Place/Date: – January 22, 2023 at 11:44 UTC 4 minute read
Source: Snowfall Protocol
The overall crypto market has seen significant upward price movement for over a week. The total crypto market capitalization gained around $156 billion, and the price surge has sparked interest in many innovative projects.
Decentraland has bounced off key support levels, but Monero is still falling hard. snowfall protocol, a new cross-chain solution, is one of the top gainers, up more than 800%. However, analysts are asking about Snowfall Protocol’s strategy to avoid dumping after launch. Read on to learn more about the widespread gain in the crypto market and Snowfall Protocol’s strategy against loss of value and dumping.
Decentraland posts first massive gain in months
MANA, the native token of the Decentraland metaverse, has reacted positively to rising cryptocurrency prices. The token bounced off a key support level of $0.284 and has grown tremendously ever since. MANA closed its intraday candle in the green for 11 consecutive days from January 6, the first since its launch.
Positive sentiments are growing around the token, with its price turning around 3 times its lowest lows in December 2022. MANA gained around 70% in a week and is still up more than 5% in the last 24 hours. Part of the Decentraland token gain can be attributed to the Australian Open metaverse tennis tournament that began on January 16.
The AOMetaverse is the first Grand Slam tournament in the metaverse and will feature exclusive NFT art for fans. Apart from this, Decentraland has added new features, including virtual access, hotline call technology enabled NFTs, avatars, profile pictures, etc.
Monero Dips Investors, Drops 64% From ATH
Despite the rise in cryptocurrency prices, Monero has failed to significantly recover from its lower lows. The privacy-focused cryptocurrency and decentralized blockchain network have attracted investors since reaching an all-time high price of $475 in May 2021. Monero has become a great choice for private and anonymous crypto transactions.
It uses ring signatures to hide the identity of any user and hidden addresses to generate new and unique cryptographic addresses for a single use. After its launch, Monero received great support from investors and rose from $1.6 to $419 in three years. So far this year, XMR has managed to gain 10% but is still falling sharply even with the rise in cryptocurrency prices. The Monero price is $171, roughly a 64% drop from ATH.
Snowfall protocol gains ground with antidumping measures
Snowfall Protocol, an innovative cryptocurrency bridging and transfer ecosystem, is gaining ground as the best pre-sale of the year. Like a bridge or a highway, Snowfall Protocol provides a platform that allows different chains to link and interact to enhance the safe and seamless transfer of assets.
The Snowfall Protocol’s goal of improving blockchain interoperability and removing the technical barrier between blockchain networks has been the focus of 2022 and 2023. The protocol is a one-stop-shop for all chain-hopping and bridging needs. Its use and application cases in building a new ecosystem of interoperable chains aroused the interest of investors. The project has accumulated over $5 million and is experiencing a meteoric rise in demand.
However, the cryptocurrency market is constantly changing and many protocols have failed after their investors abandoned them. Fortunately, Snowfall Protocol has laid out plans to prevent dumping and preserve the value of its token with the Token Override Strategy. As part of the plans, the protocol plans to release the Snowfall Protocol token to its team after 60 months. This would prevent a panic sell-off and boost investor confidence.
Snowfall Protocol’s focus on building a vibrant ecosystem indicates its long-term potential and the viability of its DeFi opportunities. Meanwhile, their tokenomics is well designed and fully vetted by third-party security auditors. All this has made Snowfall Protocol the most trusted cryptographic project out there.
If you want to invest and expand your portfolio with an innovative project with great use cases, the Snowfall Protocol token is your best choice. The token is still in pre-sale for $0.191 and market analysts are expecting a 1000x increase on launch.
You, too, can be a part of this life-changing opportunity: sign up and buy $SNW on the Snowfall Protocol pre-sale website.
For more information on the Snowfall Protocol, visit: Presale, Website, Telegram, Twitter.
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