Place/Date: – January 20th, 2023 at 5:10 am UTC · 3 min read
Source: Snowfall Protocol
The crypto world has witnessed the launch of 21,000+ cryptocurrencies so far, out of which only 9,000 odd cryptos survive today. This milieu of the crypto-verse where new cryptos enter and old cryptos slide into oblivion, is a fast-evolving beast. Mistakes are costly and are often paid for by crypto projects as catastrophic failures. Even established cryptos that failed to meet the growing or changing needs of their users collapsed without much fanfare. However, cryptos that continue to adapt and evolve to stay relevant to their users have succeeded over the years. Three utility tokens hope to make it big in 2023:
Cardano (ADA) Continues to Upgrade Fast
Since its launch, Cardano (ADA) has focused on continuous innovation. The third-generation blockchain was designed to overcome Ethereum’s limitations and offer developers a faster and more scalable solution for building dApps. Cardano has not only fulfilled its promise but has consistently one-upped itself. With its Vasil and Alonzo upgrades, Cardano has demonstrated its commitment to being a fast, low-cost, and highly scalable platform for crypto developers.
While most other cryptos have struggled to deliver on all three promises of De-Fi – security, scalability, and decentralization – Cardano has proved it’s possible. Unlike many other crypto projects, Cardano has not compromised on one factor to boost its utility on another front. Cardano’s steadfast commitment to De-Fi and Web3 projects has helped it recover by over 65% over the past week.
Polkadot (DOT) is Building Infrastructure for Web3
Polkadot (DOT) is an open-source multi-chain network that connects different blockchains. Polkadot is betting on a multi-chain future and has ambitions to place itself at the center of the metaverse. Polkadot is a layer-0 meta protocol that offers the foundation for developers to build and deploy layer-1 blockchains on it easily. Polkadot’s most powerful feature is its ability to rapidly upgrade the platform without resorting to hard forks. As a result, Polkadot is a continuously evolving platform with new upgrades every few weeks or months.
Polkadot can connect to other blockchains, oracles, permissionless networks, and future technologies. Polkadot can be given the capability to be interoperable with any new blockchain technology in the future. The explosive growth of blockchain adoption in 2023 will create the right conditions for Polkadot to emerge as a De-Fi leader. Whether the platform will capitalize on these conditions remains to be seen.
Snowfall Protocol (SNW) ‘s Multi-Chain Universe
Snowfall Protocol (SNW) is another crypto project that’s betting on a multi-chain universe. The interoperability bridge will initially connect stable coins with each other, before adding other cryptos to its bridge. With low gas fees, staking, yielding opportunities, lending, and borrowing facilities, Snowfall Protocol (SNW) offers a slew of benefits to users and investors. Snowfall Protocol (SNW) also offers dex services by acting as an automated market maker.
In light of all the utilities and services offered by Snowfall Protocol (SNW), its native token has shot up from its presale price of $0.065 to the current value of $0.191. The 294% growth marks just the start of an upward rally that analysts expect will hit 5,000% in the coming months. There’s still huge room for Snowfall Protocol’s (SNW) growth as it’s yet to cross $1 over the next few weeks, making it affordable for most retail investors.
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