The cryptocurrency market seems to be slowly recovering from a bearish year. Tokens such as Polygon (MATIC) and Polkadot (DOT) have shown dramatic shifts in their prices, following some development activities. However, one cryptocurrency that is shooting ahead of these tokens is Snowfall Protocol (SNW). Though it is a new cryptocurrency, it has already given major benefits to holders. In this article, we’re going to discuss the current status of Polkadot (DOT), Polygon (MATIC), and Snowfall Protocol, and why SNW is performing better.
Polygon (MATIC) shows temporary price growth after ZK rollup announcement
Polygon (MATIC), an Ethereum layer-2 scaling protocol, is now conducting ZK-Rollups performance tests in preparation for integrating the technology into the mainnet. After more than three years of work, the Polygon (MATIC) Hermez team is ready to release their zkEVM. David Schwartz, founder and CEO of Polygon (MATIC), asserts he has demonstrated ZK proofs’ viability on Ethereum. ZK rollups are now essential for isolating Ethereum transactions from the main chain, which is necessary for long-term scalability, as per Polygon’s development team. Polygon (MATIC) claims that the zkProver in Polygon zkEVM is the first fully open-source Ethereum Virtual Machine (EVM) counterpart, and it passes all Ethereum vector tests with a success rate of over 99%. However, only time will tell if Polygon (MATIC) succeeds in its mission to be fully adapted by Ethereum and grow in terms of prices. For now, Polygon (MATIC) price graph shows a steep increase of over 22% in a single day. However, crypto experts claim that such price increases are temporary and Polygon (MATIC) will fall back soon.
Polkadot (DOT) declines by over 79%
Astar Network, an innovation hub for smart contracts that bridges the Polkadot (DOT) ecosystem to all Layer 1 blockchain, has released its Cross-Virtual Machine (XVM) on the Shibuya public testnet. As a result of XVM, distributed applications now have easy access to cross-smart-contract-environment communications mechanisms, such as those between Polkadot (DOT) and Ethereum. Polkadot’s (DOT) flagship parachain, Astar, has recently secured another partnership with DeFi network, Acala, increasing the pace of development. Polkadot’s (DOT) current price is $5.98, which is 78.98% below its price at the start of last year. According to expert price projections, the value of Polkadot (DOT) could fall to as low as $3.45 in March 2023. They also predict that 2023 would be a challenging one for Polkadot (DOT) and investors must be cautious about investing. Polkadot (DOT) has also dropped from its all-time high of $55.00 by an enormous 89.12%.
Snowfall Protocol (SNW) grows from $0.095 to $0.182
As a cutting-edge cryptocurrency, Snowfall Protocol (SNW) strives to offer its users extremely impressive and sophisticated features. The fundamental function of Snowfall Protocol (SNW) is to facilitate the exchange of data and transactions between different blockchains. Without the requirement for third-party intermediaries, Snowfall Protocol (SNW) enables asset transfers between EVM-compatible and non-EVM-compatible networks. Though the entire cryptocurrency market was hit hard by the crypto winter, Snowfall Protocol (SNW) hasn’t failed to gain massive profits. Experts believe that Snowfall Protocol (SNW), which recently raised $3 million from its first two presale phases, is the perfect investment for 2023. Snowfall Protocol (SNW) started out with a price of $0.005, and has grown massively to its current price of $0.182.
get in while you can and invest in Snowfall Protocol (SNW) today!!!
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.