Both Solana (SOL) and Aptos (APT) were exposed to the collapse of the FTX exchange and have plummeted over the last seven days, with Solana (SOL) bearing heavy losses. Investors look towards a new and innovative project, the Orbeon Protocol (ORBN). Analysts expect huge returns from Orbeon Protocol after phase 1 of the presale ends.
Solana is a blockchain-based platform for hosting decentralized, scalable apps. Solana was founded in 2017. It is an open-source project managed by Solana Foundation in Geneva. At the same time, Solana Labs developed the blockchain in San Francisco.
Solana (SOL) is down over 60% over the previous week to less than $13. Since Tuesday morning, when news of FTX’s liquidity concerns surfaced, Solana has lost around 61.8% of its value. Now, as the ecosystem suddenly faces a crisis, major blockchain network founders are striving to rekindle waning interest in the field.
Solana has lost 94.6% of the all-time high price of $260, which Slana achieved last year when the broader cryptocurrency market was booming. This week’s decline follows months of broader market struggles and macroeconomic pain, and the fallout from the FTX appears to be impacting builders and investors.
Nonetheless, Solana’s well-known connection to FTX and its creator looks to have accelerated its decline thus far this week, and the harm might quickly intensify. Overnight, roughly 56.3 million SOL, valued around $729 million, will be unlocked from staking, and a considerable amount could be dumped onto the market, further depressing the price.
Aptos was praised in crypto circles as a “Solana-killer.” Aptos made news with its blockchain-enabled NFTs, DeFi, and DAOs by promising faster and cheaper transactions. Aptos gained a lot of popularity thanks to financing from Andreesen Horowitz, FTX Ventures, Coinbase Ventures, and Binance Labs.
Aptos is a proof-of-stake, layer-1 blockchain that claims to have fixed the most significant problems existing cryptocurrency networks face. Additionally, Aptos is unique due to its programming language.
APTOS (APT) was likewise down 44% in the previous week. Since its introduction on October 19, 2022, the value of the new currency has decreased.
The loss is not exclusive to APTOS (APT), but what is worrisome is the significant proportion that this currency has dropped. This demonstrates that APTOS’s competitiveness is not developing as anticipated. The product that the APTOS (APT) team is attempting to develop is not generating much interest.
Orbeon Protocol (ORBN)
Orbeon Protocol is a decentralized investment platform that allows anyone to purchase fractionalized NFTs for as little as $1 to participate in exciting new startup investment opportunities.
These fractionalized NFTs are issued as equity to everyday investors, who can use this system to access the venture capital market. This also enables entrepreneurs and new businesses to raise funds and build their communities simultaneously.
Now that investors have access to hitherto closed venture capital markets, the native ORBN coin of the Orbeon ecosystem is in high demand. ORBN provides its holders various benefits, including staking bonuses, governance powers, transaction cost reductions, and more.
Orbeon Protocol (ORBN) began the presale with a $0.004 per token price. However, some analysts expected that the Orbeon token would rally significantly.
40% of the supply is available for purchase during the Phase 1 presale, with experts and analysts forecasting an increase to around $0.24 per token, for a total increase of approximately 6000%.
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