After making small gains across the board near the end of November, the crypto ecosystem has slowed again this month, with major cryptocurrencies trading in the red. In the weekly chart, 1INCH network (1INCH) and Curve DAO (CRV) have lost 4.51% and 6.31%, respectively. Snowfall Protocol (SNW), on the other hand, experienced a 125% price increase during the same period, with the Snowfall Protocol (SNW) rising from $0.06 to $0.075 in the final week of the second round of its presale campaign.
Whale Activity Has Caused Instability in Curve DAO DEX
Investor confidence in Curve DAO token’s (CRV) parent DEX, Curve DAO, has been tried multiple times in the last month. Making headlines were the alleged low CRV volume in Curve DAO and Avraham Eisenberg’s attempted attack.
Following a successful attack on Solana, Avi Eisenberg returned, this time targeting Aave, and Curve DAO got caught in the crossfire. Eisenberg successfully accumulated a loan on Aave for 92 million Curve DAO tokens (CRV) before proceeding to create a massive short position that would have seen Curve DAO token, CRV, crash and him bagging huge profits in the process. This time around, his attempt failed and resulted in him being the one walking away with losses instead. But panic had already spiked amongst Curve DAO token holders resulting in a mass selloff.
1Inch Vesting Contract Seemingly Failing
1Inch has continued to release updates, the most recent of which is a tool the company claims will “protect traders against malicious sandwich attacks.” But how comes 1Inch is on a fall then? The truth is that 1Inch is using the new releases and upgrades as damage control to entice exiters after it was reported that early investors had sold more than $8 million worth of 1Inch tokens.
Actually, earlier reports alleged that it was 1Inch releasing some of its holdings through the 1Inch foundation.1Inch team quickly denied these assertions and added that the transfer originated from an early investor who had made a claim under vesting contract. However, this does not help their case. Instead, it only points to a poor vesting strategy by 1Inch.
Snowfall Protocol (SNW) Has A Strong Vesting Strategy to Protect Its Community
Capitalizing on the weaknesses of the competition is one of the ways to become a notable player in the market, and Snowfall Protocol (SNW) team appears to have had 1Inch in mind when developing the project’s vesting contract. To prevent selloffs by bad actors, Snowfall Protocol has implemented a vesting plan where Snowfall Protocol (SNW)holders will receive 16.6% of their tokens each week for 6 weeks, with airdrops starting the first week after the official launch on January 3.
Snowfall Protocol (SNW) presale campaign is now in its third and final round. The first two rounds were a huge success, with round 2 even selling out a day early. When closing the second round on Friday, December 2, Snowfall Protocol (SNW) had already amassed $3 million. In the same period, the price of Snowfall Tokens had surged a whopping 750%. More upswings in the third round are expected as Snowfall Protocol (SNW)nears its official launch.
The third round is already underway with up to 50% in discounts. Join the presale at: https://presale.snowfallprotocol.io
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