The cryptocurrency market suffered another major blow this past week with the apparent collapse of FTX. The latest news is the CEO, Sam Bankman-Fried has stepped down, and the company has filed for bankruptcy. The wider implications will be seen in due course, but this is still a good time to invest in winning new coins. Here we look at why coins affected by the collapse, Tron (TRX) and Apecoin (APE), are likely to get overtaken by Orbeon Protocol (ORBN) as it is forecasted for 6000% growth.
Tron (TRX) is a Picture of Decline
Since Tron price peaked at $0.18 in April 2021, it has been declining beneath a descending resistance line. Tron also fell sharply against an ascending support line that had first appeared in March 2020. Tron is now trading above the horizontal support level of $0.055.
The Tron price might drop to $0.036 if it collapses. This represents a 40% reduction from the current Tron (TRX) pricing, with the weekly RSI supporting this decline. On the other hand, a breakout from the long-term line would render this negative forecast for the price of Tron meaningless. Now, it appears improbable that this will happen, and Tron will continue to see a downward trend.
ApeCoin (APE) Still Lacks a Proper Use-Case
Yuga Labs, the organization that created the Bored Ape Yacht Club, launched ApeCoin (BAYC). ApeCoin garnered a lot of attention due to its connection to the largest NFT project.
Many smaller investors viewed it as a way to fund BAYC projects without shelling out hundreds of thousands for an NFT. The owners of the Bored Ape and Mutant Ape collections, however, received the majority of the ApeCoin tokens. What’s worse, Bored Ape holders started selling ApeCoin soon after its launch because it had no apparent use. As a result, BAYC holders profited handsomely from ApeCoin, leaving ApeCoin holders holding the bag.
ApeCoin will continue to be in trouble without a distinct use case. This might alter with the full release of Yuga Labs’ metaverse project Otherside. The metaverse’s importance for ApeCoin could help the coin regain momentum.
Orbeon Protocol (ORBN) Protects its Members
A brand-new decentralized investment platform called Orbeon Protocol (ORBN) has been making waves across the crypto market. It makes it possible to invest as little as $1 in early-stage enterprises and startups. The NFTs-as-a-Service from Orbeon Protocol offers a platform for investments and aids enterprises in overcoming the challenge of fundraising.
To do this, startup companies are minted and sold to investors as fractionalized NFTs which can be purchased for as low as $1. Orbeon Protocol gives investors access to the venture capital market and aids in getting early-stage companies the money they require to realize their full potential and succeed.
Due to the inherent risk associated with fundraising, the platform contains a ‘fill-or-kill’ mechanism that automatically refunds investors if any fundraising project fails to reach its targets. The mechanism works on a solid proof audited smart contract.
Orbeon Protocol’s native coin, ORBN, has been made available in a presale phase that started at the end of October and will run until January 2023. In this short time, the price of ORBN has increased from $0.004 to $0.009 and is predicted to rise further up to $0.24 by the time the presale ends. Orbeon Protocol is like a beacon of hope in a market beset by bad news.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Source: https://coinpedia.org/press-release/tron-trx-and-apecoin-ape-likely-to-be-overtaken-by-orbeon-protocol-orbn/