The crypto market is back up again, and many cryptocurrencies are regaining their value gradually. However, it is normal to see weak cryptocurrencies drop in value while others are bullish. Recently, popular cryptocurrencies, Monero and Dash, have declined.
Meanwhile, the Snowfall Protocol put joy in investors’ hearts with its steady rise in demand over the past few weeks. In fact, Dash investors are dumping hard for the Snowfall Protocol as experts are confident that it will rise by 1000x soon. In this article, we’ll recap why Monero and Dash are falling while Snowfall Protocol makes the top 5 investments of 2023.
Over the years, Monero has stayed on top of its game as a unique blockchain network that provides privacy-focused transactions to users. At its peak, Monero gained traction as a highly undervalued asset that leads the pack of the best crypto investment. However, the token has hit rock bottom after clinching an all-time high price of $458 in May 2021.
Monero is one of the cryptocurrencies that stood strong for most of the 2022 bearish pressure. However, the token went lower, creating a new lower low and pushing below key support levels in November 2022. Monero reacted to the FTX debacle at that time but has not gained its stance since then.
Meanwhile, the oddly high number of crypto exchanges renouncing their support for the Monero token fueled its decline. Recently, Huobi announced plans to delist Monero and other privacy-focused coins amidst regulatory concerns. Monero token is trading at $170, and analysts expect some bullishness if new support levels are held.
Dash is a blockchain-based open-source crypto transfer protocol. The peer-to-peer cryptocurrency allows users to transfer assets faster and more securely. However, like Bitcoin, Dash is backed by a Proof of Work consensus algorithm, which is always energy intensive. Aside from being a decentralized payment protocol, Dash was developed to promote a user-friendly and scalable financial system.
Dash token has seen a remarkable decline and waned support after attaining an all-time high price of $1,490 in December 2017. By the next 24 months, Dash has lost 97.5% of its value. While there is no clear driver behind Dash’s decline, investors are gradually dumping the project for a more profitable investment. Dash is currently trading at $50, and major upgrades continue to be implemented.
Snowfall Protocol is leading the forefront as an innovative platform that disrupts the crypto space with its ingenious interoperability features. The cross-chain bridging has seen huge support from investors even at its presale stage. However, what makes it different from Dash, Monero, and other projects?
Snowfall Protocol is a multichain bridge with the potential to unlock a massive asset transfer and exchange ecosystem for its users. The protocol acts like an open bridge or pipeline for easy, secure, and hassle-free transfer of any cryptographic asset. With its canonical and reverse canonical token bridge, Snowfall Protocol users can transfer crypto assets back and forth between their preferred chains.
The most interesting part is that the protocol supports NFTs with a swap/wrap model. This way, anyone, including developers, can interact concurrently with more than 200 EVM-compatible and non-EVM networks. The Snowfall Protocol has a huge potential to build the dream blockchain technology.
Experts are sure it will gain 1000x, and investors are trooping in to buy into Snowfall Protocol’s idea and token. The token’s price is $0.191 in ongoing more sake and has already raised more than $5 million. The future is bright for Snowfall Protocol, and you can participate by going in at presale.
You can also be a part of this life-changing opportunity – sign up and buy $SNW at Snowfall Protocol’s presale website.
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