However, they do not have a universal appeal. That’s because most crypto users are not developers or businesses. They are retail traders who buy and hodl. So, the recent performance of PancakeSwap (CAKE) and Terra Classic (LUNC) is making them anxious. Now, they’re slowly moving to the crypto-making waves in the lower ranks – Snowfall Protocol (SNW).
PancakeSwap (CAKE) is a decentralized exchange that operates as an automated market maker. PancakeSwap (CAKE) offers users yield farming rewards for supplying liquidity to enable transactions on the platform.
PancakeSwap (CAKE) investors should exercise caution before investing in the token because PancakeSwap (CAKE) has been on a downward spiral for over a year. In fact, PancakeSwap’s woes began well before the bear trends gripped the entire crypto verse. Since April 2021, PancakeSwap (CAKE) has been hitting new lows and has lost over 90% in its value. Even as other cryptos charted ups and downs in the daily market, PancakeSwap (CAKE) has barely moved in any direction. It appears that PancakeSwap (CAKE) has stagnated with no intention of going up or down.
Terra Classic (LUNC)
Terra Classic (LUNC), a supposedly “stablecoin,” depegged earlier this year and lost 99% of its value. After Terra Classic’s (LUNC) collapse, it has struggled to regain its value. Despite some gains in recent weeks, Terra Classic has not found a footing in its value. Terra Classic (LUNC) appears to be stuck in its price range for the time being.
Adding to Terra Classic’s (LUNC) woes is the fact that it’s not a utility coin with a strong foundation. So, nothing is supporting the token from another free fall to oblivion. Terra Classic’s (LUNC) investors are just one bad day away from losing 99% of their portfolio.
Snowfall Protocol (SNW)
Snowfall Protocol (SNW) is a cross-chain bridge that connects multiple blockchains. Users can transfer crypto funds and NFTs from one blockchain to another using Snowfall Protocol (SNW). This opens up a whole world of opportunities for crypto users. Game-Fi users can use characters from one game-fi blockchain to play games on another blockchain using the Snowfall Protocol (SNW) bridge. They can transfer their NFTs and assets to any blockchain. That means Snowfall users would soon be able to move their NFTs to a marketplace where they’ll get the best prices on selling them. Alternatively, they can buy an NFT on a marketplace like OpenSea and then use that NFT to play games on Decentraland. The potential is limitless.
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece; nor can this article be regarded as investment advice.