DeFi tokens like Chainlink (LINK) and Curve DAO (CRV) are crashing, Snowfall Protocol (SNW) is seeing double-digit daily growth

It’s no secret that the crypto market is in free fall for most of the year. After hitting historic highs, the market collapsed. However, an interesting trend has emerged in recent months. Some of the most popular tokens like Chainlink (LINK) and Curve DAO (CRV), which were once considered darlings of whale investors, have lost investor confidence en masse. Surprisingly, upstarts like Snowfall Protocol (SNW) are leading the market rally. Let’s see what happens with these tokens.

chain link (LINK)

Chainlink (LINK) enables universally connected smart contracts by allowing blockchains to interact with external data sources. Many blockchains rely on Chainlink to provide real-world data on events, payments, etc. Chainlink enables the fast execution of smart contracts without third-party involvement. Although Chainlink offers strong utility, it has had major problems attracting funding. The recent introduction of staking on the platform has had little noticeable impact on the price chart.

Currently, Chainlink has reached a support price near $5.5 and is trading sideways. If Chainlink breaks $4.8, it will be another free fall for the token. These are dangerous times to be a Chainlink investor.

Curve DAO (CRV)

Curve DAO (CRV) is a decentralized cryptocurrency for stablecoins. Curve DAO acts as an automated market maker (AMM), trying to get the best prices for both buyers and sellers with no order book. By offering staking and yield farming opportunities for users, Curve DAO provides the liquidity needed to execute fast transactions on its platform. And CRV is Curve DAO’s governance token, giving token holders voting rights over the decision-making process of the future of the platform.

In theory, Curve DAO offers several advantages that should make it a big hit among investors. However, Curve DAO’s big day was launch day. Since then, Curve DAO has been racking up nothing but losses. Also, the collapse of FTX, which gave many dexes a sudden boost in the arm, had no lasting positive impact on Curve DAO. Most investors have written off Curve DAO as a bad investment.

Snowfall Log (SNW)

Snowfall Protocol (SNW) is an interoperability bridge that connects multiple blockchains. It is the most ambitious project trying to create an interconnected multiverse where users can buy or win NFTs on one platform and use them on another. The Snowfall Protocol (SNW) vision has captured the imagination of retail investors and whale investors alike.

It has already done so during the three rounds of sales that Snowfall Protocol (SNW) has held generated over $3 million in funding. Snowfall Protocol (SNW) offers several other benefits such as staking, yield farming, token swapping, liquidity for transactions, lending, borrowing, etc. Although the platform is scheduled to launch in early February, Snowfall Protocol (SNW) has already released a beta dApp on the Blockchain to give developers a glimpse into the future. Between the pre-sale and the stage 3 sale, the price of SNW increased by over 450%. Naturally, Investors are rushing to buy the token. Its double-digit growth yesterday is hardly surprising.

Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Presale: https://presale.snowfallprotocol.io
Twitter: https://twitter.com/snowfallcoin

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