Snowfall Protocol Shines Amidst Bearish Pressure as Cardano and Solana Struggle
• Cardano (ADA) and Solana (SOL) have experienced several setbacks this year and investors are searching for new investments.
• Snowfall Protocol (SNW) is one such investment that has provided good yields to its early investors even under bearish pressure.
• Cardano (ADA) had a stellar 2021, reaching a market capitalization of $97.52 billion and an all-time high of $3.03 in September 2021.
Cryptocurrency investors have been left disillusioned this year as two once-promising crypto projects, Cardano (ADA) and Solana (SOL), have been plagued by several setbacks. These investors are now on the lookout for new investments that could provide them good returns. One such project that has gained traction lately is Snowfall Protocol (SNW), which has managed to hit an all-time high of $0.17 in the past few days.
Cardano (ADA) had a stellar 2021, with the bulls driving a 691% price increase in the calendar year and peaking at a market capitalization of $97.52 billion and an all-time high of $3.03 in September 2021. But, since the bears took control of the crypto market, Cardano has underperformed, taking a huge hit, and is currently trading at $1.56, down from its all-time high by an overwhelming 48.3%.
Solana (SOL) has been having a similarly tough time this year. After peaking at a market capitalization of $19.93 billion and an all-time high of $44.41 in April 2021, Solana is currently trading at $19.83, a 56.1% drop from its all-time high.
In contrast to the performance of Cardano and Solana, Snowfall Protocol (SNW) has been doing extremely well. SNW is a new blockchain protocol that enables users to create digital assets and decentralized applications. SNW has been slowly gaining traction and in the past few days, it has managed to hit an all-time high of $0.17, providing huge returns to its early investors even under bearish pressure.
Overall, while Cardano and Solana have been struggling this year, Snowfall Protocol has provided a much-needed glimmer of hope to investors. SNW is a promising project and is worth keeping an eye on.