Crypto markets have been in a slump for the past few months, with prices falling across the board. However, one project that has bucked the trend is Snowfall Protocol (SNW), which has seen its price increase from $0.005 to $0.095 in just a few months. So what is Snowfall Protocol (SNW) and what makes it better than other projects in the space, such as Chiliz (CHZ) and Axie Infinity (AXS)?
Chiliz (CHZ) plummets despite World Cup associations
In the realm of customer-focused blockchain-backed goods and services, Chiliz (CHZ) was considered to be the optimum currency. Chiliz (CHZ) equips sports leagues and teams with blockchain-based resources for increased participation and revenue generation. However, despite Chiliz’s (CHZ) interesting features, the price of the token fell nearly 15% to the $0.15 level. Before Qatar hosted the 2022 World Cup, Chiliz (CHZ) had a brewing price war. Furthermore, post the struggle caused due to the aftermath of the FTX crash, Chiliz (CHZ), seemed to have recovered well with its blockchain and fintech offering for sports and entertainment tokens. The price of Chiliz (CHZ) went on an upward trend since it broke through a key support level at $0.145. Nonetheless, this week, Chiliz (CHZ) has lost more than 8% of its value.
Axie Infinity (AXS) fails to combat descending trends
Sky Mavis’ blockchain-based play-to-earn game, Axie Infinity, uses the AXS token as its native currency. Since hitting a high of $166.09 in November 2021, the price of Axie Infinity (AXS) has been steadily declining. The price dropped to Axie Infinity’s (AXS) all-time low of $5.74 in November 2022. A long-term horizontal support area of Axie Infinity (AXS) around $9.50 was broken as a result of the drop. This is a bearish indicator that suggests that the downward trend may speed up for Axie Infinity (AXS) and continue in the coming months. The rate of Axie Infinity’s (AXS) growth picked up steam on December 5th, which may have been influenced by slight bullishness of the market. Additionally, an update to the Axie Core by Axie Infinity (AXS) cryptocurrency wallet also led to the price change. As a result, an attempt was made to break above a descending pattern that had been in place since the beginning of May for Axie Infinity (AXS). However, the attempt was ultimately unsuccessful.
Snowfall Protocol (SNW) rises over 300% in 2 months
Snowfall Protocol (SNW) is still in the early stages of its sales cycle, but has the technical potential to become very lucrative. With its improved usability and algorithmic safeguards, Snowfall (SNW) aims to be a token that can stand up to market fluctuations better than its predecessors. There are a number of reasons why Snowfall Protocol (SNW) is a good investment. Snowfall Protocol (SNW) allows users to make money off of their transactions without third-party intermediaries and eliminates the need for high transaction fees that users are currently expected to pay. Even with a small initial investment of tokens, it can help users build a steady passive income stream with Snowfall Protocol’s (SNW) staking option. Snowfall Protocol (SNW) is the highest-yielding and most cost-effective multi-chain staking platform built on Defi. At present, the price of Snowfall Protocol (SNW) has gone up from its initial expected price of $0.005 to $0.095. Furthermore, an increase of over 5000% is expected in the coming months for Snowfall Protocol (SNW).
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