Snowfall Protocol (SNW), Avalanche (AVAX), and Neo (NEO) created waves in the cryptocurrency market during their respective launches. However, while Avalanche (AVAX) and NEO have not been able to keep their investors happy for long, Snowfall Protocol (SNW) is proving to be a great investment even before its official launch. So, if you have space in your portfolio, here is a lowdown on which crypto you should invest in this week.
Avalanche (AVAX)
Avalanche (AVAX) is a layer 1 blockchain. It hosts dApps and networks, creating a scalable architecture. Such a setup allows its users to deposit crypto into smart contracts and then earn from the yields. Avalanche (AVAX) initially generated a lot of interest, with daily transactions almost touching the 1 million mark. However, Avalanche (AVAX) could not retain the engagement, and the daily transaction volume suddenly fell out of the sky. The sudden drop was mirrored by its prices too. Investor confidence also went down, leading to further losses for Avalanche (AVAX).
Every time the price falls, its support levels go lower. The buyers are losing the little faith they had in Avalanche (AVAX). The selling pressure is taking the prices to new lows for Avalanche (AVAX).
NEO (NEO)
NEO is another blockchain developed in China that initially generated a lot of interest. NEO is essentially a smart contract platform like Ethereum that supports the development of dApps and other digital assets. NEO is a cryptocurrency that is used to provide incentives to contributors in the NEO smart economy.
The NEO project lost its initial momentum because of the Chinese crackdown on crypto trading. The team had to shift their focus from strengthening their crypto use case to complying with the new norms. There has been no exciting news from the NEO developers recently. Its investors are getting more and more impatient. The sell-off results from impatience and disappointment at the snail-paced growth rate of NEO.
Snowfall Protocol (SNW)
Snowfall Protocol (SNW) is built around the primary use case of a blockchain cross bridge. The fundamental concept behind Snowfall Protocol (SNW) is to offer a “highway” for users between different blockchains. Users can transfer crypto funds and NFTs from one chain to another. The use case has attracted a lot of takers. The demand for Snowfall Protocol (SNW) has been evident since its presale. It has already generated high returns even before its launch. The developers have also created a prototype for their dApps, and have clearly stated their vision for the future of crypto. The clarity in vision has further piqued investor interest.
Stage 2 for Snowfall Protocol (SNW) sale was a huge hit. It had to be closed a day early because the Snowfall Protocol (SNW) was completely sold out. The Snowfall Protocol (SNW) token price rose by 250% at the beginning of Stage 3 of sale compared to Stage 2. Snowfall Protocol (SNW) will launch on January 3, 2023. Experts believe that it will easily generate returns of over 1000% for its early investors.
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin