New cryptocurrencies are launched yearly, but only a few reach great heights. One such cryptocurrency is Snowfall Protocol (SNW). SNW has grown remarkably in the past three months, leaving behind the gains of tokens like Solana (SOL) and Avalanche (AVAX). In this article, we will discuss the recent developments in these three tokens and why Snowfall Protocol (SNW) is the most select token.
Fake Solana (SOL) NFTs sell on Magic Eden
Creators and collectors of Solana (SOL)-based NFTs are outraged, as a key exploit at the premier marketplace, Magic Eden, appears to permit scammers to pass off and sell fraudulent NFTs as part of notable and authentic collections. Magic Eden has published a statement claiming that over 25 fake Solana (SOL) NFTs from four collections have been sold in the past several days. Furthermore, the team is checking to see if any other Solana (SOL) NFTs were compromised. The scammers aimed for high-value Solana (SOL) NFTs. In a statement, the platform stated it has “added more verification levels per collection to remedy the issue,” and it urged impacted traders to contact support to report any suspicious activity using fake Solana (SOL) NFTs.
Nonetheless, HGE and other prominent Solana (SOL) figures said that the issue hadn’t been resolved. Since the start of this year, the value of Solana’s SOL cryptocurrency has increased by a whopping 60%. However, the Solana (SOL) token is now showing indications of depletion; thus, a price decline is possible in the near future.
Avalanche (AVAX) price soars after AWS collaboration
Ava Labs, the development team behind the layer-1 blockchain Avalanche (AVAX), along with Amazon Web Services (AWS), has launched a partnership to accelerate the widespread adoption of blockchain technology in organisations of all sizes. Avalanche (AVAX) and AWS will help make it simpler for developers to set up and maintain nodes on the Avalanche blockchain. Ava Labs plans to bring subnet deployment, or a network within a network, to the AWS Marketplace.
This would make it much simpler for businesses and other organisations to set up their private networks. The Avalanche native coin, AVAX, surged 16.2% after the announcement. Avalanche (AVAX) has gained 38.28% in the past week. During the previous 24 hours, the price of a single unit of Avalanche (AVAX) has ranged from $15.18 to $16.38. On the other hand, Avalanche (AVAX) hasn’t improved much within the past 12 months. Since its all-time high in January 2021, the price of Avalanche (AVAX) has dropped 82%.
Snowfall Protocol (SNW) becomes favourite
Snowfall Protocol (SNW) is riding high on the back of enormous expectations as it seeks to address the industry-wide interoperability issues that have plagued cryptocurrencies for years. Snowfall Protocol (SNW) is the first cross-chain transfer protocol and serves as a multi-chain canonical bridge. Snowfall Protocol (SNW) can transfer fungible and non-fungible tokens to EVM-compatible and non-compatible blockchains.
Snowfall Protocol (SNW) offers unparalleled potential for growth compared to other coins because of its novel approach to asset transfer. Over 200 million Snowfall Protocol (SNW) tokens have been sold in less than three months, shattering several previous cryptocurrency sales records. Snowfall Protocol (SNW) is a cryptocurrency that has quickly become a favourite among investors owing to its exceptional usefulness and rapid development, despite being a relatively young coin in the market.
Currently, in its final presale phase, Snowfall Protocol (SNW) is trading at $0.182, which has gone up from $0.75 in less than a month. Investors and crypto enthusiasts have shown much interest in Snowfall Protocol (SNW) given the protocol’s wide range of potential applications and prospects.
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