Investors watch their crypto investments closely. They hang on to every word uttered by the founders and promoters of crypto. And every fulfilled promise by them leads to greater trust in the cryptocurrency. When promises do not pan out, trust deficit creeps in. For instance, Chainlink (LINK) and Curve Dao Token (CRV) are finding it difficult to retain investor confidence. They are simply unable to deliver what they have promised. On the other hand, cryptos like Snowfall Protocol (SNW) are not just meeting their promises; they are exceeding expectations. Let’s find out in more detail what is happening with these in-news cryptocurrencies.
Chainlink (LINK)
Chainlink (LINK) is a decentralized network launched on the Ethereum blockchain. The blockchain powers the network through data providers that are known as oracles. This way, Chainlink (LINK) links third-party data sources to smart contracts on the blockchain. LINK or the Chainlink (LINK) tokens are awarded to oracles who provide accurate data for smart contracts.
Chainlink (LINK) prices have always remained extremely volatile. It can rise during the day and completely crash by morning. The recent collapse in the Chainlink (LINK) price actually comes after Chainlink (LINK) introduced staking as part of an upgrade. The developers did not deliver the staking upgrade in the promised timeframe. It raised the question of whether Chainlink (LINK) developers could deliver the products they have been promising for a long time now. Even with the staking going live, Chainlink (LINK) is in a downtrend, which is not a good sign for investors.
Curve Dao Token (CRV)
Curve Dao Token (CRV) is a governance token for Curve, which is a decentralized exchange. The coin has maintained more or less a low profile. But it started sinking after a sudden increase in the number of coins with centralized trading platforms. It means that Curve Dao Token (CRV) has been made available at various exchanges for liquidation. So, sellers are getting ready to get rid of their Curve Dao Tokens (CRV) by transferring them from their wallets to centralized exchanges.
Given the lack of incentive to carry Curve Dao Token (CRV) for investors, the value of Curve Dao Token (CRV) can go completely for a toss. In the best-case scenario, Curve Dao Token (CRV) will remain highly volatile. Below par user engagement for Curve after the fall of FTX has also led to the downfall of the Curve Dao Token (CRV).
Snowfall Protocol (SNW)
Snowfall Protocol (SNW) has already created a lot of positive buzz in the market with its use-case of blockchain interoperability. Even before its launch, Snowfall Protocol (SNW) has successfully put forth a prototype for a dApp on the blockchain. This has resulted in reinforced investor confidence.
The presale for Snowfall Protocol (SNW) has already been one of the most successful crypto drives of 2022. Their stage 2 of sale had to be closed a day early because Snowfall Protocol (SNW) was completely sold out. With Stage 3 in full swing and upcoming launch on January 3, 2023, experts are highly optimistic about the incredible performance of the Snowfall Protocol (SNW).
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin