The post Top Solana NFT Collections Migrate To Polygon , Snowfall Protocol Sells 200 million+ Tokens In 2 Months appeared first on Coinpedia Fintech News
The crypto market is an exciting place to be right now. With so many new projects and coins coming out, it can be difficult to decide which one to invest in. In this article, we are going to talk about the recent developments of some of the most well-known cryptocurrencies in the market today: Snowfall Protocol (SNW), Cardano (ADA), and Polygon (MATIC).
Cardano (ADA) sharks buy up 11% of the total supply
Over the past two months, Cardano (ADA) sharks have started being active again. Beginning in early November, these Cardano (ADA) wallets have been accumulating hundreds of millions of dollars worth of tokens. As of the beginning of November, these wallets held roughly 10.5% of the entire Cardano (ADA) supply. In contrast, after purchasing an additional 330 million Cardano (ADA) tokens for a total of $83,000,000, the percentage is presently at 11.60%, almost 6 weeks later.
The major increase in shark purchases will have possible long-term effects on the value of the digital asset. The value of Cardano (ADA) is likely to rise as a result of such a large influx of investment. Although the shark movement was intended to reverse the downward trend that Cardano (ADA) has been experiencing, the current market conditions have prevented the same. In the last 30 days, Cardano’s (ADA) value has dropped 18%, to $0.26.
Solana NFT Collections to soon shift to Polygon (MATIC)
Both y00ts and DeGods, the two largest NFT collections on Solana, have stated their intention to move to other blockchain like Ethereum (ETH) and Polygon (MATIC) in 2023. Thus, Ethereum and its Layer-2 solution, Polygon (MATIC), are set to become the next stop for digital art collections. Ethereum was never questioned, but allegations quickly spread that Polygon (MATIC) had offered financial incentives to encourage projects to move to its platform.
Solana Labs’ co-founder accepted this incident in stride, commenting on claims that Polygon (MATIC) financed the projects, and DeGods founder hasn’t refuted it either. Many in the crypto community now believe that the NFT collection will not be relocated to Polygon (MATIC) for the advantages it provides, but rather because of the price paid.
Polygon (MATIC), as a cryptocurrency, has struggled in 2022. The price of Polygon (MATIC) has decreased from $1.60 a year ago to its current price of $0.81, a loss of approximately 70%.
Snowfall Protocol (SNW) favored by millions of crypto lovers
With its recent meteoric rise in price, Snowfall Protocol (SNW) has caught the eye of many eager buyers. Snowfall Protocol (SNW) is the first platform to enable fungible and non-fungible token exchange across multiple blockchains without the need for third-party intermediaries.
Snowfall Protocol (SNW) will release its dApp soon, which will allow users to trade assets across multiple, EVM-compatible and non-EVM-compatible blockchains. By return on investment, Snowfall Protocol (SNW) token ranks among the top performers in the DeFi market. Since its early presale stages, the popularity of Snowfall Protocol (SNW) has increased tremendously, leading to sales of over 200 million tokens in just two months.
Owing to the Snowfall Protocol (SNW) unique features and use case, its price has gone up by more than 400%. Upon its launch in January 2023, some analysts predict that the price of Snowfall Protocol (SNW) will have increased by 5000%. Leading market analysts predict that Snowfall Protocol (SNW) will be the next 1000x token and would completely turn the crypto market’s current situation around. At the time of writing, the price ofSnowfall Protocol (SNW) is $0.14, however, it is expected to increase dramatically in the near future.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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