The year 2022 was difficult for crypto investors. However, with the start of the new year, the future appears more promising, especially in light of the upcoming launch of tokens such as Snowfall Protocol (SNW). As for existing tokens like Chainlink (LINK) and Polkadot (DOT), the future looks unpredictable, despite recent developments. So what is it about Snowfall Protocol (SNW) that makes it a better long-term investment? Read ahead to find out.
Chainlink (LINK) drops despite Polarys collaboration
Chainlink (LINK) has been making changes to its ecosystem by adding new features that will help it achieve its goal of a wider adoption. On Monday, Polarys, a Web3 platform that helps athletes, sports clubs, and sports brands tap into the potential of their fanbase with NFT memberships, stated that it will be collaborating with Chainlink (LINK) to incorporate price feeds. With this collaboration between Chainlink (LINK) and Polarys, users can mint community NFTs and make transactions in USD, as the marketplace will support the conversion of digital asset prices. Polarys’ co-founder and CEO has stated that the company made its decision to work with Chainlink (LINK) because of its reliability and scalability. Over the past few weeks, Chainlink’s (LINK) NFT ecosystem has also expanded. Chainlink (LINK) price analysis, however, shows that the market is currently pursuing a negative trend, with declining momentum. Over the course of the past month, Chainlink’s (LINK) price has dropped by more than 5%, and the bearish trend from the previous days has continued.
Polkadot (DOT) development increases amidst a bear market
Polkadot (DOT) has recently been the most dominant in terms of development, as shown by the popular activity trackers. The Polkadot (DOT) blockchain network has restored its position as the leader in the number of development activities. In December 2022, there were indications of significant activity drop-offs in the Polkadot (DOT) ecosystem that led to price declines. However, currently, more than 550 active on-chain or ecosystem-in-development projects are operating on Polkadot (DOT). Despite Polkadot’s (DOT) recent weekly increase, favorable revenue, rapid development activities, and collaborations, the price of the token hasn’t improved much. If the current downward trend is not reversed this year, Polkadot (DOT) will fall back to $4, as per analysts. Investors weren’t very enthusiastic in the first week of this year, but Polkadot (DOT) managed to have a temporary 11% gain. However, given that Polkadot (DOT) has dropped by 80% in the past year has caused investors to worry about the company’s future.
Snowfall Protocol (SNW) gains traction as one of the most successful tokens
As an interoperability bridge across different blockchain networks, Snowfall Protocol (SNW) allows for the transfer of data and assets between them. With Snowfall Protocol (SNW), fungible and non-fungible tokens can be transferred between EVM-compatible and non-EVM-compatible blockchains seamlessly. Investors can also stake their holdings on Snowfall Protocol (SNW) and trade between other cryptocurrencies to earn profits. The progress of Snowfall Protocol (SNW) has been rapid since it was introduced. The first two presale rounds for Snowfall Protocol (SNW) were among the most successful ones in the crypto market. Furthermore, the Snowfall Protocol (SNW) presale phase 2 was completed a day early due to overwhelming demand, and phase 3 is almost sold out. Prior to its launch this year, Snowfall Protocol (SNW) has already amassed $3 million in funding. After launch, it is anticipated that Snowfall Protocol (SNW) will grow by 1000% from its current price of $0.182. As a result, new and experienced investors are rushing to buy Snowfall Protocol (SNW).
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