely to work in favor of LCX. An alternative estimate suggests that LCX could close its book for the year at just $0.296, while the token is projected to reach its ATH in the next month. Needless to say, this is based on the assumption that LCX continues to shine in the market.
Other factors that could contribute to the rise of LCX are inflation and economic instability. Also, there is a rise in the demand for secure and decentralized currencies.
The next two years will be crucial for LCX. Experts have laid down an estimate, showing the token surpasses the mark of $0.6 if the momentum keeps up.