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A lot has happened in the Crypto market recently. Some cryptocurrencies showed amazing price rises, while others became prey to hacking. Solana (SOL) DeFi exchange lost millions due to hackers’ unethical penetration into the network. On the other hand, Ethereum Classic (ETC) has been delisted from the biggest crypto trading platform, Coinbase. Among all these, a new Crypto, Snowfall Protocol (SNW), has been performing beyond creators’ expectations.
Keep reading ahead to learn about Solana (SOL), Ethereum Classic (ETC), and Snowfall Protocol (SNW) in detail.
Solana (SOL) Lost Millions To A Hacker
The sudden downfall of FTX (FTT) made a huge impact on cryptocurrencies, especially Solana (SOL). FTX (FTT) was one of the significant backers of Solana (SOL). While Solana (SOL) was still struggling to recover from the damages, its DeFi protocol, Raydium, was hacked. There was a loss of $2.2 million worth of assets, including a $1.6 million loss of Solana (SOL).
It was terrible news for Solana (SOL) investors as Raydium is the largest DeFi protocol of Solana (SOL). The incident led many Raydium community members to withdraw entirely from the protocol.
The TVL (Total Value Locked) of Solana (SOL) on the protocol declined more than 27%, and Raydium’s native token, RAY, dropped by 8%.
Ethereum Classic (ETC) Will No Longer Trade On Coinbase
Ethereum developers forked the Ethereum blockchain after millions were hacked from the DAO in 2016. Ethereum Classic (ETC) was created as a result of the forked network. The decision to fork the blockchain was made after the majority of developers voted in its favor. The aim was to restore the lost funds to the hacked accounts.
Ethereum Classic (ETC) represents the old Ethereum blockchain token, while Ether represents a new token. Over the years, Ether became more popular among holders, and Ethereum Classic (ETC) usage declined.
Ethereum Classic (ETC) lost its investor count and showed a bearish pattern for most of the period. Last month’s data shows Ethereum Classic (ETC) and USD pair dropped by 14.16% and its 1-year performance is 53.62% down. Additionally, the Ethereum Classic (ETC) price prediction estimated a 7.30% drop in the next 5 days.
The constant low performance of Ethereum Classic (ETC) came to the notice of Coinbase. The crypto company announced removal of Ethereum Classic (ETC) and a few other tokens from its list. The changes will be applied from January 2023. Coinbase cited that the delisting of Ethereum Classic (ETC) is happening due to its low usage.
Snowfall Protocol (SNW) Shows Consistent Raise
Snowfall Protocol (SNW) aims to build an efficient interoperable cryptocurrency market. Its cross-chain asset transfer approach allows users to swap assets among different blockchain networks without any hindrance. Snowfall Protocol (SNW) covers all categories of the crypto market, including infrastructural cryptocurrencies, DeFi, NFTs, and stablecoins.
Snowfall Protocol (SNW) runs stress tests, security checks, and analysis for weeks before a project launch to ensure a secure, interoperable platform.
Snowfall Protocol (SNW) is yet to launch, but its presale price has already spiked. Snowfall Protocol (SNW) was selling at $0.005 at the beginning of the 1st presale stage, which quickly raised to $0.025. Its 2nd presale stage was sold out a day earlier, which was a huge success for Snowfall Protocol (SNW). The 3rd Snowfall Protocol (SNW) presale stage is live, and the token price has surged to $0.14.
Snowfall Protocol (SNW) has shown 400% gains, and experts expect it to provide 5000% gains after the final launch. Thus, the future seems bright for the Snowfall Protocol (SNW). Thus, if you are looking to park your capital in crypto, be an early buyer of Snowfall Protocol (SNW) and gain maximum returns.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!