Both once-trendy crypto projects, Cardano (ADA) and Solana (SOL), have been plagued by several setbacks this year. Understandably, investors of these crypto assets are now concerned and have grown weary of the assets’ consistent decline. These investors are now in search of new investments to put their money into.
Projects such as Snowfall Protocol (SNW) allow investors to make huge returns. Unlike Solana and Cardano, Snowfall Protocol (SNW) has provided good yields to its early investors even under bearish pressure.
Cardano (ADA) had a stellar year in 2021. The bulls were able to pull a 691% price increase in the calendar year, demonstrating their power. With such momentum, Cardano (ADA) reached a market capitalization of $97.52 billion and an all-time high of $3.03 in September 2021. But, since the bears seized control of the crypto market, Cardano has underperformed, taking a huge knock and nearing the $0.3 support level.
Cardano (ADA) has broken the $0.3 support level and currently trades at $0.243 – $0.257. Cardano (ADA) has been chastised recently, particularly for its poor development rate. This gradual progress continues to have a negative impact on the market, and no price rise is foreseen anytime soon.
No End In Sight To Solana (SOL) Decline
Aside from the market’s bearish pressure on Solana (SOL), a significant attack on its lending protocol has influenced a massive decline in value. An attacker stole $100 million from Mango Markets, a DeFi platform, and is currently holding it hostage until the network covers its liabilities. This announcement comes on the heels of yet another network glitch, and Solana will have a difficult time in the coming months.
Given all these negative pressures, Solana’s value has gradually declined. Solana (SOL) has dropped around 4% to $9.52 – $10.78 as of this writing, representing a drop of 96.30% from its peak. Following their dissatisfaction with Solana (SOL), investors are now motivated to invest in Snowfall Protocol (SNW).
Snowfall Protocol (SNW) Surges from $0.005 to $0.17
Snowfall Protocol (SNW) has launched its dApp prototype after experiencing tremendous success in recent months. The Snowfall Protocol (SNW) dApp enables users to transfer and receive tokens between wallets on several blockchains in a secure and timely manner. Likewise, Snowfall Protocol (SNW) includes smart contract features that allow token swaps and many other activities that necessitate token exchange.
Snowfall Protocol (SNW) promises to be the only platform investors require for asset transfer, eliminating the requirement for a trusted third party or middleman. The Snowfall Protocol (SNW) dApp functionality has assisted it in raising $3 million in just two months of the presale.
The current and final Snowfall Protocol (SNW) presale round will likely be more profitable than the last ones. Snowfall Protocol (SNW) distributed more than half of this round’s tokens in less than two weeks. As a result, the price of Snowfall Protocol (SNW) has risen from $0.05 to $0.17 in the last week, with more expected ahead of its January debut.
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