Cosmos (ATOM) Plunges 8%, Polkadot (DOT) Drops 15%, While Snowfall Protocol (SNW) Gains 400%
The crypto market is a highly volatile and unpredictable sector. Despite this, many investors are drawn to the idea of making a quick buck by investing in digital assets. While there are a number of different protocols vying for attention, Snowfall Protocol (SNW) is quickly gaining ground as a top choice for those looking to invest in the crypto space. Below we compare Snowfall Protocol (SNW) with two of its biggest competitors, Cosmos (ATOM) and Polkadot (DOT), to see why it is a better investment option.
Cosmos’ ATOM 2.0 proposal rejection leads to losses
It’s been a tough week for Cosmos (ATOM). The price of Cosmos (ATOM) tokens has plunged unexpectedly in the last few days, showing no signs of recovery. There are a few possible explanations for Cosmos’ (ATOM) decline. First, investors could be losing confidence in the Cosmos (ATOM) project. Recently, a big number of Cosmos Hub users voted on a proposal to oversee the rollout of ATOM 2.0. There was overwhelming support for the changes outlined in this proposal, but Cosmos (ATOM) ultimately failed to pass. Cosmos’ (ATOM) delays in the rollout of new features could be causing some investors to lose faith. Within the past week, the value of Cosmos (ATOM) has decreased by 8.96%. The price of Cosmos (ATOM) has also dropped by 80% from its all-time high. Moreover, there have been concerns about Cosmos’ (ATOM) ability to scale, resulting in analysts suggesting that investors should look for better currencies.
Polkadot (DOT) reaches all-time lows
After soaring in November 2021, Polkadot (DOT) has been on a downward trend this year, with a 91.85% drop in value from its all-time high to the present. Tokens like Polkadot (DOT) have taken a major hit due to the market-wide effects of the recent crypto meltdown, which was precipitated by the FTX (FTT) exchange’s collapse. Polkadot (DOT) hit a 52-week low of $5.01 on November 22, after the exchange declared bankruptcy. Furthermore, as of this writing, Polkadot (DOT) was worth $4.48. The social volume of Polkadot (DOT) has also collapsed, which may signal the beginning of a more severe bear market. Polkadot’s (DOT) social media activity has declined noticeably during the past few days, which led to a price drop of 2.39% in just 24 hours. When compared to a month ago, Polkadot’s (DOT) social metrics have made the token drop by 12.6%.
Snowfall Protocol (SNW) goes from $0.005 to $0.14
With the massive success that Snowfall Protocol (SNW) has been receiving over the past few months, it is all set to release its dApp prototype. Snowfall Protocol (SNW) dApp allows users to send and receive tokens between their wallets on multiple blockchains safely and quickly. Additionally, Snowfall Protocol (SNW) also features smart contract capabilities that enable token swaps and other services that require exchanging tokens. Snowfall Protocol (SNW) aims at being the only platform that investors need for asset transfer without requiring a trusted third party or intermediary. Snowfall Protocol’s (SNW) dApp functionalities have helped it raise $3 million in just 2 months of the presale. The current and final presale round of Snowfall Protocol (SNW) is expected to be even more successful than the previous ones. In less than two weeks, Snowfall Protocol (SNW) sold more than half of this round’s tokens. Thus, the value of Snowfall Protocol (SNW) has increased from $0.095 to $0.14 in the past week, and more is expected ahead of its launch in January.
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin
Text source: DailyCoin.com
