From a crypto whale coming in to save the sinking DCG ship to Cardano (ADA) following in the footsteps of Polkadot (DOT) and market analysts unearthing a hidden crypto gem—Snowfall Protocol (SNW) — for you, this article brings you the latest and trending in the cryptoverse.
Cryptopreneur Justin Sun Might Invest $1B In DCG’s Assets but After Conducting Due-Diligence
Justin Sun is interested in the assets of Digital Currency Group (DCG), the parent company of crypto lender Genesis.
According to reports, the crypto entrepreneur and founder of blockchain network Tron (TRX) is willing to spend up to $1 billion of his own money to purchase some of DCG’s assets “depending on their evaluation of the situation.”
Genesis froze withdrawals in November to avoid bankruptcy after the collapse of crypto firms Three Arrows Capital and FTX. DCG owes creditors approximately $3 billion and is now looking to sell a portion of its portfolio to raise funds. DCG has over 160 crypto-related companies.
IOG, Cardano Developer Deploys Sidechain Toolkit to Boost Network
Cardano’s (ADA) parent company, Input Output Global, has announced the release of a toolkit for creating custom sidechains to enable developers to create niche blockchains on the Cardano (ADA) ecosystem.
The toolkit will enable sidechains to benefit from Cardano’s (ADA) security and decentralization while also receiving support from the thriving Cardano community. Cardano joins Polkadot (DOT) in providing a platform for developers to experiment with applications in a live environment without jeopardizing the core network.
According to IOG, the toolkit’s goal is to make Cardano more scalable and improve its capabilities without risking the mainnet’s stability or security. The toolkit makes it possible to build sidechains, each of which has its own consensus algorithm. As a result, applications built on a sidechain won’t be subject to Cardano’s (ADA) network rules and will instead be connected to the main chain through a bridge that enables asset transfers between the chains.
Experts Advise Adding Snowfall Protocol to Your Crypto Portfolio In 2023. Here’s Why
The cryptocurrency market is showing signs of potential recovery, and if you’re wondering what crypto coins to add to your portfolio in 2023, it may be a good idea to look for promising altcoins during their presale periods. This is because presale prices are huge bargains compared to prices at the time of their exchange listing. One such coin that market analysts speak highly of is Snowfall Protocol (SNW).
Snowfall Protocol (SNW) is a multichain protocol that allows different blockchain networks to communicate with one another. This means that different blockchains, such as Ethereum and Tron (TRX), can communicate and share data, opening up a whole new world of possibilities for decentralized apps and projects.
Snowfall Protocol (SNW) uses a proof-of-stake mechanism to provide scalability and flexibility that many other blockchain platforms do not. The native coin of Snowfall, SNW, serves as the governance token and can be staked to earn rewards.
But why should you care about Snowfall Protocol and SNW?
The interoperability narrative is taking off, and multichain-focused ecosystems with solid fundamentals are likely to be the next blue chip. Despite being in the early stages, Snowfall Protocol (SNW) has a seasoned team, a unique model, and a significant market presence.
But perhaps Snowfall Protocol (SNW) still being in the presales is good for you. It means there is still time to invest in the project at a discounted price. Snowfall Protocol (SNW) will go live in two weeks on February 3, so now is the best time to invest.
After jumping 400% in the first two weeks of 2023, metrics and market analysts predict that Snowfall Protocol looks strong for up 5000% returns. Invest in Snowfall Protocol (SNW) today and watch your fortune grow in 2023.
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