Crypto market is undergoing a big churn in 2022. As investors are increasingly becoming wary of centralized blockchain-based platforms, decentralized tokens and projects are seeing a huge traction. At the same time, market crashes triggered by Terra (LUNA) in May and FTX collapse in November have negatively impacted the prices of popular cryptocurrencies like Solana (SOL) and Klaytn (KLAY). Both tokens have been struggling since the start of the year. Interestingly, SNW, the native token of the Snowfall Protocol, has witnessed record growth on the back of strong demand from investors. Currently in the second phase of presale, Snowfall Protocol (SNW) token has jumped 800% from the initial price. This article looks at how Solana (SOL), Snowfall Protocol (SNW), and Klaytn (KLAY) are performing.
Solana (SOL) has been one of the biggest victims of FTX implosion. Till a month back, Solana (SOL) was one of the leading cryptocurrencies ranked among top 10 tokens by market capitalization. However, in the last few weeks, Solana (SOL) has witnessed a drastic fall.
As per CoinGecko data at the time of writing, Solana (SOL) is now ranked 17th by market capitalization, below memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB). The price of Solana (SOL) has also fallen to $14, down nearly 95% from the all-time high (ATH) of $259.96 on November 6, 2021.
Data shows that Solana (SOL) has fallen nearly 50% in the last 30 days. Solana has been one of the most popular blockchains known for greater scalability and short processing times. However, the change in fortunes of the Solana (SOL) cryptocurrency within a year has disappointed millions of token holders.
Klaytn (KLAY) has smartly positioned itself as the metaverse blockchain for all. However, Klaytn (KLAY) has a long way to go to impress investors, who have not shown much interest in metaverse tokens in 2022.
Klaytn (KLAY) is currently trading around $0.17, down 96% from the ATH of $4.34 on March 30, 2021. As per CoinGecko data, Klaytn (KLAY) has been consistently falling since the start of the year. In the first week of January 2022, Klaytn (KLAY) was trading over $1.3. It fell to $0.35 during the market crash in May.
Klaytn (KLAY) showed some signs of recovery in October when its price jumped over 100% to $0.3 by October 30. However, all the gains were wiped out in the wake of FTX collapse as Klaytn once again fell to $0.15 by November 11. In the last 17 days, Klaytn (KLAY) has recovered by around 17% but it is still far from regaining investors’ trust.
Snowfall Protocol (SNW) enables cross-chain transfer of fungible and non-fungible tokens. Snowfall Protocol (SNW) is the first cross-chain transfer ecosystem built for crypto and NFTs, enabling users to swap their assets across most widely used EVM and non-EVM compatible blockchains.
As a governance token of Snowfall Protocol (SNW), SNW allows users to participate in decision-making, monthly raffles, earning fees, and getting more tokens. The Snowfall Protocol (SNW) has gained huge traction among investors in a quick time because of these features.
The Snowfall Protocol (SNW) price has jumped 800% from the initial price of $0.005 to $0.06. While all tokens in the first phase of the presale were sold out, investors have grabbed 70% of Snowfall Protocol (SNW) tokens offered in the second phase. If the demand continues, the price of the Snowfall Protocol (SNW) will jump further. Analysts are expecting that Snowfall Protocol (SNW) would be the next 1000x token.
get in while you can and invest in Snowfall Protocol (SNW) today!!!
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