The Binance Exchange is where you can trade cryptocurrencies. The majority of widely used cryptocurrencies are supported on the exchange. To keep their digital currency, traders can use the crypto wallet offered by Binance. Users can earn interest or conduct transactions using cryptocurrency thanks to the exchange’s support services. No doubt Binance has been one of crypto’s success stories but can Orbeon Protocol be a success?
Orbeon Protocol (ORBN) lives up to its claims
Even though every new blockchain and cryptocurrency project claims to be unique, the Orbeon Protocol actually could live up to this. What amounts to a fascinating real-world concept, Orbeon Protocol seeks to revolutionize the traditional methods used by businesses to raise funding.
Orbeon Protocol connects cryptocurrency enthusiasts who own ORBN, the native token of Orbeon, with startup and established companies looking for investment funds. Together, they create a community, engage in direct communication, and provide users the chance to put money into innovative new ventures and initiatives that were previously out of reach.
They achieve this by creating NFTs as a type of initial working capital for the company, then fractionalizing them into shares, starting at just $1 each. While the benefits to investors are clear—allowing investments of any size—for businesses, it means cutting out the intermediaries and reaching out to investors “face-to-face,” so to speak.
Orbeon Protocol team is working hard to strengthen the fundamental business case. Holders of ORBN still have the option to stake their tokens for third parties, giving them access to a sizable passive income from the project’s earnings. The current forecasts for the token price could potentially make it an incredibly alluring opportunity.
Binance (BNB) had a change of heart over FTX
According to those acquainted with the situation, Binance changed its mind on a rescue plan for FTX on Wednesday, leaving the well-known digital company with an uncertain future as it faces a shortfall of up to $8 billion.
Following a study of the business’s finances, Binance decided not to proceed with the non-binding offer, the exchange reported. According to a statement from Binance, “At first, we intended to be able to support FTX’s customers to provide liquidity, however, the challenges are beyond our control or capacity to help.”
The collapse of the Binance rescue piled some major stress onto the financial markets, which, at the time, were still wallowing in uncertainty about the results of the US midterm elections.
There is little doubt that the Orbeon Protocol is bringing a great package to the market and the market is responding accordingly. In the first two days of the presale, $400,000 worth of ORBN was sold. Could Orbeon prove to be as successful as Binance? We see no reason why not.
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