There has been a lot of price movement in the crypto market lately. Snowfall Protocol's SNW token has stood out from the rest, enjoying a 300% gain in the past week while crypto exchanges Binance (BNB) and OKX (OKB) have seen their token drop. In this article, we will explore the SNW token and look at why it is a better investment option than Binance (BNB) and OKX (OKB) tokens.
OKB is the utility token of the Malta-based crypto exchange OKX. OKX users can use the OKB token to access special perks on the platform like discounted trading fees, voting, and rewards for holding the token. OKB's price rallied over 10% after the world's richest man Elon Musk followed OKX's Twitter account. However, this pump was short-lived as the coin has retraced. Such pumps exemplify what crypto users have become accustomed to for tokens that don't provide real utility to the community. Furthermore, FTX's collapse has shown crypto investors the risk associated with investing in exchange-owned tokens. That explains why these crypto investors have sought to look elsewhere to coins like the Snowfall Protocol (SNW) token that provides valuable functionality to its users without having exposure to risky assets like a crypto exchange's token which the SEC could easily qualify as a security like it did with FTX.
Binance's BNB token plunged following questions about the crypto exchange's financial health, which has left customers wondering if their funds are indeed safe. Many analysts have also questioned the authenticity of Binance's (BNB) proof-of-reserves which has further raised doubts. It doesn't matter if this is just FUD or not as FTX's collapse is still fresh in the minds of many and they are afraid to make a similar mistake with another crypto exchange. As such, they are withdrawing their money from centralized exchanges and moving it to self-custody wallets. This situation further highlights how it may be best to stay off tokens like Binance (BNB) as they could easily go to zero if the centralized institution issuing it goes to ground. For instance, Binance (BNB) has plunged 20% following the ongoing FUD and BNB risks dropping further if these rumors don't go away anytime soon. No one wants to get caught in the Binance (BNB) crossfire and are looking to more decentralized tokens like Snowfall Protocol's SNW token.
Snowfall Protocol (SNW) is currently on everyone's lips, with its SNW token up 300% this past week. Snowfall Protocol (SNW) provides a cross-chain bridge, compatible with EVM and non-EVM chains, which allows users to bridge their fungible and non-fungible assets across different chains. Snowfall Protocol's functionality is over the top and with the release of its whitepaper, investors are doubling down on their investment as they believe this is the tool needed to help solve the issue of blockchain interoperability.
Phase one and two of the token's presale stage have already sold out, with Snowfall protocol selling over 195 million SNW tokens to date. Fortunately, you can still get in on this opportunity to make life-changing money; The third phase of the presale stage is currently ongoing and it is best to get in quickly as the tokens are projected to sell out before the official closing date of January 3rd. Experts have also tipped SNW to climb up by over 5000% after its launch. Sign up here and invest in the Snowfall Protocol while you still can!
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. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.