Place/Date: - December 25th, 2022 at 1:16 pm UTC · 3 min read
Source: Snowfall Protocol
Snowfall Protocol (SNW) is a multi-chain interoperability protocol that has recently gained traction in the cryptocurrency ecosystem. Snowfall Protocol (SNW), which is still in its presale phase, prides itself on being the first cross-chain ecosystem to support the transfer of fungible and non-fungible assets across EVM and non-EVM compatible chains.
Snowfall Protocol (SNW) aims to remove the barriers that currently prevent cross-chain communication, such as between the Ethereum and Bitcoin networks. It is laying the groundwork for future cross-chain communications, intending to provide everyone with an equal opportunity to interact more seamlessly with their favorite projects.
Snowfall’s presale campaign has so far been a success. In December alone, the price of Snowfall tokens (SNW) jumped from $0.075 to $0.14. Snowfall Protocol (SNW) was valued at $0.005 when the presale campaign began, and if all tokens are sold, the launch price will be $0.2.
When closing the second round, Snowfall Protocol had raised $3 million. This round also sold out a day early. Snowfall Protocol (SNW) is expected to return up to 1000x post-launch and 5000x during the Bitcoin Halving rally in 2024.
What are Polygon and Cardano, and what does Snowfall Protocol’s comparison to them mean?
Polygon, formerly known as Matic network, is a layer two scaling solution that runs alongside the Ethereum blockchain. Ethereum. Polygon seeks to provide quicker and less expensive transactions on Ethereum using Layer 2 sidechains—blockchains that operate in addition to the Ethereum main chain. MATIC, the network’s native token is used for fees, staking, and other purposes.
Polygon is currently trading at $0.792077 with a $197.35 million 24-hour trading volume. This represents a 0.11% decrease in 24 hours.
Polygon is ranked tenth on CoinMarketCap with a $6.9 billion live market cap. It also places third in the Proof-of-Stake Coins category, second in the Ethereum (ERC20) token’s category, and first in the Layer 2 category.
Polygon’s all-time high was $ 2.91 on December 27, 2021. The lowest price since this ATH is $ 0.322074.
Cardano is a Proof of Stake (PoS) blockchain platform that uses smart contracts to run decentralized applications. It is intended to be a versatile, long-lasting, and scalable blockchain platform for running smart contracts. Cardano seeks to address the typical scalability problems most “second-gen” blockchains like Ethereum experience. Cardano is one of the largest blockchains to successfully employ the far less energy-intensive Proof of Stake (PoS) consensus mechanism.
The current price of Cardano is $0.250681, with a 24-hour trading volume of $204.9B. Cardano has dumped 3% in the last 24 hours. Cardano is currently ranked ninth on CoinMarketCap, with a market cap of $8.6 billion. It also ranks second in the Proof-of-Stake Coins sector and sixth in the Layer 1 sector.
Cardano reached an all-time high of $ 3.10 on September 2, 2021. The lowest price since this ATH is $ 0.248553.
As can be seen, both Polygon and Cardano are top performers in their respective industries. Even during the worst bear market conditions, their utility and long-term viability keep them attracting new investors. The fact that market analysts are comparing Snowfall Protocol (SNW) to them while it is still in its early stages speaks volumes about the project’s potential. The fact that they believe Snowfall Protocol (SNW) will join the ranks of Polygon and Cardano should serve as a wake-up call to move and invest in Snowfall today. Snowfall’s presale is still ongoing. Simply visit!
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