Risk management is an essential part of trading. Despite the steady volatility and price fluctuations, making informed decisions is key to successful crypto trading. This is because there are many assets to invest in.
The market is bearish, and crypto asset value has nosedived. Still, Snowfall Protocol (SNW), a brand-new bridging solution, is gaining traction and has raised million in presale investment. What makes the Snowfall Protocol (SNW) different from existing projects like Aptos and Ethereum? Read on to learn more about Snowfall Protocol and why investors are flocking the project.
Ethereum Lose More than 70,000 Weekly Users
Ethereum is the most popular decentralized, open-source smart contract-compatible chain. However, hopes that Ethereum ($ETH) will rise from its lows have been dashed even after its famous merge from Proof of Work (PoW) to the Proof of Stake (PoS) consensus mechanism.
Before the merge, Ethereum was trading modestly at $1,500 to $1,700. However, the coin has recorded more than a 25% price drop since the merge, thanks to the FTX collapse. According to Nansen, a blockchain analytical platform, Ethereum has lost up to 70,000 weekly users.
Ethereum is still bearish, and the trading volume has gone down by more than 4.3%. Investors are packing their assets into more important projects like the Snowfall Protocol (SNW). Understandably, the protocol offers next-level features that make it undoubtedly fit for long-term investment.
Aptos Hovering Around Key Support
Dubbed the Doge Killer, Aptos is another important addition to the list of blockchain networks. The new chains boast better smart contract capabilities, scalable features, and ease of use. Aptos recorded a reduced user activity compared to last year’s sentiments around its token is still unknown.
Aptos token started trading around $10 but lost almost 70% of its value in just two months. This gave many investors and users mixed feelings about the protocol’s long-term viability. Currently, the token is trading at $5.2, and experts think its price may bounce back up after the integration of newer developments. Additionally, market retracement can help Aptos gain momentum to go back higher.
Snowfall Protocol (SNW): Investors Flock New Cross-chain Bridging Solution
Without a doubt, Snowfall Protocol (SNW) has made an impressive debut, and many protocols are already losing their investors to it. In fact, it’s ongoing presale is one of the most successful ones in a very long time. In just a few days, Snowfall Protocol (SNW) has recorded $4 million in token sales with terrible demand.
The success of the Snowfall Protocol (SNW) indicates the need for innovative projects that can bring staggering changes to blockchain technology. The protocol is a decentralized asset transfer ecosystem for cross-chain interaction. The main objective of Snowfall Protocol is to improve interoperability across crypto space.
The protocol serves as a highway for blockchain users to seamlessly move their assets to and from more than 200 chains. it has a canonical token bridge for fungible tokens, a feature that is incredibly useful for crypto asset transfer around EVM-compatible and non-EVM networks. It also provides the first Swap and Wrap bridge for users to move their non-fungible tokens.
The need for a Snowfall Protocol (SNW) and its mind-blowing features in promoting interoperability and flexible asset usage can be seen in the traction, demand, and price momentum it is gaining. The positive sentiments its token received are also evident in its presale stages.
Snowfall Protocol (SNW) presale is open to everyone. The price is $0.182 in the ongoing fourth presale stage. Analysts think the price will go up by 1000x; therefore, the best time to buy the token is now when it is still underpriced.
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