Place/Date: - January 5th, 2023 at 11:48 am UTC · 4 min read
Source: Snowfall Protocol
The market for cryptocurrencies is renowned for its extreme volatility. Coin value fluctuates swiftly depending on current market conditions and significant news. In recent news for some of the leading projects, Snowfall Protocol (SNW) is performing very well in its presale’s third stage, Ripple (XRP) is all set to collab with Palau to build a stablecoin at the national level, and Cardano (ADA) is ready to launch Djed.
Let’s understand how these news items have an impact on the price of respective cryptocurrencies.
The presale for Snowfall Protocol (SNW) was wildly successful. Stage 2 of Snowfall Protocol’s (SNW) sale saw far more investors join, owing to the success of stage 1. A day before Stage 2 was set to end, every last one of Snowfall Protocol (SNW) tokens had been purchased. Snowfall Protocol (SNW) is currently trading at a 250% premium to its Stage 2 price, in the Stage 3 of presale.
Snowfall Protocol (SNW), with a current value of $0.14, is still within the reach of novice investors hoping for 1000% returns in 2023. The team behind Snowfall Protocol (SNW) is prepared to introduce their decentralised application (dApp). Thus, Snowfall Protocol (SNW) is anticipated to establish benchmarks when it launches in January 2023.
The Republic of Palau has teamed with Ripple (XRP), the industry leader in business blockchain and cryptocurrency solutions for cross-border transactions, to examine the nation’s first official virtual currency. The country also wants to explore use cases with XRP Ledger (XRPL). Whipps Jr. discussed the nation’s digitization and what efforts are being made to embrace future advances in collaboration with Ripple (XRP). The country is collaborating with Ripple (XRP) to investigate the possibility of creating a national stablecoin, the president recently disclosed.
Moreover, it is no secret that the SEC, aka Securities and Exchange Commission’s case has significantly slowed down and hindered Ripple (XRP). XRP, the native cryptocurrency of Ripple, is accused by the United States commission of being security.
The Ripple team allegedly ran a campaign to generate unregistered assets by issuing XRP, according to the SEC’s allegations. After raising roughly $1.3 billion, the defence denied that Ripple (XRP) was indeed security while the prosecution insisted it was. Recently, a final allegation has been made, and it now seems that the case will conclude soon, most likely in the initial quarter of 2023. With a 24 hr trading volume of $894 million, the current Ripple (XRP) price is $0.35. In the past 24 hours, Ripple (XRP) has decreased by 2.59%.
Early in 2023, a decentralised finance (DeFi) virtual currency project called Djed will be launched on the Cardano (ADA) platform. Shahaf Bar-Geffen, CEO of COTI (COTI), discusses the Djed stablecoin project’s upcoming plans in a new conversation with Learn Cardano Podcast presenter, Peter Bui.
Users who send ADA to a specific Cardano smart contract address will receive the equivalent amount of DJED in return. For example, the sender would get $1 worth of ADA by returning 1 DJED to Cardano’s smart contract.
Cardano’s (ADA) price at the time of writing is $0.25. Cardano’s (ADA) has a $196 million 24-hour trading volume. In the past 24 hours, Cardano (ADA) has decreased by 3.44%. Thus, Cardano’s (ADA) price performance has not been great in a while.
Investors are suggested to buy Snowfall Protocol (SNW) to profit off the flourishing cryptocurrency in the future. Cardano (ADA) and Ripple (XRP) have a lot going for now but still need to level up.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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