One year after hitting an all-time highest price, Elrond (EGLD) has nose-dived by over 90%, and Algorand (ALGO) by over 98%, the lowest they’ve both been since their listing. While several assets are being hit hard, some assets like Snowfall Protocol (SNW) are redefining the status quo with its innovative cross-chain solution and very attractive investor bonus.
This article explores Elrond (EGLD) and Algorand’s (ALGO) price declines and why every investor needs to look out for Snowfall Protocol (SNW). In the end, you will see why many investors are very bullish on Snowfall Protocol (SNW) and why the team already raised over $3 Million in its presale with an attractive 100% investment bonus
Exploring Elrond’s (EGLD) use case and market performance.
Elrond (EGLD) promises ultra-fast transactions using sharding and very low transaction fees with its independent chain for developers to deploy smart contracts. The Elrond (EGLD) network which is a proof of stake (POS) ecosystem rewards stakers with its native token Elrond Gold (EGLD).
Following its launch, the token did extremely well, surfing on the waves of the bullish market during its launch. Unfortunately, for investors with a long-term outlook on things, this type of compatible flaw is generally a concern, because, in a time when blockchain devs are seeking ecosystems that will allow their dApp to interact with other ecosystems, this really is a deal-breaker and we have found this in Elrond’s (EGLD) prices.
Exploring Algorand’s (ALGO) use-case and market performance.
Following its ICO in 2019 with a price of $2.4 per Algorand (ALGO), the token has fallen by over 90% to $0.23 per Algorand (ALGO), at the time of writing. This was also after a bullish streak that had the price hitting $2.3 and having it all crash by more than 99% of its former price, leaving every investor who got in at the ICO and in the last bullish market at a loss.
Algorand (ALGO) is another POS blockchain that allows for the deployment of smart contract protocols. It also boasts of a transaction speed of more than a thousand transactions per second.
One crucial flaw of Algorand (ALGO), however, is that it is just another cliche POS chain amongst many others. There are no exceptions in its speed, transaction cost, or interoperation abilities. Sadly, this is reflected in its liquidity across markets and the reason why it is literally suffocating during this bearish market.
Snowfall Protocol (SNW): a 100% bonus and $3 Million in phase 2 of presale
Snowfall Protocol (SNW) is a hybrid, multi-chain token-swapping ecosystem. What this means is that you can swap both fungible and non-fungible tokens from one chain to another without needing to use a centralized exchange or centralized NFT marketplace.
Now, in a time where blockchain devs are leveraging various chains to optimize their tokens or dApps performance to the fullest, there is a rising need for a solution that allows for seamless transfers. This solution and ease is what Snowfall Protocol (SNW) offers. Snowfall Protocol (SNW) is the first protocol developing this multi-chain possibility for token creators.
This timely solution is why analysts predict that Snowfall Protocol (SNW) will have a 500% climb from its launch in the next bull run and it is also why the Snowfall Protocol (SNW) token had a $3 Million presale value. Already, Snowfall Protocol (SNW) has remained at the top of search lists for a long time, with multiple predictions of a bullish trend for Snowfall Protocol’s (SNW) native token Snowfall Protocol (SNW).
VC outlook on the future of crypto- The Golden Era of Web3
Following the turn of events with the market crypto, VCs are already redirecting their pockets to pro-web3.0 infrastructural projects like multi-chain and cross-chains solutions which facilitate a more interoperable web3.0 ecosystem. A good example is Andreessen Horowitz’s (a16z) $4.6 Billion allocation for its Web3.0-related investments in what its team termed “the Golden Era of Web3.”
Snowfall Protocol (SNW) is already ahead of the curve with its multi chain and cross-chain web 3.0 solution and it’s no wonder why its presale round hit over 3 Million dollars.
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.