Stardust adds Avalanche (AVAX) for powerful scaling solutions, Solana (SOL) crumbles due to FTX ties, Snowfall Protocol (SNW) prepares for February launch

January 25, 2023
3 min read

The cryptocurrency market is preparing for a major year ahead. With new token launches such as that of Snowfall Protocol, to new developments for Avalanche (AVAX) and Solana (SOL), there’s a lot to look forward to. In this article, we will explore the recent updates for three cryptocurrencies - Avalanche (AVAX), Solana (SOL), and Snowfall Protocol (SNW), and assess which token has a better possibility of giving investors profits in 2023.

Avalanche (AVAX) faced with selling pressure after price highs

Avalanche (AVAX) C-Chain support has been added to Stardust, which provides a nonstop solution for programmers. By collaborating with Avalanche (AVAX), game designers connected to Stardust will be able to use the company's trust fund to entice a larger share of the general gaming population. Stardust continues on its path toward a more versatile collection of tools with the addition of Avalanche (AVAX). Moreover, Stardust and Avalanche (AVAX) have been crucial in developing an acceleration program that would make it easier for Web2 game developers, and also Web3 conventional companies, to include NFTs in their games. According to Avalanche (AVAX) price analysis, bears have retaken control of the market, resulting in a minor decline in today's Avalanche (AVAX) price. Since the beginning of this week, Avalanche’s (AVAX) price has been steadily rising. However, after three days of nonstop gains, the price has become unstable again, and Avalanche (AVAX) has dropped to the $15.85 level. If the selling pressure stays strong, the cryptocurrency could see more losses in the hours ahead.

Solana (SOL) falls despite no direct on-paper correlation with FTX

FTX has started the bankruptcy procedure after its founder, Sam Bankman-Fried, was accused of using customer funds to fund his other company, Alameda Research, which was meant to operate independently from FTX. Solana (SOL) has had a dramatic decline, along with many other cryptocurrencies, after the FTX collapse. Solana's (SOL) price has dropped by more than 96% since it hit an all-time high in November 2021, when the exchange was at its peak. 

At the time, Solana (SOL) was trading around $260. While there was no direct relationship between Solana (SOL) and FTX (as per Solana’s founding members), the FTX bankruptcy made its value fall below $10. Although Solana (SOL) was once hailed as one of the market's most promising digital assets, its reputation has suffered a severe hit following the recent collapse of FTX. At the time of writing, Solana (SOL) is trading at $25.58. The price of Solana (SOL) has fallen 90.17% from its all-time high of $260.06.

Snowfall Protocol (SNW) to debut at a price of $0.22

Since the token's presale, investors in Snowfall Protocol (SNW) have seen massive price increases. The goal of the innovative project, Snowfall Protocol (SNW), is to give consumers superior features, unlike any other existing cryptocurrency. Interoperability and open channels of communication between blockchains are the key concerns addressed by Snowfall Protocol (SNW). Snowfall Protocol (SNW) eliminates the need for third-party intermediaries during the exchange of assets between networks that are, and are not, EVM-compatible.

Snowfall Protocol (SNW) dApp's functional prototype has been made public, displaying the protocol's many features before its official release. Snowfall Protocol’s (SNW) team also announced that they’re all set to go live on February 3. The announcement triggered a 60% spike in the price of Snowfall Protocol (SNW). Currently, less than 10% of all Snowfall Protocol (SNW) tokens are available in its final presale phase. Snowfall Protocol (SNW) is currently trading at $0.191, and is projected to have a starting price of $0.22, at the time of launch.

get in while you can and invest in Snowfall Protocol (SNW) today!!!





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