Home Community Insights Polygon (MATIC) and Dash (Dash) Trying to Stay Afloat as Snowfall Protocol (SNW) Blazes Ahead

Polygon (MATIC) and Dash (Dash) Trying to Stay Afloat as Snowfall Protocol (SNW) Blazes Ahead

Polygon (MATIC) and Dash (Dash) Trying to Stay Afloat as Snowfall Protocol (SNW) Blazes Ahead

The dust has settled. There’s no ambiguity about it anymore. It’s the end of December 2022, and bear forces have firmly gripped the crypto markets. Most cryptocurrencies are struggling to maintain their values and routinely drop to new lows. Is the crypto market heading toward another crash in early 2023? That’s hard to say. But, what’s clear is that most of the cryptocurrencies, especially those whose value is primarily driven by the likes of bitcoin or Ethereum, are not going up. However, Snowfall Protocol (SNW) appears to be an outlier token and dead set on charting its own course. It’s even outperforming the likes of Polygon (MATIC) and Dash (Dash) in daily volumes.

Polygon (MATIC)

Polygon (MATIC) is a layer 2 solution designed to answer Ethereum’s scaling challenges. In fact, Polygon has proven its worth by processing over 65,000 transactions per second. Polygon also transforms Ethereum into a multichain ecosystem that connects multiple blockchains. Besides these benefits, Polygon also engages in sustainability projects. Polygon is committed to reducing its carbon footprint to zero and buys carbon credits to achieve that.

Although Polygon has hundreds of dApps on its platform, it has largely struggled to maintain its price because of low user activity. However, that changed recently when Reddit users mined over 5 million NFTs on the platform in a single day. Most of these were distributed for free to nearly 4 million unique wallet addresses. Clearly, that boost in user activity bumped up the value of the Polygon token MATIC for those 24 hours. Subsequently, it dropped again.

Dash (Dash)

Dash (Dash) launched as a hard fork of Litecoin way back in 2014. Although designed to be a cheap global payments network, Dash quickly lost its user base to the competitor tokens that offer unique benefits. For instance, Monero offers anonymized payments and is preferred by privacy-conscious users. After hitting its all-time high price of $1524 in late 2017, Dash crashed and never recovered. In fact, it’s currently valued at less than 3% of its all-time-high price.

For a while now, Dash has been making attempts to create a long-term bullish run, but the momentum has always fizzled out. It’s clear that serious investors don’t want to touch Dash with a 10-foot pole.

Snowfall Protocol (SNW)

Snowfall Protocol (SNW) is a cross-chain bridge that connects multiple blockchains. Although it’s similar to Polygon in some aspects, its technology and project goals are vastly different. Snowfall Protocol (SNW) intends to allow users to transfer their funds and NFTs between any blockchains connected to its bridge. Users also get staking and yielding opportunities to generate passive income on the platform. The ambitious project has already won the trust of investors and users alike. The Stage 2 sale of the Snowfall Protocol (SNW) token was cut short by a day because of the early sale of all available tokens. The ongoing Stage 3 sale has witnessed the token’s price shoot up by 250%! With the January 2023 launch approaching fast, Snowfall Protocol (SNW) is emerging as the top token outperforming even the established tokens.

 

Website: https://snowfallprotocol.io

Telegram: https://t.me/snowfallcoin

Presale: https://presale.snowfallprotocol.io

Twitter: https://twitter.com/snowfallcoin

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