Crypto Investing In 2023: Snowfall Protocol (SNW) Price Shows High-profit Potential Over Binance Coin (BNB) And Solana (SOL)
Place/Date: - December 24th, 2022 at 7:46 am UTC · 3 min read Source: Snowfall Protocol
As Snowfall Protocol continues to defy the bears and boast a successful presale campaign, analysts and investors alike can’t help but compare the new market player to seasoned titans like Binance Coin (BNB) and Solana (SOL). Snowfall’s first stop on its way to the top is outperforming Binance Coin (BNB) and Solana (SOL) in 2023. While this is a challenging task, Snowfall’s recent performance has shown that it is more than capable of completing it. The following are some of the reasons why Snowfall Protocol will outperform Binance Coin (BNB) and Solana in 2023.
But first, let’s understand Snowfall Protocol.
Snowfall Protocol is the first cross-chain ecosystem that allows the transfer of both fungible and non-fungible assets between EVM and non-EVM compatible chains. This disruptive utility has been praised by critics for laying the groundwork for future cross-chain interactions. It is also among the biggest contributors to Snowfall’s presale success. The price of Snowfall Protocol token has been steadily increasing and is now at $0.14. Snowfall Protocol is set to go live on January 3rd for $0.2.
Snowfall Protocol raised $3 million in the first two stages of its three-stage campaign. As investor deposits increase, the third round is expected to double, if not triple, this success.
Why will Snowfall Protocol perform better than Binance Coin (BNB) and Solana?
Untapped utility: Snowfall Protocol is entering uncharted territory with a novel solution to a problem that has plagued the blockchain industry since its inception— interoperability. With Snowfall dApp, users will exchange assets in a secure environment with just a few clicks. Binance Coin (BNB) and Solana were also pioneering in their early days. Solana was among the first blockchains to attain speedy transactions.
High growth potential: Snowfall Protocol, being still in its early days, is underfollowed and untapped by institutional investors. This makes it a great wealth generator for wise investors to grow their investments. Large-cap coins like Binance Coin (BNB) and Solana are currently incapable of such performance. However, both Binance Coin (BNB) and Solana made significant gains during their boom stages, which typically occur after the official launch. The Snowfall Protocol will go live on January 3, 2023.
Investor confidence: Despite being a new market participant, Snowfall Protocol outperforms Binance Coin (BNB) and Solana in terms of investor confidence. Solana’s recent drop following the fall of FTX has left the crypto in a critical state—both in terms of price and trust. Binance’s insolvency rumors have also caused many investors to dump the coin in fear of another FTX event. Snowfall Protocol, on the other hand, has experienced a surge in positive market sentiment as investors continue realizing its potential.
Staking: Snowfall’s taking feature promises stakers annual returns of up to 14%. In addition to offering rewards, staking will lower the number of Snowfall tokens in circulation, driving up the price.
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