Most cryptos have experienced a roller coaster ride in 2022. After marking new highs in 2021, market participants were ready for a confined corrective phase when a big bear market hit the crypto space, resulting in Polkadot (DOT) and Solana (SOL) plunging hard. Amid the bearish sentiments, Snowfall Protocol (SNW) laid its foundation stone by closing stage 2 of the presale with a $3 million raise. Meanwhile, popular altcoins like Polkadot (DOT) and Solana (SOL) have plunged severely and may reach their last defense point very soon.
Polkadot (DOT) incepted the trade with a storm, and raised from the levels around $1.42, marking highs above $56 in just a couple of months. However, the prevailing bear market has compelled the Polkadot (DOT) price to lose more than 90% of its value. Additionally, the traders also appear to have shifted their focus away from Polkadot (DOT), as the daily active addresses have marked rock bottom levels.
The Polkadot (DOT) price is constantly following a steep descending trend and appears to form new lows in the coming days. At the time of writing, Polkadot (DOT) is trading at around $4.5, with a market capitalization of about $4.1 billion. The trading volume of Polkadot (DOT) spiked by more than 50% in the past 24 hours.
The year 2022 is marked by numerous failures and bankruptcies, and Solana’s (SOL) price drop is one of the consequences. The Solana (SOL) price was under extreme selling pressure due to the existing bearish trend, and the FTX debacle fueled the drop. After dropping by more than 96% from the highs to mark a single-digit figure, Solana’s (SOL) price is believed to continue with the same descending trend until the market’s bottom.
Furthermore, Solana (SOL) experienced multiple network outages in 2022, resulting in a total shutdown and reboot of the Solana (SOL) network several times. Therefore, the current condition of Solana (SOL) has intensified the disbelief among traders that could drain the liquidity of the platform very soon. The Solana (SOL) price is presently trading at $11.16, after marking the lows at $8.
Snowfall Protocol (SNW) is a multi-chain platform, which intends to simplify the communication between blockchains. Snowfall Protocol (SNW) intends to remove the technical barriers and offer a cross-chain transfer network specifically for fungible and non-fungible tokens. Snowfall Protocol (SNW) has announced a dApp prototype that enables users to swap assets across the EVM and non-EVM compatible chains.
The silent features of Snowfall Protocol(SNW) are a Stablecoin bridge, NFT bridge, and Staking. With a stablecoin bridge, users can transfer stablecoins like USDT, USDC, and BUSD between EVM and non-EVM canonical bridges. Using the NFT bridge, traders can wrap NFTs between blockchains, and Staking Snowfall Protocol (SNW) tokens may allow the users to participate in the governance of the Snowfall Protocol (SNW).
While the crypto market has become largely uncertain, pristine projects like Snowfall Protocol (SNW) may come to the rescue. The Snowfall Protocol (SNW) has recently concluded its 2nd presale phase, and the 3rd phase is almost sold out. Recording a price rise of more than 400%, over 195 million Snowfall Protocol (SNW) tokens were sold to date. The platform is also witnessing a steady growth in the number of buyers, which has induced confidence within the holders.
TheSnowfall Protocol (SNW) price has risen by over 250% in the past couple of months and is believed to undergo a 50x rally ahead of its launch. The price recently marked a high of $0.17 after surging from $0.005. Hence, Snowfall Protocol (SNW) is believed to thrive in the bear market, while Polkadot (DOT) and Solana (SOL) continue to struggle.
get in while you can and invest in Snowfall Protocol (SNW) today!!!
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin
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