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The cryptocurrency market is volatile and unpredictable, with prices fluctuating rapidly and radically. This makes it difficult to decide which tokens are worth investing in, and which ones will eventually fail. A few of the more notable projects include the Snowfall Protocol (SNW) that surged by 80% recently, while Fantom (FTM) and Near Protocol (NEAR) plummeted in value. What is causing these large fluctuations? Read ahead to find out.
Fantom (FTM) is one of the worst-performing crypto assets this year. Fantom (FTM) price has declined by almost 95% in the last 12 months and the future remains unpredictable. While the fall in value may be alarming, it is not the only reason for Fantom's (FTM) woes. Fantom's (FTM) decline has been accelerated by the departure of key personnel, Cronje and Nell, which coincided with fierce competition from other networks like the Snowfall Protocol (SNW). In recent months, Fantom's (FTM) competition has intensified as some of these networks have announced new partnerships or launched their digital tokens. These developments have made it difficult for Fantom (FTM) to attract investors and maintain Fantom's (FTM) position as a leading blockchain platform in the crypto market.
The NEAR currency is used exclusively on the Near Protocol, which is a blockchain network that facilitates the creation of decentralized applications in an easy-to-use manner for programmers. The Near Protocol (NEAR) token is used to pay for the use of the network and can be staked to increase the safety of the network. However, since its inception, Near Protocol (NEAR) has exhibited signs that it is not as stable as it could be. There hasn't been any significant progress on developing the actual protocol since December last year, which has caused prolonged scepticism among backers and developers alike, for Near Protocol (NEAR). Additionally, Near Protocol (NEAR) also lags behind similarly designed projects in terms of technical features and functionality. Overall, these factors have resulted in Near Protocol's (NEAR) 40.37% decrease in price over the past month. Near Protocol (NEAR) is currently trading at $.1.76, down from $3.44.
The Snowfall Protocol (SNW) token price has increased by over 500%, from $0.005 to $0.045, during the presale period. The inability to communicate between different blockchains is now a major issue. This makes it challenging for consumers to gain access to, and make effective use of, dApps. Snowfall Protocol (SNW) purpose is to provide a secure, transparent, and efficient multi-chain communication platform for users, businesses, and developers. By doing so, users of both, EVM-compatible and non-EVM-compatible blockchain networks, will be able to trade assets with one another by using the Snowfall Protocol (SNW). The first round of Snowfall Protocol's (SNW) presale was sold out quickly. Snowfall Protocol's (SNW) second phase is about to sell out pretty soon too, and with high gains. Many industry experts believe that the Snowfall Protocol (SNW) might witness a 1000x increase in value when it is released.
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
