Altcoins are making a huge comeback over the past seven days as they’ve surged 60% in value. Among the altcoins that have bucked the larger downward trend, Solana (SOL), Snowfall Protocol (SNW), and Aptos (APT) are leading the sharp recovery. Although significant ups and downs are pretty much routine events in the crypto world, the recent performance of altcoins demands attention. Here’s why these coins are rallying.
Solana (SOL)
The De-Fi is a self-correcting universe, which course-corrects itself with never-ending experiments and feedback loops. Solana is one of the more successful experiments created as an answer to the “Ethereum Problem.” Ethereum blockchain has notoriously high fees and low transaction speed. Solana solves this problem with its hybrid proof-of-history (PoH) consensus and proof-of-stake (PoS) consensus blockchain. Transactions are executed at lightning speeds, and Solana is designed in a way that the gas fees will always be low, even when the userbase grows exponentially. Naturally, Solana’s founders had no qualms about calling it the “Ethereum killer.”
Despite the tall promises, Solana has been struggling for well over a year. It has lost over 80% of its value during this time. However, in a stark turnaround, Solana bottomed below $10 and rebounded to $24. The sharp 70% growth in its value has left everyone surprised. Whether it’s the launch of BONK, a new meme coin, on Solana or the planned migration of Helium blockchain to the platform, Solana is appreciating in value sharply.
Snowfall Protocol (SNW)
Although many altcoins have made positive progress this week, Snowfall Protocol (SNW) has topped the list of best-performing altcoins with a strong 87% appreciation in price. The interoperability bridge connects multiple blockchains and allows the transfer of assets and info between them. So far, Snowfall Protocol (SNW) has had three rounds of presales, and its launch is scheduled for early February 2023. Although the platform has already revealed a prototype dApp, its core features like crypto swapping, staking, yielding, and dex services will be made available after the launch. As the launch date approaches, Snowfall Protocol (SNW) continues to shoot up in value.
Snowfall Protocol (SNW) is expected to hit $1 over the next few weeks. So, it’s still affordable for ambitious retail investors who want to hold onto the next 1,000x crypto.
Aptos (APT)
Aptos is a layer-1 blockchain designed to overcome the challenges facing crypto developers, such as speed, scalability, and upgradability. Transactions on Aptos are executed almost instantly, and the platform can process up to 150,000 transactions per second. Aptos uses Rust, a programming language designed to make blockchain adoption seamless for developers. They can easily build dApps using Aptos smart contracts and scale up or down effortlessly.
Aptos launched only a few months ago, at the lag end of 2022, at the height of crypto winter. Since its launch, Aptos has suffered a significant price drop, but is posting a fast recovery in 2023. So far, Aptos has raised hundreds of millions of dollars in funding from investors alone. Currently, Aptos is valued at over $1 billion and is growing rapidly.
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Presale: https://presale.snowfallprotocol.io
Twitter: https://twitter.com/snowfallcoin