As the crypto market is rebounding again, crypto projects have also braced themselves with tools and tactics to go upward. Solana (SOL) and Polkadot (DOT) are two such cryptocurrencies. While Solana (SOL) has launched a new platform update, Polkadot (DOT) has taken preventive measures to avoid circumstances that led to the FTX collapse. Meanwhile, Snowfall Protocol (SNW) has been cruising at top speed. Snowfall Protocol (SNW) has grown by 3700% during its presale phase.
Solana (SOL) Indicates Migrating to pNFTs
As per a tweet by Shaky.fi, an NFT lending protocol, Solana (SOL) will be migrating to pNFTs, or “Programmable NFTs.” pNFTs are a new standard of NFTs to help creators on the Solana (SOL) network get their royalties back. These pNFTs will be in circulation on the Solana (SOL) network alongside normal NFTs. The new standard will allow creators to decide whether their NFTs are allowed to interact with a protocol or not. With this news, Solana (SOL) has received a mixed response from the market. Although the price of Solana (SOL) has increased by 1.84% on the daily chart, it has declined by 3% last week. Currently, Solana (SOL) is being traded at $24.13, which is about 91% below its all-time high of $260.06.
Polkadot (DOT) Says It Is Only A Software
The collapse of FTX Token has brought many cryptocurrencies under the regulatory scanner. Polkadot (DOT) is also one of them. Therefore, taking a preventive step, Polkadot recently released a statement that DOT should not be considered a security, but a software. Polkadot (DOT) also stated that it was closely working with the SEC to adhere to all the regulations. Polkadot’s (DOT) statement has infused some confidence among investors. This, in turn, has pushed the price of Polkadot (DOT) up. The price of Polkadot (DOT) has increased by 49% in the last month. On the weekly chart, Polkadot (DOT) has risen by around 4%. Currently, Polkadot (DOT) is being traded at $6.44, which is 88% below its all-time high of $55.00.
Snowfall Protocol (SNW) Takes A Big Leap On Growth Chart During Presale
Easing the functioning of the DeFi arena, Snowfall Protocol (SNW) has amazed crypto investors across the globe with its massive presale success. The market value of (SNW) has increased by 3700% during its presale round, which will culminate on February 3, 2023. Snowfall Protocol (SNW) is a blockchain platform facilitating cross-chain communication. With a unique inter-operation model,(SNW) has become the favorite of investors looking to invest in projects with assured growth prospects. Snowfall Protocol (SNW) has been designed to eliminate technical barriers obstructing communication between different blockchain networks. Snowfall Protocol (SNW) is the first blockchain platform that facilitates the cross-chain transfers of fungible and non-fungible tokens (NFTs).
To allow chain swaps of non-fungible tokens, Snowfall Protocol (SNW) has a wrapping and swap mechanism. But, to allow the chain swaps of fungible tokens, the platform utilizes a canonical token bridge. The platform vows to keep the accuracy of the cross-chain transactions on its network intact, and free from any discrepancies.Snowfall Protocol (SNW) will allow its users to swap assets between the widely-known non-EVM and EVM networks.
Snowfall Protocol (SNW) can be used in all market segments, and therefore, it will have a vast ecosystem consisting of use cases in Defi, infrastructure cryptocurrencies, stablecoins, and NFTs sectors. Thus, the growing usability can help Snowfall Protocol (SNW) garner a massive user base. Snowfall Protocol (SNW) has successfully raked in more than $5 million during its presale, and the current trading price of the token has reached $0.20.
get in while you can and invest in Snowfall Protocol (SNW) today!!!
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