The crypto market has been on an upward trajectory since the start of 2023. While this is good news for crypto investors, they should tread carefully. Just because a coin is doing well today does not translate to handsome returns later. Here are the three top-performing currencies for today: Solana, Aptos, and Snowfall Protocol (SNW). But, what kind of short-term returns can you expect from them? Let’s find out.
Solana (SOL) Was on a Bull Run
Solana has been one of the best-performing coins since the start of 2023. In January alone, the coin saw more than 100% growth. However, as the market dropped slightly, Solana started on a downward trajectory.
Many crypto experts believe that Solana is not a stable asset to invest in right now. It is still in the shadows of the FTX crash. Solana derived a part of its value from the interest of Sam Bankman-Fried, founder and CEO of FTX. In fact, the FTX balance sheet also carried millions of dollars of Solana. He left no stone unturned to promote Solana and pit it as a competitor to Ethereum. Sam Bankman-Fried co-founded Alameda Research, which was the biggest backer of Solana. The large exposure of Solana saw its price fall out of the sky when FTX declared bankruptcy.
Experts believe that Solana’s price might go into another free fall after the bull run it has recently experienced ends.
The Whales Are Pumping Aptos (APT)
Aptos is developed by former Meta employees. It has been built to support dApps and NFTs. In the last few weeks, Aptos has experienced a price increase of 250%. However, Twitter has been abuzz with skepticism about the recent price increase in Aptos.
Some analysts have attributed the jump in Aptos prices to its newly found popularity in Asia. However, analysts believe that the rally in Aptos price results from market manipulation. Many VC-funded coins have seen a price jump due to pumping. Aptos is also heavily VC-funded. So, it is highly likely that the price pump may be due to whales driving the coin’s price up artificially.
Full Potential of Snowfall Protocol (SNW)
Snowfall Protocol (SNW) is the latest interoperability project in the market. It has created a lot of positive sentiment among crypto investors with its strong use case and clear vision. Snowfall Protocol (SNW) conducted a successful presale at the height of the crypto winter. It didn’t just survive; it delivered high ROI for its investors. It repeated the success story in subsequent Stage 2 and Stage 3 sale events. The demand for Snowfall Protocol (SNW) has been high from Day 1 of presale and continues to be so.
Experts predict that Snowfall Protocol (SNW) will continue to create more gains for its investors in the order of 1000% in the weeks following its launch in February. Its developers have already published a prototype dAppand the coin is generating staking gains for its existing investors. So, Snowfall Protocol (SNW) is here to stay with a strong community backing it.
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