Snowfall Protocol, Safemoon and Filecoin – The next big development in the crypto space
If you are a crypto investor, you need to stay up to date with the latest developments in the crypto world. It is more of a professional requirement. But if you are not a full-time trader, it is not possible for you to spend hours browsing through all the news in the De-Fi space. You should instead look at the macro trends in the market to make long-term investments. Here are some tokens you can direct your focus to.
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Snowfall Protocol (SNW)
Snowfall Protocol (SNW) is a young cryptocurrency that launched only in 2022. Despite being a new crypto, Snowfall has created massive buzz in the market and stayed on top of the new generation of cryptocurrencies in the De-Fi space . The primary driver of its popularity is the fact that the Snowfall Protocol (SNW) makes interoperability work.
The proof is in the pudding. Snowfall Protocol (SNW) opened at an 80% premium in the pre-sale stage. At the time of launch, Snowfall is expected to jump 500 times its pre-sale value.
In fact, Snowfall Protocol (SNW) has been responsible for the upward movements of tokens such as FLOW and Apecoin. Both tokens are well known in the crypto world with solid support. As the Snowfall Protocol (SNW) connected both coins to Snowfall’s blockchain bridge, the prices of both tokens drifted.
With each passing month, Snowfall Protocol (SNW) sets new records. It will be exciting to see how it will continue to rise upwards and earn returns for its investors.
Safemoon
Safemoon is a DeFi token built on the Binance Smart Chain. Safemoon is possibly the most popular meme coin after Dogecoin and Shiba Inu. The main focus of Safemoon is to encourage retention. It achieves its goal by charging a high fee on all Safemoon transactions. Interestingly, every time an investor sells Safemoon, the owners receive a dividend, which becomes a source of passive income.
While Safemoon has no real utility, its founders claim it is the fastest growing cryptocurrency of the year. Any price increase that Safemoon surprisingly experienced was due to the support of high-profile investors, including Logan Paul, Jake Paul, Nick Carter, Lil’ Yachty and DJ Afrojack. In April 2022, when the coin was at its peak, the top crypto exchanges had to stop withdrawals as investors rushed to invest in Safemoon.
Filecoin
Filecoin has been around since 2014. But it started trading actively only in 2020. The decentralized network of Filecoin enables its users to rent or even buy storage space on their networked computers. Those who hold the computer space are remunerated in Filecoins.
Filecoin saw an incredible bull run in the first few months. In 2021, the momentum was so high that Filecoin reached $237.24 and was expected to go above $350. But the buzz surrounding the token fizzled out, and Filecoin’s price fell to single digits. It has not reached the lofty heights of 2021, but the coin is holding steady at $5.22 at the time of writing.
At this price point, many experts believe that Filecoin is an excellent coin to buy for those who cannot invest in much more expensive Bitcoin or Ethereum. It is unclear when Filecoin may have its subsequent bull runs, but when it does, it will leave a trail of happy investors as it did in the past.
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