StepN is one of the few crypto projects that boomed this year. It was created as a move-to-earn game, where users would earn cryptocurrency as they exercise. While it was the first of its type, it has not taken long for competitors to appear on the market and many StepN (GMT) investors are starting to jump ship. Avalanche (AVAX) has recently announced some interesting developments in its roadmap and a new crypto token Orbeon Protocol (ORBN) which is currently in its presale has been tipped by experts to be the next 60x token for 2022, read on to find out why.
What Is Orbeon?
Orbeon is an investment platform that combines the successful industries of venture capital and crowdfunding with the crypto market. Investors can now buy fractionalized NFTs, representing a startup company on the platform for as low as $1. This unique initiative has an advantage for most investors, as traditional VC has always required significant capital, making it nearly impossible for everyday investors to support small businesses or the next tech unicorn.
Holders of these fractionalized NFTs can invest knowing that their funds will be returned in the event a company they invest into fails to achieve their funding goals in a specified timeframe, known as the “fill or kill” mechanism.
Additionally, holders of the native token ORBN will receive a variety of benefits, including staking rewards, governance rights, access to exclusive investor groups and more. Due to this unique utility, ORBN is expected to rise in price by the end of presale, with some experts predicting as high as $0.24.
Why Are Investors Worrying About STEPN and Avalanche AVAX?
StepN is a fitness app launched earlier this year. The hype around it was based on the fact that users of the app could earn cryptocurrency only by exercising, which is what pumped StepN’s price by around 2,000% in the first couple of months of launching. In early October, StepN fired more than 100 workers, including moderators and ambassadors, although the officials reported that only inactive, volunteering mods were laid off. Regardless, this news was enough to damage investor trust in StepN.
In addition to this, the daily active users of StepN have also decreased significantly, from about 140k in August to only 99k in September. In a similar fashion, the price of GMT has dropped by more than 80% compared to its all-time high, making it easy to see why investors are considering other projects.
Avalanche (AVAX), like many other coins, has also been hit quite hard since the beginning of the crypto winter – Avalanche (AVAX) traded at around $140 in November 2021, currently down to approximately $15 per token. With a drop of about 80% down from the all-time high, even some of the biggest crypto believers had their trust shaken at such a drastic decline in the Avalanche token.
As if that’s not enough, the crypto whales hold less than $30,000 worth of Avalanche (AVAX), which can be seen as a bearish sign for Avalanche. On a positive note, Avalanche has multiple developments in the pipeline, but only time will tell if it will manage to survive the crypto winter, with some analysts downgrading the price forecast for Avalanche AVAX over the short term.
Overall, if the StepN management has what it takes to keep the company afloat despite the dropping numbers, StepN may survive the crypto winter, although investors may prefer looking at projects with higher potential, like Orbeon Protocol. Reinventing one of the most profitable industries in history, Orbeon Protocol adds extra layers of security for its investors and provides multiple investment opportunities on one of the most innovative venture capital and crowdfunding platforms to date.
Interest in Orbeon Protocol is expected to rise further, as ORBN tokens are undergoing a presale, and are currently trading at $0.004 with experts expecting the price to increase by 6,000% before the end of the year.
Find Out More About The Orbeon Protocol Presale