Cryptocurrency Outlook for Solana (SOL), Avalanche (AVAX) and Snowfall Protocol (SNW) Post-FTX Bankruptcy

When it comes to digital currencies, users have access to a wide variety of alternatives to choose from. However, three of the most popular options currently are Solana (SOL), Avalanche (AVAX), and Snowfall Protocol (SNW)

When it comes to digital currencies, users have access to a wide variety of alternatives to choose from. However, three of the most popular options currently are Solana (SOL), Avalanche (AVAX), and Snowfall Protocol (SNW). All three have their set of benefits and some also have drawbacks, but in the wake of the FTX bankruptcy, how do they each stack up? Read ahead to find out.

Solana (SOL) drops by 60%

The price of Solana (SOL) has been somewhat flat, at best, in recent weeks. As of this writing, Solana’s (SOL) price had dropped to around $13 from $30 at the beginning of November 2022. Based on the recent indicators, the value of Solana (SOL) has decreased by 60% in recent months. The volume indicator showed that Solana (SOL) had not been regularly traded recently. At the start of November 2022, the price of Solana (SOL), which claims to be the Ethereum alternative, began to fall. The price of Solana (SOL) has also been in a downward trend since the FTX exchange’s collapse and the subsequent spread of the crisis. Additionally, over the past few months, we have seen a precipitous drop in the number of actively developing projects in the Solana (SOL) ecosystem, which is making investors lose confidence. In the coming year, experts predict that Solana (SOL) will have further declines and therefore, investors aren’t recommended to hold their tokens.

Avalanche (AVAX) to dip to $0.217

This year, 2022, has not been kind to the blockchain network Avalanche (AVAX). Since the beginning of 2022, the value of AVAX, Avalanche’s native currency, has dropped by more than 85%, placing it outside the top ten most valuable cryptocurrencies by market capitalization. As of today, the price of Avalanche (AVAX) had dropped to $11.69. This was a far cry from Avalanche’s (AVAX) all-time high of $146.22 on the 21st of November 2021, according to statistics. As per research, the total value locked (TVL) in the Avalanche (AVAX) ecosystem has also decreased. After reaching a high of over $12 billion in December 2021, TVL on Avalanche (AVAX) has since collapsed to a low of around $790 million in November 2022. Furthermore, Avalanche’s (AVAX) price was predicted to drop from $0.445 in the next two years, to $0.217 within five years.

Snowfall Protocol (SNW) becomes crypto experts’ most preferred token

To facilitate the exchange of fungible and non-fungible tokens, Snowfall Protocol (SNW) has been developed as the most efficient cross-chain transfer ecosystem. Snowfall Protocol (SNW) is supported by some of the greatest names in the business and has a solid team with a great track record to back its scalability. As per Snowfall Protocol (SNW) website, there is a defined use case argument and a well-developed roadmap for the project. If you’re looking to diversify your crypto portfolio, Snowfall Protocol (SNW) is a great option to consider. Snowfall Protocol (SNW) was anticipated to be the next 1000x token, and its price has already increased by more than 400% in just two months. Many people are getting in on the presale of Snowfall Protocol (SNW) because it is currently undervalued. After the overwhelming success of the first two presale phases, Snowfall Protocol (SNW) has begun a third phase, and has already soared in prices. It is best to invest in Snowfall Protocol (SNW) now, to reap its remarkable benefits in the near future.






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