Avalanche (AVAX), NEO (NEO), or Snowfall Protocol (SNW): Which Coin Should Win a Seat in Your Portfolio This Week?
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Snowfall Protocol (SNW), Avalanche (AVAX), and Neo (NEO) created waves in the cryptocurrency market during their respective launches. However, while Avalanche (AVAX) and NEO have not been able to keep their investors happy for long, Snowfall Protocol (SNW) is proving to be a great investment even before its official launch. So, if you have space in your portfolio, here is a lowdown on which crypto you should invest in this week.
Avalanche (AVAX) is a layer 1 blockchain. It hosts dApps and networks, creating a scalable architecture. Such a setup allows its users to deposit crypto into smart contracts and then earn from the yields. Avalanche (AVAX) initially generated a lot of interest, with daily transactions almost touching the 1 million mark. However, Avalanche (AVAX) could not retain the engagement, and the daily transaction volume suddenly fell out of the sky. The sudden drop was mirrored by its prices too. Investor confidence also went down, leading to further losses for Avalanche (AVAX).
Every time the price falls, its support levels go lower. The buyers are losing the little faith they had in Avalanche (AVAX). The selling pressure is taking the prices to new lows for Avalanche (AVAX).
NEO is another blockchain developed in China that initially generated a lot of interest. NEO is essentially a smart contract platform like Ethereum that supports the development of dApps and other digital assets. NEO is a cryptocurrency that is used to provide incentives to contributors in the NEO smart economy.
The NEO project lost its initial momentum because of the Chinese crackdown on crypto trading. The team had to shift their
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