Snowfall Protocol’s (SNW) price appreciation is forcing Binance (BNB) And Axie Infinity (AXS) To Improve

20 December 2022

Binance (BNB) drops by 6% in 24 hours

The anticipated rate hike by the Federal Reserve at their forthcoming meeting on December 14 is having an impact on many major cryptocurrencies, including Binance (BNB). Thus, investors are planning on leaving the market, thereby increasing selling pressure on Binance (BNB). Binance Coin (BNB), the utility token of the Binance cryptocurrency exchange, was trading down 3% on December 13, 2022 and 6% over the course of the last 24 hours. Just over a month after the sudden collapse of Binance’s (BNB) former rival, FTX, negative forecasts regarding the BNB price have spread, increasing the fear, uncertainty, and doubt. The possible reason for Binance’s (BNB) decline is the lack of upgrades that would warrant continued investor support. According to experts, Binance (BNB) is likely to be among the hardest hit by the selling pressure and investors should be cautious in the near future.

Axie Infinity (AXS) in a bearish spot

Since the price of Axie Infinity (AXS) dropped below the $9.50 mark, it has been unable to find any stable ground. There’s a possibility that it will be a tipping point that sends Axie Infinity’s (AXS) prices tumbling toward $3.40 or lower. The blockchain-based play-to-earn game, Axie Infinity, uses the AXS token as its in-game currency. Axie Infinity (AXS) has been trading at new lows since it hit its all time high of $166.09 in November 2021. Axie Infinity’s (AXS) value has plummeted due to the crypto winter, and other macroeconomic causes, as well as a variety of concerns plaguing the ecosystem. As a result of the decline, the price of Axie Infinity (AXS) dropped to its all-time low of $5.74 in November 2022, a shocking decrease of over 40% in a year. Over the past three months, the price of Axie Infinity (AXS) has decreased by more than $5 from its prior value of $12.96. This is a bearish indicator that suggests Axie Infinity’s (AXS) downward trend may speed up.

Snowfall Protocol’s (SNW) ROI is probably the best so far

Snowfall Protocol (SNW) has been supported by a number of dedicated crypto enthusiasts today. They have been in favor of Snowfall Protocol (SNW) due to its promising potential to enable users in bridging the gaps between blockchains. To facilitate the transfer of data as well as assets between different types of blockchains, Snowfall Protocol (SNW) was developed as a cross-chain compatible bridge. Snowfall Protocol (SNW) solves major compatibility and interoperability issues for crypto users with this feature. Since no other platform offers such features, Snowfall Protocol (SNW) has been getting a lot of positive attention and is quickly gaining traction.Snowfall Protocol (SNW) had an expected presale price of $0.005, but by the time the first presale ended, the price had risen to $0.025. The cost of Snowfall Protocol (SNW) token has increased by over 300% in the last two months, reaching $0.095. There were a total of 195,000,000 Snowfall Protocol (SNW) tokens purchased during the previous presale phases and more is expected in the coming months. Snowfall Protocol (SNW) could give over 5000% returns in 2023 as per experts. Therefore, it is the right time to invest in Snowfall Protocol (SNW).