The post Snowfall Protocol Enters The DeFi Market, Giving Lido DAO And Bitcoin Cash a Run For Their Money! appeared first on Coinpedia Fintech News
Snowfall Protocol (SNW) has recently made its debut in the DeFi space and has since been grabbing eyeballs for its incredible performance. Analysts and investors have now started questioning whether Lido (LDO) and Bitcoin Cash (BCH) even stand a chance against this debutante.
Let’s take a closer look at what Lido (LDO), Bitcoin Cash (BCH), and Snowfall Protocol (SNW) bring to the table.
Lido DAO (LDO) is designed to be a liquid staking solution for Ethereum, through which users can stake ETH tokens with no minimum deposits or infrastructure maintenance. The staking rewards from these deposits can be used without lock-ups across the DeFi ecosystem. The Lido DAO builds liquid staking services and is responsible for governing the direction of Lido.
The native utility token of Lido DAO is LDO, which is used to grant DAO governance rights, manage fee parameters and distribution, and govern the addition and removal of Lido DAO node operators.
What is Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a decentralized peer-to-peer electronic cash system that enables swift payments with high transaction capacity (big blocks), privacy, and micro fees. Bitcoin Cash (BCH) blocks can go up to 32 MB, thus ensuring faster and less expensive verification of BCH transactions even as the network keeps growing.
BCH is the native token of the Bitcoin Cash (BCH) system. Users can make Bitcoin Cash (BCH) payments directly from one person to another, just like physical money, but without any interference from centralized payment processors or banks.
What is Snowfall Protocol (SNW)
The Snowfall Protocol (SNW) is a multi-chain interoperability protocol that enables secure cross-chain transactions and asset transfers between blockchains. It is built for fungible and non-fungible tokens. The mission of the Snowfall Protocol (SNW) is to enable simple and secure participation for everyone in the DeFi and cryptocurrency ecosystem.
The Snowfall Protocol dApp allows users to swap assets across EVM and non-EVM compatible chains, thus enabling communication with all blockchains.
The governance token of the Snowfall Protocol is SNW that gives users the right to vote on improvement proposals within the Snowfall DAO. SNW also serves as a utility token, giving users access to fee discounts on snowfall bridges and entry to weekly or monthly raffles.
Which token shows more potential? LDO, BCH, or SNW?
Lido DAO (LDO) reached its all-time high price of $11 on 16th November 2022. Today, a year later, the price of Lido DAO (LDO) has dropped drastically to $1.22—a reflection of the declining interest in Lido DAO’s offerings.
Bitcoin Cash (BCH) reached its all-time high price of $4,355.62 on 20th November 2017. Today, five years since then, the price of BCH has dropped to $102.60.
SNW was launched as the governance and utility token of the Snowfall Protocol, with 95,000,000 SNW tokens available at $0.005 per coin in the first presale stage. SNW increased by 80%, reaching a price point of $0.009 and eventually going as high as $0.015 by the end of the first presale stage.
On 2nd November 2022, SNW entered its second presale stage, selling at $0.025. This success of SNW in the first two stages is predicted to remain consistent in the third (last) stage, too. Based on customer purchasing behavior, the SNW price is expected to touch $0.075 by the end of the token’s last presale stage.
The Snowfall Protocol may be a newcomer in the DeFi space, but the numbers don’t lie!
In contrast to the declining performance of Lido DAO (LDO) and Bitcoin Cash (BCH), the Snowfall Protocol (SNW) is only showing positive growth, both in terms of token price and buyer sentiment. With the price point still affordable and the protocol giving away up to 5 million tokens, now is the best time to buy into the success of the Snowfall Protocol.
Learn more about Snowfall Protocol (SNW):
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