In cryptocurrency, buyers are usually looking for the next thing. With such a lot of extraordinary alternatives available, it could be tough to recognize which assignment to position your cash into. Recently, a brand new participant has entered the market: Snowfall Protocol (SNW).
This assignment has been making waves, with its presale promoting out in only some hours. As a result, buyers are turning their heads to Snowfall Protocol (SNW) because it competes in opposition to hooked up gamers withinside the market: Chainlink (LINK) and Polkadot (DOT).
Chainlink (LINK) Consolidates Below $6.00 During the Holidays; what Will Its Price Be In 2023?
As the markets experience low activity during the holidays, Chainlink (LINK) and the larger crypto market have started the week with mixed market sentiment. Chainlink (LINK) appears to consolidate around the $6.00 level, with resistance and support levels at $6.00 and $5.89, respectively.
While Chainlink's prices may be flat for the time being, the Chainlink team rolled out a list of integrations in 2022, which could lead to Chainlink’s rapid recovery when the bulls return. According to a tweet by Chainlink detailing the network's accomplishments in 2022, Chainlink now has 1,994 integrations, 1,650 more than its nearest competitor. In addition, Chainlink recently launched LINK staking, which has increased momentum and the price is expected to catch up soon.
Advertisement
Chainlink is the most valuable Oracle protocol in market capitalization and total value locked. An oracle network serves as a bridge between the on-chain and the real world.
Polkadot Reports Small Gains on Christmas, Several Indicators Point to A Price Increase in The Coming Days
Polkadot's (DOT) recent price action has been disappointing, with a negative 3% weekly growth and a negative 20% for the month. Polkadot is currently trading at $4.48 and has a market capitalization of $5.1 billion. Despite this poor performance, several price indicators signal that Polkadot's price may be preparing for a rally.
Polkadot's RSI and stochastic indicators are both in oversold territory on the daily chart, indicating a strong buy signal. Furthermore, the Moving Average Convergence Divergence (MACD) shows the possibility of a bullish crossover, implying a shift of power to the bulls as we approach 2023. However, there is a catch. Polkadot bulls must push the price higher and consolidate above $4.65. This level could then pave the way for Polkadot to rally past the $5 mark.
Advertisement
Market Analysts Believe Snowfall Protocol Is A Top Crypto Bull Pick for 2023
Despite being in its early (presale) stage, Snowfall Protocol (SNW) has continued to impress investors and industry experts with its dominant run. This week the Snowfall Protocol (SNW) team has shared a snapshot of the protocol's progress bar, indicating a strong performance in the protocol's presale campaign's final round.
According to the Dec 25 post, Snowfall Protocol (SNW) has sold more than 78% of the round's scheduled 100 million tokens in just a little over three weeks. At the same time, the Snowfall token has reached a new all-time high of $0.14 after beginning the round at $0.075. The post also shows the last day of the presale campaign, which is also the official launch and listing date for Snowfall Protocol, Jan 3, 2023.
To recap, Snowfall Protocol launched its three-round presale campaign late this year at $0.005. This price has continued to increase as more investors flock to the protocol. While closing the second round, which sold out a day early, Snowfall Protocol had raised more than $3 million. At launch, Snowfall Protocol (SNW) is anticipated to cost $0.2.
Snowfall Protocol addresses all of the interoperability issues that have hampered blockchain technology thus far. Using the Snowfall dApp, users will be able to swap fungible and non-fungible assets in a scalable, interoperable, and secure environment. The Snowfall Protocol is the first cross-chain platform that allows fungible and non-fungible assets to be transferred between EVM and non-EVM compatible chains.
Advertisement
Staking in Snowfall Protocol (SNW) staking pools allows Snowfall Protocol (SNW) holders to help secure the network while also collecting Snowfall Protocol (SNW) rewards. Snowfall tokens can also be used to participate in governance decisions such as proposal tabling and voting.
Learn more and invest in Snowfall Protocol (SNW) today by clicking on any of the following links:
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin
