Solana, Stacks, and Snowfall Protocol (SNW)have all been in the news for both good and bad reasons. The three cryptocurrencies have different utilities and have responded to their macroenvironment differently. They have either completely faltered or stood against the bearish tides to come out as champions.
Let’s find out the most robust crypto among the three contenders to find a winner for you to invest in.
Solana (SOL)
Solana (SOL) has created a name for itself in the crypto universe with a respectable investor base. Solana (SOL) presented itself as a better version of Ethereum, which processed transactions quickly, more affordably, and promised reliability. However, Solana (SOL) has been troubled with multiple outages on its platform after its launch. Even as Solana (SOL) is beleaguered with outages, Ethereum has successfully upgraded into a nimbler and faster platform.
Another major problem that hit Solana (SOL) this year was the crash of the FTX crypto exchange. Sam Bankman-Fried, the owner of FTX, was among the biggest supporters of Solana. In fact, FTX held around $980 million worth of Solana. So, the FTX crash slashed Solana’s value by more than half.
Solana (SOL) has been a popular cryptocurrency. However, one blow after another has dented the brand equity of Solana (SOL). It is now up to the developers to offer its users more value to revive Solana (SOL).
Stacks (STX)
Stacks (STX) is a layer 2 cryptocurrency built on Bitcoin. Stacks (STX) makes use of smart contracts to reward miners for their contributions. Stacks (STX) does not offer a unique use case. It is a transactional cryptocurrency that you can earn by offering resources to support the blockchain network. Stacks (STX) also offers staking opportunities to its users. The price of Stacks (STX) usually moves up in a bull market. However, in the bear market, the performance of Stacks (STX) has been quite disappointing.
The absence of any use case makes Stacks (STX) a largely speculative cryptocurrency. For the same reason, Stacks (STX) is also highly exposed to competition. For traders, at least, there is no discernible difference between Stacks (STX) and any other transactional cryptocurrency. So, Stacks (STX) is a highly risky crypto to be in your portfolio.
Snowfall Protocol (SNW)
Snowfall Protocol (SNW) is a new cryptocurrency offering a unique use case. It is an interoperability project. In the simplest terms, Snowfall Protocol (SNW) offers a fast-moving highway for its users to move their crypto assets, including holdings and NFTs, from one blockchain to another. By doing so, Snowfall Protocol (SNW) makes it highly convenient for its users to own crypto assets.
The value of Snowfall Protocol (SNW) has soared since its presale a couple of months ago. Even after the FTX collapse, Snowfall Protocol (SNW) continues to create value for its investors. Experts predict that Snowfall Protocol (SNW) will grow to achieve 4-figure growth after its upcoming launch on January 3, 2023. Snowfall Protocol (SNW) is trading at $0.14, which is highly affordable for investors who still want to invest in the utility-driven cryptocurrency.
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin
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