Even as some fiat currencies are losing value against the US dollar amid gloomy economic forecasts, the cryptocurrency market has shown resilience after suffering one of the worst crashes in May this year. Many top-ranking cryptos like Bitcoin, Ethereum, and Shiba Inu (SHIB) have managed to trade in a stable range for several weeks, while new tokens like Aptos (APT) and Snowfall Protocol (SNW) have surged quickly.
The rising popularity of new projects like Aptos and Snowfall Protocol shows the crypto market still has a strong appetite for new projects solving some of the biggest blockchain issues. In this article, we look at how Aptos, Snowfall Protocol, and Shiba Inu perform.
Aptos (APT) price stabilizes after initial dump
Within a few days of launch, Aptos has emerged as the top trending cryptocurrency on CoinMarketCap. Aptos is a new blockchain network providing a novel layer-1 chain. Built by former Meta employees, Aptos has been proclaimed, by many in the crypto industry, as a “Solana Killer.”
Aptos was in the making for four years focusing on scalability, safety, reliability, and upgradeability. APT started trading on Wednesday, October 19, at a price of $13.73. The APT price dropped over 50% in the initial hours after launch, but it recovered soon as the coin reached an all-time high (ATH) of $8.55 on the same day.
At the time of writing, Aptos (APT) was trading around $7.47. Aptos is currently ranked 51st on CoinMarketCap, which is remarkable for a newly launched cryptocurrency.
Snowfall Protocol (SNW) attracts investors
Snowfall Protocol is another cryptocurrency that has gained much traction among investors. SNW is still in its first presale phase. However, the price of SNW has already jumped by 500% to $0.060 since the start of the presale. Snowfall Protocol provides a solution to one of the biggest blockchain problems: cross-chain transfer of assets.
Snowfall Protocol offers the world’s most efficient NFT cross-chain bridge and simplifies the process of communication between blockchains. Snowfall Protocol enables users to swap assets, including fungible and non-fungible tokens, across the most widely used compatible chains. Analysts believe that Snowfall Protocol (SNW) has the potential to become the next 1000x token.
Shiba Inu (SHIB) price remains stable
For a token written off as a memecoin by doubters, Shiba Inu has shown an unwavering fighting spirit since the market crash in May. Shiba Inu’s price still remains in the red, but it is largely in line with the overall bearish crypto market trend.
SHIB is currently trading at $0.00001000. Interestingly, Shiba Inu has remained stable around this price range since May, with an occasional surge to $0.00001698 on August 15.
Shiba Inu has been in the news recently as a payment option. Reports state that a German software company, SAP SE, has partnered with BitPay to pay staff in SHIB. Multiple reports also claim that Shiba Inu (SHIB) users can pay with this token on Amazon and subscribe to Netflix in some markets.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!