By EWN • 01 December 2022 • 14:00
The recent sell-off in the market triggered by FTX collapse has drowned several cryptocurrencies. While tokens like Stacks (STX) and Decentraland (MANA) have been struggling throughout the year, they have further worsened the mood of investors by plunging once again in November. Interestingly, a new project, Orbeon Protocol (ORBN), has quickly emerged as investors’ favorite in a falling market. Not only has the price of Orbeon Protocol (ORBN) jumped 260%, from $0.004 to $0.014 during presale but the tokens are also quickly selling out. The strong growth in popularity of Orbeon Protocol (ORBN) shows there is a huge demand for innovative projects with potential to provide real long-term gains. This article looks at how Stacks (STX) and Decentraland (MANA) are performing and why investors are excited about Orbeon Protocol (ORBN).
Stacks (STX) price has dropped over 24% in the last 30 days. Stacks (STX) touched an all-time high (ATH) of $3.39 on December 1, 2021. However, it has been underperforming since the ATH. Stacks (STX) fell to $0.5 during the market crash in May. In the sell-off triggered by the FTX collapse this month, Stacks (STX) fell to $0.21 and hasn’t recovered much since then. According to CoinMarketCap data, Stacks (STX) is currently trading near $0.23.
As a Layer-1 blockchain solution, Stacks (STX) has been designed to bring smart contracts and DApps to Bitcoin (BTC). Stacks (STX) connects directly to the Bitcoin network through its proof-of-transfer consensus mechanism where miners have to pay in BTC to mint new STX tokens. Stacks’ link with Bitcoin bolsters its long-term potential but buyers are frustrated with the prolonged bear run of this token in 2022.
Stacks (STX) was recently in the news after its co-founder, Peter Shea, publicly shared the political connections of fallen FTX founder Sam Bankman-Fried.
Decentraland (MANA) has also performed poorly in 2022. With investors losing interest in play-to-earn metaverse tokens, Decentraland (MANA) has been struggling to attract both buyers and players to its platform. As per CoinMarketCap data, MANA is currently trading at $0.4, down 93% from the ATH of $5.85 on November 25, 2021. In the last 30 days, Decentraland (MANA) has plunged 37%.
Data shows Decentraland (MANA) has been losing value consistently since the start of the year. In January, Decentraland (MANA) was trading near $3.3. Decentraland (MANA) fell to $0.7 in May and further to $0.36 in November.
There is a growing sense of uncertainty among Decentraland (MANA) buyers. In the wake of FTX collapse, the metaverse platform’s community decision making tool, Decentraland DAO, proposed to hold a vote to temporarily pause its grants program and reassess the structure.
Investors are excited about Orbeon Protocol (ORBN) as the platform provides an opportunity to invest in equity or reward-based non-fungible tokens (NFTs) minted by real-world early stage businesses. With this, Orbeon Protocol (ORBN) is not just bridging the gap between traditional and crypto finance but also providing the crypto community with a first of its kind opportunity to make money from real-world businesses, by investing as little as $1 in growing startups.
Unlike other cryptocurrencies, Orbeon Protocol (ORBN) offers a long-term earning potential as the fortunes of the project’s native token would not be limited to the ups and downs of crypto markets only.
While tokens like Decentraland (MANA) and Stacks (STX) are struggling to recover, Orbeon Protocol (ORBN) has seen a surge in demand and price. Currently in the second phase of presale, Orbeon Protocol (ORBN) price has jumped 260% from $0.004 to $0.0144 on the back of strong demand. Analysts are projecting that Orbeon Protocol (ORBN) could surge by 6000% during the presale.
Find out more about the Orbeon Protocol Presale
The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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