The introduction of web 3.0 has boosted the traction around cryptocurrencies, and everyone is looking forward to the much-talked-about decentralized internet. Blockchain protocols like Decentraland and Snowfall Protocol (SNW) are leading the forefront for the evolution of the web and development of web 3.0.
Snowfall Protocol (SNW) is a cross-chain bridging ecosystem that is seeing a huge rise in demand. The metaverse buzz is back, with Decentraland hosting the Australian Open metaverse tennis tournament. Fortunately, the recent surge in price has helped their token’s value skyrocket past 70%. Read on to learn more about what is driving their price.
Decentraland MANA Skyrockets 70% in One Week, Here’s Why
Metaverse tokens, especially Decentraland (MANA), have been impressive since the beginning of 2023. Decentraland has recorded a bullish green candle close for up to 14 of 16 days. The ERC-20 native token of Decentraland has gained a whopping 70% in the last seven days after the Australian Open Grand Slam announced plans to host its first metaverse tennis tournament on the platform.
The Australian Open is a grand slam global tennis tournament that started on January 16th till the 29th. The tennis tournament partnered with Decentraland to host a first-of-its-kind unique sporting experience dubbed “AOMetaverse” for fans in the metaverse. With the partnership, Australian Open will offer limited edition generative NFTs, unprecedented virtual access, and electronic line calling technology-enabled NFTs for fans.
Following the news, Decentraland surged by 22% in its intraday price action and rose past $0.73. So far this year, the Decentraland token has gained 112%, and experts expect a bullish run if it retests and breaks a key resistance level. Other cryptocurrencies are seeing similar positive sentiments with notable rises. For instance, The Sandbox had 32%, while Gala Games had 30%.
Snowfall Protocol (SNW) Releases Prototype of DApp and DEX, Presale Raise Reaches $5 million
One of the most important developments in the blockchain and crypto space is the introduction of the Snowfall Protocol (SNW). Snowfall Protocol (SNW) is the first and the most efficient asset transfer ecosystem and bridging solution for fungible and non-fungible tokens. The protocol was built to enhance the seamless transfer of cryptographic assets between over 200 EVM and non-EVM compatible chains.
The goal of Snowfall Protocol (SNW) is to improve blockchain interoperability and chain-to-chain communication. It is unlike any other bridging solution as it features an all-new canonical token bridge and swap/wrap system for crypto assets and NFTs. It has raised the hope for a better, easier, secure, and more inclusive asset transfer and multi-chain compatible dApps.
Snowfall Protocol token (SNW) saw a huge surge in demand after a prototype of its working DEX and staking dApp was released. This important milestone increased the hype and frenzy around Snowfall Protocol’s innovation as investors and experts confirmed its game-changing innovation. Snowfall Protocol token (SNW) is currently selling fast in presale for $0.191. The token has gained more than 800% in price since launch, and experts are sure it may increase by 1000x in the next bull run.
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