The Fall of Solana (SOL)and FTX (FTT)
Solana (SOL) is a layer-1 blockchain protocol that is able to process more than 50,000 transactions per second. Launched in 2020, Solana (SOL) represented a shift away from Ethereum to the more efficient layer-1 protocols.
Solana (SOL) has seen huge adoption, especially from DeFi protocols, NFT marketplaces, P2E games, and crypto exchanges. This has led to its market cap reaching over $1 billion and a considerable trading volume.
This meteoric rise also resulted in vast investment from institutional investors, which made Solana (SOL) a top-10 cryptocurrency. The FTX exchange was one of the largest investors in the Solana (SOL) ecosystem, as well as providing liquidity and a platform for its users to trade.
While Solana (SOL) experienced rapid growth, so did the FTX exchange and its native token FTT. FTX quickly became one of the leading crypto exchanges in the world, offering spot and derivatives markets with high liquidity and low fees.
However, this is not a success story; FTX has just declared bankruptcy, leaving investors with no choice but to accept their losses. It appears that FTX was lending funds to Alameda Research, a sister company, which in turn was gambling with a number of risky investments.
This has caused a massive sell-off of Solana (SOL) and FTX (FTT), leading to a significant drop in the market values of both assets. In fact, both assets are down more than 90% from their all-time highs.
Experts Recommend Switching To Orbeon Protocol (ORBN)
Investing in startups is one of the best ways to make your money work for you. However, the best opportunities are traditionally reserved for those with the deepest pockets. Orbeon Protocol (ORBN) is a project that changes this dynamic by allowing everyone to become an investor in the next big thing.
Orbeon Protocol (ORBN) uses blockchain technology to enable the rapid launch of projects, allowing them to raise funds without going through venture capital or traditional financing mechanisms.
Orbeon Protocol's key selling point is its use of non-fungible tokens (NFTs) that are connected to the startup's equity. In other words, investing in startups is now easier, more streamlined, and less nebulous for those backing the projects.
The platform is easy for consumers to use, but the smart contracts that power Orbeon Protocol (ORBN) are incredibly robust and reliable. In fact, they are audited by Solid Prood to ensure user funds remain secure.
The ORBN token is the native currency of the platform, and it rewards holders with trading fee discounts, first access to new projects, staking rewards, and more as the ecosystem grows.
With a current price of $$0.0216 per ORBN and 888,000,000 in supply, the total market capitalization sits at just over $19M. We can expect this number to skyrocket as Orbeon Protocol (ORBN) captures some market share of the $12.5B crowdfunding industry.
Find Out More About The Orbeon Protocol Presale