Bitcoin (BTC) and Ethereum (ETH) are some of the most popular and renowned cryptocurrencies globally. Since their launches, they have continued to be an inspiring leader in the crypto market. Even though the value of both cryptocurrencies plummeted in the crypto winter of 2022, they’re back to making their usual huge moves.

However, Snowfall Protocol (SNW), a new cross-chain asset transfer protocol, is rapidly gaining much attention, even more than Ethereum (ETH) and Bitcoin (BTC). The Snowfall Protocol (SNW) token is set to explode in value, with expert analysts speculating a 1000x surge. Read on to learn more.

Bitcoin (BTC) and Ethereum (ETH) lead market rally

Bitcoin (BTC) and Ethereum (ETH) have soared since the beginning of November, when FTX caved in. Both cryptocurrencies recently regained their bullish momentum for the first time in months, with the total crypto market cap above $1 trillion again.

Bitcoin (BTC), Ethereum (ETH), and other major cryptocurrencies have been boasting at least double-digit weekly gains in the past few weeks. According to Coindesk, Bitcoin (BTC) has posted a modest 37.5% gain this year. Ethereum (ETH), the largest altcoin by market cap, also follows the same patterns and has gained up to 30% this year. It currently trades at $1,550 while Bitcoin (BTC) hovers near $23,000 with over $437 billion market cap.

The latest rally in the crypto market came at a cost for Bitcoin (BTC). Although there is an increase in TVL of Ethereum (ETH) and Bitcoin (BTC) networks, which indicates growing user activities on both networks, Bitcoin’s (BTC) mining difficulty has hit new highs. According to CoinWarz, the difficulty of solving a new hash grew by more than 10%. Therefore, the odds of finding the right value to validate transactions is one in 37.59 trillion.

Snowfall Protocol (SNW) skyrockets in presale

Another token that has seen a notable record-breaking price rise and demand during this market rally is  Snowfall Protocol (SNW). The multi-chain protocol provides a revolutionary and decentralized ecosystem for users to safely transfer their assets over any blockchain network.

Snowfall Protocol’s (SNW) mission is to build a permissionless and secure hub that serves as a bridge with excellent interoperability between multiple networks. This is possible via its canonical/reverse canonical token bridge for cryptocurrencies and swap/wrap model for NFTs.

The interoperability solution of Snowfall Protocol (SNW) makes it much more important than existing protocols and networks. Without it, blockchain networks will only exist as a single, non-operable, and non-inclusive entity.

Everyone across the board benefits from Snowfall Protocol (SNW) – from stakeholders to developers and regular users. It will motivate developers to build new cross-chain compatible apps while bringing all blockchain entities under an umbrella.

The unreplaceable importance of the Snowfall Protocol (SNW) is evident in its successful presale, which is breaking limits with terrific demand. The token is in the third presale stage, with over 90% of allocated tokens already sold out.

Unlike Ethereum (ETH) and Bitcoin (BTC), the Snowfall Protocol (SNW) token saw a whopping 4000% increase in value. The token is currently trading at $0.2, and the market demand can drive it by more than 1000x during launch.

get in while you can and invest in Snowfall Protocol (SNW) today!!!

Presale: https://presale.snowfallprotocol.io

Website: https://snowfallprotocol.io

Telegram: https://t.me/snowfallcoin

Twitter: https://twitter.com/snowfallcoin

Last week, the Peoples Democratic Party (PDP) governorship flag bearer in Abia state, Prof. Uchenna Ikonne passed on. This led to some bugging legal questions being asked by average Nigerians as to what becomes of the situation of the PDP in the state coming election; do they have to swap the late governorship candidate with his running mate and field him for the election or do they have to conduct another fresh primary election to produce a fresh governorship candidate for the election?

This same bugging question has been duly contemplated and considered by the lawmakers as an answer to it has been provided for in Section 33 of the Electoral Act, 2022.

The quoted provision reads thus;
“A political party shall not be allowed to change or substitute its candidate whose name has been submitted under section 29 of this Act, except in the case of death or withdrawal by the candidate:Provided that in the case of such withdrawal or death of a candidate, the political party affected shall, within 14 days of the occurrence of the event, hold a fresh primary election to produce”

By virtue of the provision of Section 33 of the Electoral Act, 2022 upon the death of a political candidate, the political party fielding the deceased candidate shall within fourteen (14) days of the occurrence of death conduct a fresh primary election to produce a “fresh” candidate to the Independent National Electoral Commission (INEC). The maximum number of days that this must be done is fixed at fourteen (14) days and anything outside fourteen (14) days simply means that the political party is no longer interested in contesting that election or fielding any candidate.

A prospective deputy governor or the running mate of the deceased flag bearer cannot be swapped or used to replace the principal unless a fresh primary election is conducted and the running mate was duly elected to replace or take the place of the principal.

To this effect, in Abia state, the PDP is expected or should within fourteen (14) days after the death of Prof Ikonne conduct a fresh primary election and elect another governorship flag bearer for the state, if the PDP fail to do so, it will mean they are no longer interested in contesting or fielding anybody for the election. The deputy governorship flag bearer cannot go to the ballot box alone without the principal, the deputy of a deceased principal can only replace the principal when they have been duly elected and the principal passed on, just as was the case of HE Musa Yar’adua and HE Goodluck Jonathan in 2010 where Goodluck Jonathan as the Vice President completed the tenure of his principal when the principal passed on.

These are the provisions of the laws of Nigeria

The House of Representatives on Tuesday, approved the request by President Muhammadu Buhari, to increase the federal government’s Ways and Means loan from the Central Bank of Nigeria (CBN) by N1 trillion.

The loan, which the federal government said it will use to fund the 2022 Supplementary Budget, was approved after deliberation and adoption by the committees on finance, banking and currency, and aids, loans and debts management.

The National Assembly passed the N819.5 billion Supplementary Budget in late December, which is for the ministry of Agriculture, Water Resources, FCT and Works. A breakdown of the budget shows that the Ministry of Agriculture is to get N69 billion, Ministry of Water Resources N15.5 billion, FCT N30 billion and Ministry of Works and Housing N704 billion.

However, the budget is to be funded by additional borrowing and will increase Nigeria’s budget deficit to 8.17 trillion naira and deficit to GDP ratio to N4.43 percent.

The federal government said the budget had become necessary due to the devastation that came with the flooding Nigeria experienced late last year. However, funding the budget was a challenge. The federal government sought approval from the National Assembly to secure funding from its easiest lender – the CBN.

“The ways and means advances by the Central Bank of Nigeria to the federal government has been a funding option to the federal government to cater for short term or emergency finance to fund delayed government expected cash receipt of physical deficit,” Buhari had said in his letter to the National Assembly seeking approval for the central bank loan.

But the house, after approving the loan request, deferred the request to securitize the N23.7 trillion ways and means loans, pending “further engagement with the executive by the joint committee to allow for a thorough and detailed work and submissions”.

The speaker of the House of Representatives, Femi Gbajabiamila, said the N23.7 trillion request would be considered after the lawmakers resume from recess.

The Senate had in early January, said the request to securitize the Ways and Means loans will be considered, but after the examination of all the necessary documents.

“We will insist on getting the right documents for our committees to ensure that whatever they advise us to do in the two chambers are based on information and knowledge and not just passing ways and means without knowing what it is,” Senate President Ahmed Lawan said.

The CBN, in violation of the CBN Act, which prohibits it from lending more than 5% of the federal government’s previous year’s revenue, has been yielding to federal government’s loan requests since 2015. Now the N23.7 trillion loan has become a disturbing part of Nigeria’s public debt.

The federal government now seeks to convert it to long term bonds. The Minister of Finance, Budget and National Planning, Zainab Ahmed, said the idea is to reduce the interest rate among other things.

“If passed, it will bring significant fiscal relief to the federal government considering a moratorium of 40 years and interest rate of nine percent. President Buhari has urged the National Assembly to pass it and we are hopeful they will,” Ahmed stated.