As the year begins, the crypto market is obviously regaining its feet after the crypto winter of 2022. Bitcoin (BTC) and Ethereum (ETH) are at the forefront of this new rally, trading around the $23,000 and $1,500 mark, respectively.
This could only mean one thing; market enthusiasm is once again on the rise, and groundbreaking protocol Snowfall Protocol (SNW), currently in its final presale phase, is sailing on this wind as it is set to sell out very soon.
Since its inception in 2009, Bitcoin (BTC) has had a rollercoaster journey up until 2023. In November 2021, the King coin achieved a feat that seemed impossible when Bitcoin (BTC) first launched. It hit an all-time high of $65,000. However, by 2021 in the heat of the bear market, Bitcoin (BTC) had plummeted below $20,000, going even lower at times.
But following FTX filing for bankruptcy, Bitcoin (BTC) is beginning to rally again. According to Cointelegraph, on-chain data revealed that the recent short liquidation dominance is behind this rally. This is because it creates automatic Bitcoin (BTC) buys, driving up its price. Apparently, this dominance helped clear the market of unhealthy investments and has made room for the futures market to trend toward longs.
Additionally, the second largest crypto by market cap, Ethereum (ETH) launched its newest update, the Zhejiang testnet on the first of February ahead of the Shanghai and Capella hardfork. A move that would potentially allow validators on the network to safely withdraw Ethereum (ETH) from the network without destabilizing it.
This move was highly anticipated since the blockchain for smart contracts had switched from a proof-of-work mechanism to a proof-of-stake one in a massive event called the Merge in 2022. This was especially important for Ethereum (ETH) users because some of their investments had been locked in for more than two years.
Analysts have predicted that the upgrades would be advantageous to Ethereum (ETH) staking. And the crypto’s price has not only rallied but also remained relatively stable throughout the preparation and launch of the testnet.
Another beneficiary of this market turnaround is the Snowfall Protocol (SNW), a cross-chain transfer ecosystem for both Fungible and Non-fungible tokens. This platform is the very first of its kind, built to provide secure, reliable, and autonomous transactional highways between the myriads of blockchains and ecosystems scattered all around the world of crypto.
Although Snowfall Protocol (SNW) is still in the final part of its presale phase, the crypto promises to spike over 1000% before it is over. This is because it is providing groundbreaking technology, bridges that can link EVM to non-EVM compatible chains, and wrapping and swapping non-fungible tokens between blockchains.
Snowfall Protocol’s token (SNW) was sold at $0.05 in the first phase of its presale, and by the end of this third phase, it would be going for $0.75. Of the total supply of Snowfall Protocol (SNW), only 30% is available, and the price would just keep rising as buyers increase.
The developers of Snowfall Protocol (SNW) have created a platform that offers users a secure way to navigate all their numerous holdings from one place in a secure and user-friendly manner. As a result, savvy investors are buying out the multi-chain solution presale offer as fast as possible.
These three tokens, Bitcoin (BTC), Ethereum (ETH), and Snowfall Protocol (SNW), among others, are restoring investors’ faith in the crypto market. Bitcoin (BTC) with its price recovery, Ethereum (ETH) with its continuous efficient upgrades and stability, and Snowfall Protocol (SNW) with its innovative technology that is changing the way crypto transactions are conducted forever, with its mission of creating a bridge that would link the entire world of crypto.
Learn more about SnowFall Protocol from the links below:
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