Table of Contents
Snowbank DAO was a DeFi project and a reserve currency protocol that aimed to enable the crypto industry to detach from the traditional finance world.
It planned to do so by enabling price flatness for a basket of assets without using fiat currencies. It developed a policy-controlled system, and the DAO had a high level of control over actions and decisions made for Snowbank.
At the time of writing this post on Nov 9 2022, the SB token is being held in 3,045 wallets. During the past 24 hours, there have been more than 750,000 SB transactions with a trading volume of $787. Further details about Snowbank’s token distribution and allocation models are not publicly available now.
Snowbank DAO was officially shut down in February 2022. Throughout the past three months, Snowbank DAO’s All-Time High was $231.73, and its All-Time Low was $133.78. Below is the chart of Snowbank DAO’s SB token price performance in the past three months.
Currently, Snowbank DAO’s price is fluctuating around $216. Its price is now 97.4% lower than its All-Time High of $8,356.80 on Nov 08, 2021. It is also 57.3% higher than its All-Time Low of $138.86 on Jan 23, 2022.
Today, on Nov 9, 2022, Snowbank DAO has a market cap of $35 million and holds the 512th rank in the market cap rankings. The project was active for less than a year (three months in fact) and has had a yearly ROI of -96%, even though it was mostly inactive during this timespan.
Snowbank DAO’s popularity on Twitter has dropped by 6% in the past six months, with the last tweet from the official Snowbank DAO Twitter account being in February 2022.
The SB token has a circulating supply of 159,640 with no defined maximum supply. Snowbank DAO used a supply growth mechanism that enabled stakers to make profits. If the token balance is increased and outpaces the potential inflation, stakers would profit.
Even though the Snowbank DAO was shut down, the tokens are to remain in circulation. As the crypto market grows, more and more people enter the crypto space, bringing more money into the industry. That’s the main reason why a dead project’s token could increase in price in the future.
According to crypto experts, in 2023, the minimum price of Snowbank DAO may reach $323. The average price of each SB token would be $335, and it can hit $406 at max.
The Snowbank DAO price prediction indicates that in the year 2024, the average price of the SB token will be $482. The minimum price of Snowbank DAO would be $469, and it could reach $576 at a maximum this year.
The price of each SB token is predicted to be $680 on average in 2025. Its minimum and maximum values can amount to $656 and $806, respectively.
Crypto experts forecast that the price of SB tokens will be $4,118 on average. Snowbank DAO’s price can hit a minimum of $4,001 and a maximum trading price of $4,903.
It is due to the estimated growth of the crypto market and industry until 2030, which would lead to an increase in the price of almost all crypto assets.
Even though the developers are anonymous, users claim the team behind Snowbank is the same team behind Snowdog, which rug-pulled the project.
When Snowbank announced that users could redeem a fixed USDC value per SB equal to SB risk-free value, many people claimed they weren’t able to unstake SB tokens, and the fees were working okay but not redeeming!
No! Snowbank DAO was launched around November 2021, and in February 2022, the project was shut down, and the website became unavailable.
Users were unable to redeem or unstake their SB tokens even though the official Snowbank Twitter account announced the final redistribution period.
Snowbank DAO is a dead project, and many claim it to be a scam like Snowdog. Although the price of the SB token will likely increase in the future - according to price predictions done by algorithmic calculations - still, investing in a deactivated project is highly risky and not recommended.
After reading all about Snowbank price prediction, let’s read some FAQs to complete our knowledge.
Snowbank DAO couldn’t last in the crypto market and was eventually shut down, and the website doesn’t exist anymore.