Orbeon Protocol (ORBN) is already up more than 100%, even though its presale is still in phase 1. The innovative new platform is here to revolutionize venture capital and make investing in startups accessible to anyone. This week, Bitcoin reached a new low after falling more than 21%, and Bitcoin (BTC) is now trading below $17,000.
Bitcoin (BTC) set a new low and lost more than 21% this week
The crypto world has seen a bear market since the sector has been tumbling down from all-time highs set last year. Bitcoin reached a low of about $17,000 in early June.
Since then, Bitcoin’s price has fluctuated and stagnated at around $20,000 for the past few months. This week, in the light of the FTX exchanges collapse and widespread panic in the cryptocurrency market, Bitcoin beat that low of $17,000 set in June and is currently trading at $16,640, down more than 21%.
Bitcoin, debuting in 2009, was the first cryptocurrency ever introduced to society. This new approach to finance was not accepted by society at the time since it appeared unreliable and hazardous. In time, however, it became the most widely used cryptocurrency on the market, gaining global acceptance.
Nevertheless, with crypto comes risk. This is one of the primary reasons many people are apprehensive about utilizing cryptocurrencies. Due to the market’s significant volatility, many consumers refrain from investing substantial sums. This year is the perfect illustration, as Bitcoin was valued at approximately $68,000 at the same time last year.
Although Bitcoin is the largest cryptocurrency, its future is impossible to predict. While some believe Bitcoin will increase again over the next year or two, others feel this could be the beginning of its decline.
Orbeon Protocol (ORBN) is skyrocketing
Orbeon Protocol (ORBN) has recently been in the news as its revolutionary investing platform disrupts the crypto, venture capital, and crowdfunding industries. The venture capital platform based on ORBN, the native token, addresses several issues that new enterprises and retail investors face.
Using Orbeon Protocol, entrepreneurs and early-stage companies can issue fractionalized NFTs. Orbeon protocol users can purchase the equity-backed NFTs of their preferred startup for as little as $1. In turn, businesses acquire the necessary funding in a much quicker and easier fashion than the traditional venture capital industry.
One of the key features of Orbeon Protocol is that it employs a “Fill or Kill” mechanism, which means that if a firm or project fails to obtain sufficient funding within a specific timeframe, the NFTs will be burnt, and the invested funds would be returned to the investors.
ORBN is the native token of the Orbeon Protocol ecosystem. Analysts expect the token to climb even further in the following weeks, with some predicting a 6,000% growth by the end of the year.
Once the presale concludes, ORBN tokens will be made available to the general public, and grant holders various perks ranging from protocol governance to staking bonuses.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.