With the start of the new year, crypto investors are also looking for new developments and launches in the market. While some tokens, such as Snowfall Protocol, have shown remarkable price growth in 2023, many, like Cardano and Polkadot have failed to live up to expectations. So, why is Snowfall Protocol (SNW) rising ahead of Cardano (ADA) and Polkadot (DOT) despite recent developments? Read ahead to find out.
Cardano (ADA) leads in innovation but not in ROI
Manufacturers of electric vehicles (EVs) are taking notice of the blockchain and cryptocurrency industry’s continued growth amid tumbling markets, and are thinking of collaborating with blockchain networks such as Cardano (ADA). Recently, one of these manufacturers announced the start of an EV project built on the Cardano (ADA) network, with the first units available in Sri Lanka. This week, at the World Economic Forum in Davos, a revolutionary new mode of transportation called eTukTuk, in collaboration with Cardano (ADA) was revealed.
This has the potential to affect the lives of billions of people around the world, and the growth charts of Cardano (ADA). The project uses Cardano’s (ADA) blockchain technology to create a rewards system for drivers and riders, demonstrating the practicality of this emerging technology. Since last year, Cardano (ADA) has traded at its all-time lows. Though Cardano (ADA) seems to be leading in terms of innovation, it’s still falling behind when it comes to ROI. Cardano (ADA) is currently trading at $0.36, down from $1.29 last January.
Polkadot (DOT) declines despite listing on top
Polkadot (DOT) has recently been in the spotlight after rising to the top of the list of cryptocurrencies based on the Nakamoto Coefficient. A decentralized blockchain, such as Polkadot (DOT), is less vulnerable to collusion when the Nakamoto Coefficient is greater than or equal to the total number of validators. However, Polkadot’s (DOT) pricing had no effect on making this list.
On January 15th, Polkadot’s (DOT) funding rate fell, leading to reduced demand in the futures market. The price of Polkadot (DOT) also looked bearish on the daily charts, which could indicate an incoming downward price spiral. Polkadot (DOT) is still 69% below its price from January 2022. Polkadot (DOT) is currently trading at $6.09 and is almost 90% below its all-time high. This has caused some shareholders to worry about the future of Polkadot (DOT), and its potential to scale.
Snowfall Protocol (SNW) brings in massive gains for investors
Since the presale of Snowfall Protocol (SNW) started, its gains have been making headlines. Investors that bought into the presale of Snowfall Protocol (SNW) have seen substantial returns so far. Snowfall Protocol (SNW) has seen a price spike of almost 500% in the past three months. Additionally, Snowfall Protocol’s (SNW) price is expected to rise to $0.22 soon, from its current price of $0.191.
Snowfall Protocol (SNW) successfully raised $3 million throughout the course of its first two rounds of funding. The current phase of the Snowfall Protocol (SNW) presale campaign is expected to outperform the first two. Snowfall Protocol was developed with the aim of improving interoperability between blockchains so tokens and assets can be moved around easily. On February 3rd, Snowfall Protocol (SNW) will launch with a decentralized application (dApp) and a wallet. Snowfall Protocol’s (SNW) features will make it easy for users to trade stablecoins and assets, stake assets, and earn profits from them.
Get in while you can and invest in Snowfall Protocol (SNW) today!