Place/Date: - January 3rd, 2023 at 2:18 pm UTC · 3 min read
Source: Snowfall Protocol
Despite reports of low activity in the ecosystem, the crypto market outlook for 2023 may already be taking shape. Major fund movements are taking place, which may point to the likely winners and losers in 2023. Snowfall Protocol (SNW) is the clear winner having clocked milestone after milestone in 2022. Cardano (ADA) is another winner, but Chainlink (LINK) is struggling.
Cardano has seen a significant increase in the percentage of the altcoin’s supply held by large wallet investors. Key Cardano investors have been steadily accumulating ADA coins since June this year, according to Santiment, a leading analytics firm. Since the fall of FTX, these whales with 10,000 to 100,000 Cardano (ADA) coins have added $83 million in value.
Typically, whale wallet accumulation is followed by massive profit-taking by investors, so this could be interpreted as a bullish sign. Unwary Cardano investors, on the other hand, may be turned into exit liquidity, so it’s a double-edged sword. Cardano is currently trading at around $0.2427, down 1.22% in the last 24 hours.
2022 appears to be ending on a sour note for Chainlink holders as the token failed to maintain its price above the critical levels of $6.00 and $5.80. Furthermore, Chainlink closed at $5.67 on Dec. 28, its lowest close in two years. Today, Chainlink is trading at $5.55.
Breaking below the $5.80 support level, which has been in place for 230 days, and recording its lowest close since June 2020 are all bearish developments that could lead to a sharp drop to $4.40 unless bulls make a comeback and push the price above $6.00.
Snowfall Protocol (SNW) has delivered yet another spectacular performance, causing investors in struggling projects such as Chainlink to jump ship. To recap, Snowfall Protocol (SNW) sold out its second round a day early. As we speak, the third round is on its way to breaking this record after selling over 85% of all 100M tokens in just a short span. The price of each Snowfall Protocol (SNW) token which was $0.075 at the start of the round has also recorded a more than double increment and is currently at $0.17 owing to increasing investor deposits.
Snowfall Protocol (SNW) will officially launch on January 3 2023 at a $0.2 price. The first listing for Snowfall Protocol (SNW) will be on Pancakeswap with further updates to be made by the team.
Market experts have hailed Snowfall Protocol (SNW) as one of the projects to back for an easy 1000x return in 2023. The project has enormous utility and, as a result, price potential. Snowfall Protocol (SNW) is the first cross-chain solution that allows users to exchange fungible and non-fungible tokens between EVM and non-EVM compatible chains.
With less than a week until the official launch, today is your final chance to purchase Snowfall Protocol tokens at a discount.
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