Dogecoin (DOGE) Performs Poorly after Elon Steps Down as Twitter CEO, Litecoin (LTC) Got an MWEB Upgrade This Year While Snowfall Protocol (SNW) Performed Well in Presale Stage 3
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After Elon Musk has broken his silence in response to a user poll on Twitter asking whether he should resign as CEO of the social networking firm, the value of Dogecoin (DOGE) has been steadily declining.
The privacy-based Mimblewimble Extension Blocks (MWEB) upgrade for Litecoin (LTC), which was completed in May 2022 and increased the currency’s possibility of becoming the preferred payment method for private transactions, has been Litecoin’s (LTC) biggest upgrade this year. On the other hand, a new entrant, Snowfall Protocol (SNW), is performing very well in presale stage 3.
Dogecoin (DOGE) Performs Poorly after Elon Steps Down as Twitter CEO
Elon Musk asked the question on Twitter on Monday, and it received over 17.5 million responses in the course of two days. 57.7% of voters would like the billionaire to leave his position as CEO of Twitter, according to the final results, while 42.5% do not. Following his announcement, Dogecoin’s (DOGE) price fell. After buying Twitter in November, Musk has controlled the company for about two months.
His influence on the platform over that time has been both significant and divisive. The price movement of Dogecoin (DOGE) closely follows Musk’s online and offline activity. Dogecoin (DOGE) reached a market high of $0.11172 on December 5; however, growing sell pressure since that point has led to 37% decline, which reached a low of $0.07003 on December 19.
The current Dogecoin (DOGE) price is $0.07, with a $484 million 24-hour trading volume. In the past 24 hours, Dogecoin (DOGE) has decreased by 3.44%. Dogecoin (DOGE) has been performing poorly given certain level dependence of the token on Elon’s activities, which can be a sign of worry for investors.
Litecoin’s (LTC) MWEB Upgrade Happens to Be Among the Biggest of the Year
The biggest improvement to date for Litecoin (LTC) is MWEB. In May 2022, the privacy enhancement that was first proposed as a Litecoin (LTC) enhancement idea in 2019, was actually put into action. The MWEB protocol, which may be used to transmit coins to the extended block and back to the primary chain, is described as an extension of the Litecoin (LTC) network on the company’s website.
Users would be given the choice to send private Litecoin (LTC) payments, with which the quantities sent are known only to the sender and recipient, according to information on the project’s website. The change will also enable MWEB addresses to conceal account balances and boost transaction speed on Litecoin (LTC) network.
The addition of the privacy option has, however, brought Litecoin (LTC) some criticism. Centralized cryptocurrency exchanges in South Korea have removed Litecoin (LTC) from their platforms, citing the risk of laundering money and public endangering through anonymized digital asset transactions, according to a press release from Bithumb. With a 24-h trading volume of $481 million, the live price of Litecoin (LTC) is $67.68. In the past 24 hours, Litecoin (LTC) has decreased by 3.17%.
Snowfall Protocol (SNW) Flourishing in Its Presale Stage 3
The blockchain interoperability use case of Snowfall Protocol (SNW) has already created a lot of excitement in the cryptocurrency market. The release of a dApp prototype of Snowfall Protocol (SNW) is one of the main factors contributing to its success. Investors trust in Snowfall Protocol (SNW) platform’s capacity to deliver on its promise of offering a decentralised scalable blockchain solution.
Due to strong demand and sell-out, stage 2 of Snowfall Protocol (SNW) presale ended one day earlier than planned. On January 3, 2023, the final phase of the presale will end, and analysts are optimistic about Snowfall Protocol’s (SNW) exceptional success. Analysts predict that Snowfall Protocol (SNW), which is currently selling at $0.14, might soar by 5000% following its official launch.
Conclusion
Snowfall Protocol (SNW) is doing great, and investors are suggested to buy-in to reap the profits in the near future. While Dogecoin (DOGE) and Litecoin (LTC) have a lot going on for them, their performance still seems bleak.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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