Place/Date: - November 29th, 2022 at 12:23 pm UTC · 3 min read
Source: Snowfall Protocol
The crypto market has been experiencing a downturn in recent months with several major currencies seeing a sharp fall in value.
But what is the reason for this and are there any good options available? In this article, we will examine the two major cryptocurrencies that have gone down this year: Ethereum Classic (ETC) and The Graph (GRT). We will compare it to the gains of Snowfall Protocol (SNW) and assess the future prospects of each.
For the past few months, the price of ETC was relatively stable between $20 and $30. However, following the FTX (FTT) exchange’s shutdown, a market crash occurred, causing Ethereum Classic’s (ETC) price to drop to a low of $17.89 at the start of November and further to $17.51 on November 22. Ethereum Classic (ETC) is a public, permissionless blockchain platform optimised for smart contracts. Ethereum Classic (ETC) was forked from Ethereum in 2015. According to Ethereum Classic’s (ETC) short-term price predictions, the value may increase slightly by the end of November before dropping to $14.34 in December. As per researchers, there were almost 20 technical indicators that pointed to a downward trend for Ethereum Classic (ETC) and only 12 that pointed to an upward trend. Furthermore, they made a pessimistic Ethereum Classic (ETC) price forecast for 2023. It is predicted that Ethereum Classic’s (ETC) value would drop further over the next 12 months to $14 or less.
The Graph (GRT) is a protocol used for indexing and retrieving blockchain data. The Graph (GRT) indexes blockchain data from networks like Ethereum, similar to how Google indexes the web. The Graph’s (GRT) current price is $0.05625. The Graph (GRT) is currently 97.84% below its all-time high of $2.88. After a prosperous 2021, both The Graph (GRT) and the cryptocurrency market have struggled thus far in 2022. Researchers predicted a fairly pessimistic short-term price trend for The Graph (GRT) tokens. The estimates range from $0.058714 by the end of November to $0.04564 by the end of 2022. The technical analysis was pessimistic for The Graph (GRT), with most indicators showing a downward trend.
When it comes to exchanging assets between blockchains, the brand-new Snowfall Protocol (SNW) is unrivalled. This makes Snowfall Protocol (SNW) one of the most flexible platforms available in the crypto market. Snowfall Protocol (SNW) can run chains, irrespective of whether they are compatible with the Ethereum Virtual Machine. The unique capability of Snowfall Protocol (SNW) to enable true cross-chain compatibility is what makes it so exciting. Users are able to seamlessly trade assets between blockchains due to the platform’s support for Snowfall Protocol (SNW) tokens. The price of Snowfall Protocol (SNW) went up by over 150% in its first presale. Investors can buy Snowfall Protocol (SNW) at the price of $0.060, at present. The price of Snowfall Protocol (SNW) will soon rise to $0.24, an increase of over 5000%.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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