Snowfall Protocol (SNW) Stage 2 Of Presale Is Sold Out, While Huobi and Dogecoin Drop!
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2022 has been a roller coaster ride for digital currencies. Most cryptocurrencies like Huobi (HT) and Dogecoin (DOGE) have been rising and then crashing down. However, even with the chaos in the market, there are still a few cryptocurrencies that have managed to make a name for themselves and attract the attention of investors. One such coin is the Snowfall protocol (SNW).
In this post, we will dive deeper into Snowfall Protocol (SNW), what it is, and why it has become a buzzword in the crypto space.
Snowfall Protocol (SNW)
Snowfall protocol (SNW) is a blockchain-based solution created to simplify the process of communication between blockchains. Snowfall protocol (SNW) is aimed at eradicating the technical barriers between different blockchains and allowing users the same usability to engage within their favorite projects.
Snowfall protocol (SNW) is the first ever cross-chain transfer ecosystem designed for fungible and non-fungible tokens. The protocol has a dApp that enables users to swap assets across most blockchains. Snowfall protocol (SNW) has recently released a preview of the dAPP. You can check it out on the snowfall protocol’s (SNW) main website.
Although Snowfall protocol (SNW) is a new coin in the crypto market, it has already gained the support of many investors. So far, Snowfall protocol (SNW) has sold over 100 million coins. The coin is currently in its third phase of the presale. The second phase of the Snowfall protocol’s (SNW) presale sold out a day early and raised more than $3 million.
Crypto analysts speculate that Snowfall protocol (SNW) will continue to grow as a coin and make massive profits for investors.
Huobi Token (HT)
Huobi token (HT) is the native token of the Huobi (HT) Global cryptocurrency exchange. The Huobi (HT) cryptocurrency exchange was founded in 2013 to provide people residing in Mainland China and beyond with a platform where they can trade cryptocurrencies.
However, due to changing crypto legislation in China, Huobi had to move outside China. Huobi (HT) Global was incorporated in Seychelles with its headquarters in Singapore.
The Huobi (HT) cryptocurrency exchange was very successful in building a large user base outside mainland China. This was mostly because the project was able to provide more liquidity than other exchanges.
Huobi (HT) token has been one of the most traded tokens in cryptocurrency exchanges. Investors have previously considered the Huobi (HT) token as a safe investment option and heavily invested in the coin.
However, since the beginning of the current crypto market collapse, Huobi (HT) has dropped in value significantly.
Dogecoin (DOGE)
Dogecoin (DOGE) is a meme coin created as a way of making fun of traditional cryptocurrencies such as Bitcoin. The name Dogecoin (DOGE) was created out of a famous internet meme. Dogecoin’s (DOGE) logo features a Shiba Inu (SHIB) dog, which was also inspired by a meme.
Unlike other coins that have a finite supply, Dogecoin (DOGE) has an unlimited supply. 10,000 Dogecoin (DOGE) are mined every minute which drastically improves the number of coins available for trade at any minute.
Throughout its existence, Dogecoin (DOGE) has managed to create a community of die-hard fans.
However, as an investor, it is important to note that Dogecoin (DOGE) lacks intrinsic value. For this reason, the value of Dogecoin (DOGE) is based solely on speculation and is therefore affected by the news.
As an investor, you want to invest in a cryptocurrency that is backed by a strong project. This way, you are sure that the cryptocurrencies value will increase as the project continues to provide value. This is not the case with Dogecoin (DOGE).
Final Word
Huobi (HT) and Dogecoin (DOGE) are well-established coins that have been around for quite some time. Both coins have managed to make a name for themselves, Huobi (HT) as the main token of the Huobi (HT) global crypto exchange and Dogecoin (DOGE) as a meme coin. However, snowfall protocol (SNW) has already proven to be a worthy investment right from the beginning. Analysts predict that Snowfall Protocol (SNW) will quickly rise to become a top cryptocurrency in the coming years.
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