While some crypto players like Eos (EOS) and Avalanche (AVAX) are continuously striving to achieve their former glory in the coming year, on the other hand, a new entrant, Snowfall Protocol (SNW), is all set to lead the crypto market and establish new heights.
Waning interest in Avalanche (AVAX)
Avalanche (AVAX) is a decentralized platform created to overcome the shortcomings of Ethereum, like slow transaction speed and high transaction fees. Avalanche (AVAX) allows developers to build Ethereum dApps and deploy smart contracts on its network at a near-zero transaction fee. Initially, Avalanche (AVAX) gained a lot of traction from its users, but it started fading after Ethereum announced its upgrade to a more efficient “Ethereum 2.0.” Currently trading at $11.69, Avalanche (AVAX) is pushing its limits to retain its holders, but nothing is paying them off.
To make the Avalanche (AVAX) blockchain ecosystem more useful, the Avalanche team has upgraded “AvalancheGo” to “Banff 5” by introducing direct communication between blockchains built over the Avalanche (AVAX) network (called subnets). Avalanche (AVAX) is one of the severely hit cryptos by the FTX collapse, which resulted in a drop of more than 25% in its price. The protocol recorded its all-time high of $146.22 on November 21, 2021, and its all-time low of $2.79 on December 31, 2020.
Eos (EOS) has failed to live up to its words
Eos (EOS) is an open-source blockchain-based smart contract platform that supports industrial-scale applications. Eos (EOS) promises to provide a fast, reliable, and efficient ecosystem to build large-scale applications; however, it fails to fulfil its promise. Eos (EOS) holders have encountered multiple platform errors since its inception.
Currently trading at $0.8868, Eos (EOS) is 96.12%, down from its all-time high of $22.89. Eos (EOS) decline could also result from the bearish market and the strong competitors entering the market. Eos (EOS) has lost steam recently, leaving its holders disappointed.
Snowfall Protocol (SNW) price skyrockets by 400%
From its inception price of $0.005, Snowfall Protocol (SNW) is currently selling at $0.14, which is a whopping rise. The third presale round of Snowfall Protocol (SNW) is going on; however, the tokens are almost sold out. Snowfall Protocol (SNW), known for its unique cross-chain asset transfer ecosystem, is also getting an NFT cross-chain ready to expand the reach and accessibility of NFTs and enhance interoperability between different blockchains.
Snowfall Protocol’s (SNW) team never fails to understand and implement the current market requirements, which helps the project grow continuously, irrespective of the bearish market conditions. According to experts, Snowfall Protocol (SNW) is expected to rise by 5000% in the near future.
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