Cryptocurrency is a rapidly evolving sector, and with each passing day, a new player is entering the market with innovative solutions to existing problems. In this article, we will discuss three cryptocurrencies – Ripple (XRP), Chiliz (CHZ), and Orbeon Protocol (ORBN), and the impact they might have on the cryptocurrency market in the coming years.
Ripple’s 1 Billion XRP Withdrawal: A Cautionary Tale
Ripple (XRP), the fintech giant, has a history of withdrawing a staggering 1 billion Ripple (XRP) tokens from its escrow addresses every first day of a new month, for the past five years. Recently, the company conducted three withdrawals, worth a total of $405.3 million in fiat. The initial intention behind the gradual release of the tokens was to unlock all the 54 billion XRP that remained in escrow, but over time, the company began to put nearly all of the unlocked tokens back into escrow, currently locking around 800 million XRP.
While the regular withdrawal of Ripple (XRP) tokens may seem like a positive for the crypto market, it also raises concerns about the company’s intentions. The Ripple (XRP) token has not yet been able to recapture its all-time high of $3.84, reached in January 2018. Thus, with such a large sum of Ripple (XRP) tokens in circulation, it’s uncertain how the market will react. Furthermore, with the majority of Ripple (XRP) tokens locked back into escrow, the long-term prospects of the token remain questionable.
Chiliz (CHZ) Chain 2.0: Is It Worth the Hype?
The Chiliz (CHZ) network is in the midst of a major upgrade. The upgrade, Chiliz (CHZ) 2.0, promises to bring significant changes to the network. Chiliz (CHZ) upgrade includes the introduction of a new NFT standard, a DEX, staking, and memorabilia certification.
While these changes might encourage long-term holding and potentially boost the demand for Chiliz (CHZ), it’s crucial to consider the potential risks involved. Network upgrades can be unpredictable, and if something goes wrong during the process, it could harm the network and its users.
Additionally, the introduction of a DEX and staking, while exciting, does not guarantee an increase in the value of Chiliz (CHZ). In a highly competitive crypto market, new developments need to offer something unique and innovative to attract and retain users. Chiliz (CHZ) 2.0 needs to demonstrate that it can deliver on its promises, and offer a tangible benefit to its users to see any significant increase in demand.
Orbeon Protocol (ORBN): A Bright Future Ahead
In contrast to Ripple (XRP) and Chiliz (CHZ), Orbeon Protocol (ORBN), a new player in the crypto market, has already made a name for itself.
Enabling everyday investors to support early-stage startups with as little as $1, Orbeon Protocol (ORBN) mints equity-backed fractionalized NFTs as a form of investment. This benefits startups immensely as they can now raise capital much faster than is possible via traditional fundraising routes, while everyday investors now have the opportunity to invest comparatively low capital in the next unicorn startups.
Orbeon Protocol’s (ORBN) unique ‘Fill or Kill’ mechanism protects investors’ money and automatically credits their accounts if a project doesn’t meet its goal within the deadline. With its powerful offerings and secure platform, experts predict that Orbeon Protocol (ORBN) will become one of the top cryptocurrencies soon. The value of Orbeon Protocol (ORBN) has skyrocketed to $0.071, representing a staggering increase of 1675% from its initial presale price of $0.004.
While Ripple’s 1 billion XRP withdrawal and Chiliz’s (CHZ) 2.0 upgrade offer their set of benefits and drawbacks, Orbeon Protocol (ORBN) stands out as a promising investment option with a bright future ahead. Its secure platform, innovative offerings, and partnerships with Metaverse make it a crypto to watch in 2023.
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