The crypto market is no stranger to volatility. In the past year, we’ve seen prices skyrocket and then come crashing down.
While this can be frustrating for investors, it also presents opportunities for those who are quick to act. Snowfall Protocol (SNW) is a new entrant into the world of cryptocurrency, and is already making waves. The protocol offers a number of advantages over its competitors, including Curve Dao (CRV) and Hedera (HBAR). In this article, we’ll discuss what those are and why investors are moving away from the other tokens.
Curve Dao’s (CRV) 17 million token short leads to price declines
Curve Dao (CRV) stands out from other decentralised exchanges because it only deals in stablecoins and wrapped cryptocurrencies. Since the beginning of the year, the Curve Dao (CRV) token has fallen dramatically after previously recording a significant increase. Despite recovering from its initial drop following its launch, Curve Dao (CRV) has not returned to its previous high point. On November 4th, Curve Dao (CRV) hit a high of $1.06 but has since fallen back.
The low price of the Curve Dao (CRV) token was $0.40 on November 22. The token has recovered slightly since, pushing CRV to a price of $0.62, at the time of writing. Curve Dao (CRV) price is up 50% in the previous 24 hours but down 30% over the previous month.
An alleged “coordinated attack” on the CRV cryptocurrency has surfaced in recent days. A user whose actions are alleged to involve a short of 17 million Curve Dao (CRV) has garnered attention from crypto enthusiasts, which could be leading to price declines.
Hedera (HBAR) in a downward 2022 spiral
The Hedera (HBAR) price hit a new all-time low of $0.07503 in May, after dropping to $0.1927 in April 2022. The key reasons for Hedera’s (HBAR) decline at the time were the depegging of the UST stablecoin and the collapse of the linked LUNA crypto.
These events rattled the market, sending Hedera (HBAR) prices tumbling. Although prices bounced back somewhat afterward, Hedera’s (HBAR) bear market was confirmed in June when word broke that Celsius Network (CEL), a cryptocurrency lending platform, had suspended withdrawals.
After the FTX (FTT) exchange’s failure caused a market crash, Hedera’s (HBAR) price dropped to its current level of $0.0428 on November 9th. In the medium term, experts’ predictions for the price of Hedera (HBAR) are bearish. By December 24, 2022, Hedera (HBAR) could drop to $0.039037, according to reports.
Investors are flocking to Snowfall Protocol (SNW), a blockchain solution that focuses on supporting many chains at once. Surpassing the expectations of both bulls and bears, Snowfall Protocol (SNW) saw its value soar by 600% over the course of two months.
Snowfall Protocol’s (SNW) price has increased exponentially from $0.025, at the beginning of the second round of presale, to $0.060 at the token’s current market value. The third round of Snowfall Protocol’s (SNW) presale is projected to see a 250% increase in price, which is now trading at $0.095. In the first phase, 95 million Snowfall Protocol (SNW) tokens were bought.
The second phase sold over 100 million tokens, even before the final deadline. Snowfall Protocol’s (SNW) price is expected to climb further by over 5000% by the time of launch. It’s not too late to invest in Snowfall Protocol (SNW) and reap benefits as the third presale phase starts soon.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
|Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.|