Can Snowfall Protocol rise faster than Uniswap and Quant?
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The recent implosion in FTX exchange has put the spotlight on the vulnerabilities of centralized cryptocurrency exchanges. Hardcore crypto believers have always argued that centralized exchanges are subject to human manipulations.
The FTX episode has proven them right. As users are now looking for safer exchanges, decentralized platforms have emerged as direct gainers of the FTX collapse. One such exchange is Uniswap (UNI), which has seen a surge in Ethereum (ETH) transactions.
After burning money in crypto market crashes this year, investors are also looking for new assets for stable gains. While Quant (QNT) token seems to be attracting some users, there is also a new project, Snowfall Protocol (SNW), which is quickly gaining investors’ trust. This article takes a look at how Uniswap (UNI) and Quant (QNT) are performing and why Snowfall Protocol (SNW) can rise faster than them.
Quant (QNT) gains strength
Quant (QNT) is a blockchain-based platform connecting blockchains without compromising on efficiency and interoperability of the networks. Quant (QNT) was the first project that tried to solve the interoperability problem of different networks by creating a blockchain operating system.
In terms of price, Quant (QNT) has had a fair share of bullish movements in the last two quarters. After falling to $46 in June, Quant (QNT) jumped to $128 in August. Quant (QNT) token price then fell to around $90 in September. However, between September and October, Quant (QNT) price jumped around 131% to above $208 before it started correcting again.
During the recent market crash, triggered by the FTX collapse, Quant (QNT) fell to $102. However, at the time of writing, Quant (QNT) was again on a rising curve, trading at around $119, as per CoinMarketCap data.
Uniswap (UNI) gains after FTX collapse
Uniswap (UNI) is one of the most popular DeFi exchanges for crypto tokens. UniSwap (UNI) has benefitted from FTX collapse as a large number of crypto users are seen moving to decentralized exchanges for the safety of their tradable crypto assets.
Within a week of FTX collapse, Uniswap (UNI) has surpassed Coinbase as one of the most popular crypto exchanges for trading in Ethereum (ETH). Uniswap (UNI) is now second only to Binance in Ethereum (ETH) trading.
The Uniswap (UNI) token has not shown as much strength as Quant (QNT) this year, in terms of price. Uniswap (UNI) is currently trading at around $6, down over 86% from the all-time high of $44.92 on May 3, 2021. But in the wake of recent gains, following the FTX collapse, the Uniswap (UNI) token is in a strong position to rise further in coming weeks, as stability is expected to return to crypto markets soon.
Snowfall Protocol (SNW) attracts investors
While Uniswap (UNI) is restricted to only cryptocurrencies, Snowfall Protocol (SNW) takes digital asset transfer to another level. Snowfall Protocol (SNW) is the first cross-chain transfer platform that enables a seamless transfer of both fungible and non-fungible tokens. Thus, users can perform cross-chain transfers of cryptocurrencies as well as NFTs using the Snowfall Protocol (SNW) platform.
Snowfall Protocol (SNW) offers an optimal solution for multi-chain communication between blockchains. At present, Snowfall Protocol (SNW) is offering features like stable-coin bridge, NFT bridge, and staking.
Snowfall Protocol (SNW), is the native token of Snowfall Protocol (SNW). Currently in the first phase of presale, Snowfall Protocol (SNW) token price has increased by 5000% to $0.030. As the unique features of Snowfall Protocol are attracting investors, analysts are expecting that Snowfall Protocol (SNW) token could soon become a 1000x crypto asset.
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