Place/Date: – January 6, 2023 at 7:06 am UTC 4 minute read
Source: Snowfall Protocol
After Elon Musk broke his silence in response to a user poll on Twitter asking him if he should step down as CEO of the social media company, the value of Dogecoin (DOGE) has steadily declined.
The privacy-based Mimblewimble Extension Blocks (MWEB) update to Litecoin (LTC), which was completed in May 2022 and increased the possibility of the coin becoming the preferred payment method for private transactions, has been the biggest update ever. of Litecoin (LTC) this year. On the other hand, a new entrant, snowfall protocol (SNW), is doing very well in stage 3 of pre-sale.
Dogecoin (DOGE) Performs Poorly After Elon Steps Down as Twitter CEO
Elon Musk posed the question on Twitter on Monday, receiving more than 17.5 million responses over the course of two days. 57.7% of voters would like to see the billionaire step down as CEO of Twitter, according to the final results, while 42.5% do not. Following his announcement, the price of Dogecoin (DOGE) fell. After buying Twitter in November, Musk has controlled the company for about two months.
His influence on the platform during that time has been significant and divisive. Dogecoin (DOGE) price movement closely follows Musk’s online and offline activity. Dogecoin (DOGE) hit a market high of $0.11172 on Dec. 5; however, mounting selling pressure since then has led to a 37% drop, which hit a low of $0.07003 on December 19.
The current price of Dogecoin (DOGE) is $0.07, with a 24-hour trading volume of $484 million. In the last 24 hours, Dogecoin (DOGE) has decreased by 3.44%. Dogecoin (DOGE) has been underperforming given some level of the token’s reliance on Elon’s activities, which may be a sign of concern for investors.
Litecoin (LTC) MWEB Update Turns Out to Be Among the Biggest of the Year
The biggest improvement to date for Litecoin (LTC) is MWEB. In May 2022, the privacy enhancement that was first proposed as a Litecoin (LTC) enhancement idea in 2019, was put into practice. The MWEB protocol, which can be used to transmit coins to the extended block and back to the primary chain, is described as an extension of the Litecoin (LTC) network on the company’s website.
Users would have the option of sending private Litecoin (LTC) payments, with which the amounts sent are only known to the sender and recipient, according to information on the project’s website. The change will also allow MWEB addresses to hide account balances and increase the speed of transactions on the Litecoin (LTC) network.
However, the addition of the privacy option has brought some criticism to Litecoin (LTC). Centralized cryptocurrency exchanges in South Korea have removed Litecoin (LTC) from their platforms, citing the risk of money laundering and public endangerment through anonymous digital asset transactions, according to a Bithumb press release. With a 24-hour trading volume of $481 million, the live price of Litecoin (LTC) is $67.68. In the last 24 hours, Litecoin (LTC) is down 3.17%.
Snowfall Protocol (SNW) thrives in its stage 3 presale
The Snowfall Protocol (SNW) blockchain interoperability use case has already created a lot of excitement in the cryptocurrency market. The release of a Snowfall Protocol (SNW) dApp prototype is one of the main factors contributing to its success. Investors trust the ability of the Snowfall Protocol (SNW) platform to deliver on its promise to offer a scalable and decentralized blockchain solution.
Due to strong demand and sellouts, Stage 2 of the Snowfall Protocol (SNW) pre-sale ended one day earlier than planned. The final phase of the pre-sale will end on January 3, 2023, and analysts are optimistic about the exceptional success of Snowfall Protocol (SNW). Analysts predict that Snowfall Protocol (SNW), currently trading at $0.14, could soar 5,000% upon its official launch.
Snowfall Protocol (SNW) is doing very well, and investors are suggested to buy to take profits in the near future. While Dogecoin (DOGE) and Litecoin (LTC) have a lot going for them, their performance still looks dismal.
Get in while you can and invest in Snowfall Protocol (SNW) today!
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