With the constant fluctuations in the cryptocurrency market, investors need to make smarter decisions for future-proofing their investments. Choosing the most suitable token to add to one’s portfolio can be difficult, especially when investors have to choose from popular tokens like Solana (SOL), Avalanche (AVAX), and Snowfall Protocol (SNW). While still new in the market, Snowfall Protocol has gained massive traction, causing crypto enthusiasts to shift from Solana (SOL) and Avalanche (AVAX) to SNW. So, which token should investors go for? Read ahead to find out as we discuss their latest developments and price movements.
Solana (SOL) price surges but still remains far below its all-time high
According to a report published by Citi Research on Thursday, the volume of transactions on the Solana (SOL) blockchain has not declined despite 50 million tokens being stuck in the Chapter 11 proceedings of the crypto exchange FTX. According to the analysis, this has drastically increased the level of doubt surrounding the future of Solana (SOL). Citi claims engineers have maintained blockchain activity by airdropping Bonk tokens to Solana (SOL) holders last week. Free Bonk tokens were distributed to Solana (SOL) users’ wallet addresses to encourage its widespread use. Investors have started losing confidence in the cryptocurrency, especially after Solana’s (SOL) biggest NFT collection, DeGods, left the chain last month due to uncertainty about the network’s future. This has forced Solana’s (SOL) team to offer incentives to users and developers. Despite an amazing 74.62% increase over the previous week, the price of Solana (SOL) is almost 90% below its all-time high. Solana (SOL) is currently trading at $23.22.
Avalanche (AVAX) drops by 82% from last year
As reported in the company’s most recent quarterly report, Grayscale plans to rebalance its holdings by the fourth quarter of 2022. To accomplish this rebalancing, Grayscale liquidated some of the Digital Large Cap Fund’s holdings, including the Avalanche Network’s token, AVAX. After Grayscale Digital Large Cap Fund liquidated its holdings in Avalanche (AVAX) last week, the token’s value dropped by about 2%. Grayscale recently submitted a filing to the SEC outlining the portfolio rebalancing and indicating that it was conducted by selling Avalanche (AVAX) and reinvesting the profits in the existing fund components in accordance with their respective weightings. Avalanche’s (AVAX) token price increased by 20% in the last 30 days. Avalanche (AVAX) reached $18.58 this week after the price surge. However, the 24-hour price charts showed a decline in Avalanche’s (AVAX) current value, causing it to reach $16.71.
Snowfall Protocol (SNW) to launch in February 2023
With its release this year, Snowfall Protocol (SNW) aims to address a major challenge that has repeatedly limited the scalability of the cryptocurrency sector. Snowfall Protocol (SNW) broadens the scope of what’s possible in terms of interoperability. Snowfall Protocol (SNW) allows non-fungible tokens and coins to be bridged along with their fungible counterparts.
The goal of Snowfall Protocol (SNW) is to create a cross-chain bridge that will allow for the safe transfer of all kinds of assets between different blockchains, both EVM-compatible and non-EVM-compatible, in the cryptocurrency market. Over 200 million Snowfall Protocol (SNW) tokens have been sold during the presale phases of Snowfall Protocol’s token sale. The third phase of the presale is currently underway, with Snowfall Protocol’s (SNW) price at $0.182, a dramatic increase from this phase’s opening price of $0.075. The third presale’s tokens are also expected to sell out well before the official closing date of February 3rd, but there is still time to join in on the action and make some serious profits.
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
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