Terra Classic (LUNC) and Solana (SOL), two troubled crypto coins, have been beaten down yet again, just as they were trying to regain investor trust.
Terra Classic (LUNC) and Solana (SOL) are the top losers this week, each with a more than 10% deficit. Snowfall Protocol (SNW) on the other hand, has extended its success run by increasing its price by more than 300%. Despite being in the presale stage, Snowfall Protocol (SNW) has won hearts and funds.
Read on for the latest on Solana (SOL), Terra Classic (LUNC), and Snowfall Protocol (SNW).
Binance Suspends Burn for Terra Classic (LUNC), Token Dumps 13%
Binance, the largest cryptocurrency exchange, has announced that it will no longer burn Terra Classic (LUNC) trade fees until March 2023. This action is in response to developments concerning the funding proposals for commodities pools 10983 and 11111, which allow for the re-issuance of terra classic (LUNC) burns as development funds.
The burn rate for Terra Luna Classic (LUNC) spot and margin trading fees will be reduced to 50% from 100% starting in December 2022, Binance announced. Furthermore, until March 1st, 2023, Binance will not send the Terra classic (LUNC) trading fee burn contribution. Binance will restrict the issuance of new Terra Classic (LUNC) trade fees until the terra classic community approves its suggestions.
Terra Classic (LUNC) reacted to these developments by dropping 13% in the first 24 hours following the news.
Solana (SOL), The Ethereum Killer, Has Dropped Below $10 For the First Time in Nearly Two Years
Solana (SOL) investors have taken another hit this week, as the “Sam-coin” fell for the tenth consecutive day on Friday, the coin’s longest losing streak. What’s more, Solana fell below $10 for the first time in nearly two years on Wednesday.
Solana (SOL), which was once lauded by the disgraced founder of the now-bankrupt crypto behemoth FTX, Sam Bankman-Fried, is now down 96.3% from its all-time high of $259.96. Since November last year, Solana’s total value locked on Solana-based applications has fallen 98%, making it one of the worst performers in 2022.
Solana’s metrics fell precipitously after the Terra network implosion in May and a market-wide drop in November amid the collapse of FTX.
Snowfall Protocol (SNW) Set to Outperform Both Terra Classic (LUNC) and Solana (SOL) in 2023 After A Successful Presale Campaign
While Terra Classic (LUNC) and Solana (SOL) are losing steam, Snowfall Protocol (SNW) is rallying hard. Snowfall Protocol’s price has increased by more than 250% in just one month. Simultaneously, the percentage of tokens sold in the ongoing third round of presales has risen to more than 85%. Snowfall Protocol (SNW) is now on track for a smooth entry into the cryptoverse on January 3, 2023, with only less than 15% of the allocated 100M tokens remaining to sell.
Snowfall Protocol (SNW) sold 195 million Snowfall Protocol (SNW) tokens and raised over $3 million in the campaign’s previously sold-out rounds one and two. The second round shone the brightest when it ended a day early after all tokens were sold out.
The most appealing aspect of Snowfall Protocol (SNW) is its utility. Snowfall Protocol (SNW) aims to revolutionize cross-chain solutions by allowing you to transfer fungible and non-fungible assets across EVM and non-EVM compatible chains. According to market forecasts, Snowfall Protocol (SNW) will easily return 1000X to early investors in 2023 and up to 5000X during the anticipated bullish rally in 2024. This is your last chance to be an early buyer. Take charge of the moment and invest in Snowfall Protocol (SNW) right now!
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