A lot has been happening recently in the crypto space. The year 2023 came with positive sentiment for many projects as Solana (SOL) recovered from the FTX collapse. Bitcoin (BTC) is leading the forefront with gains, and new projects like Snowfall Protocol (SNW) are following its lead with humongous gains.
The Snowfall Protocol (SNW) has recorded remarkable growth and milestones that have exceeded every investor’s expectations. Snowfall Protocol (SNW) is already shaking up the crypto space with its disruptive bridging solution. Read on to learn more.
Solana (SOL) has gained significant momentum with the recent hype around crypto investment, with its on-chain activities surging in recent weeks since the FTX exchange drama. The layer one blockchain is trading above $25 after rising to a two-month high. Initially, many people thought Solana (SOL) was dead. Even a prominent NFT project on Solana (SOL), DeGods, and y00ts bridge to Polygon (MATIC) because its value was plummeting heavily.
In the wake of the crypto winter, Solana (SOL) had lost 97%of its value – crashing from $260 to only $8. Fortunately, Solana (SOL) is making a magical recovery after the whole fiasco that took down the FTX exchange. According to Messari, Solana (SOL)’s transaction volume and user activities are spiking and have leveled back to pre-FTX days. Price data indicates that Solana (SOL) has gained 152% this year – it is now trading at $25.16 with a market cap of $9.4 billion.
Unlike Solana (SOL), almost everyone took Bitcoin (BTC)’s downtrend as a replay of historical price movement. Despite the crypto winter, Bitcoin (BTC) stood tall and maintained its position as the top cryptocurrency by market cap. Following the FTX collapse, Bitcoin (BTC) lost its grip above $22,000 and fell below $16,000.
Like Solana (SOL), the start of 2023 marks the beginning of positive sentiments for Bitcoin (BTC). Recently, Elon Musk expressed his support for Bitcoin (BTC) to be used as a payment option on Twitter. The state of New York also approved a bill to consider crypto payment with Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC). So far – Bitcoin (BTC) has gained 45% this year, with the price exceeding $24,000 amid a bull takeover.
Snowfall Protocol (SNW) is an interoperability project that serves as a cross-chain highway – a road between different blockchain networks. The protocol is important because it guarantees indomitable interoperability while enhancing flexibility which are much-needed features of blockchain technology.
Although blockchain is plagued with the issue of technical barriers between chains – Snowfall Protocol (SNW) acts like a bridge to enable users, developers, and institutions to send and receive data and funds securely and hassle-free. It supports over 200 EVM-compatible and non-EVM chains with its canonical token bridge and swap/wrap system for both cryptocurrencies and non-fungible tokens.
Snowfall Protocol (SNW) can potentially improve the functionality of Solana (SOL) and other smart contract-enabled chains. Therefore, it’s easy to see why investors from these networks actively flock to the Snowfall Protocol (SNW). The token powers all economic activities within the Snowfall Protocol – especially the transfer of assets, governance decisions, and staking.
Snowfall Protocol (SNW) is now available on open markets, and it has been nothing but a resounding success. The token performed beyond expectations with its multiple triple-digit gains in its price.
get in while you can and invest in Snowfall Protocol (SNW) today!!!
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