VeChain (VET) and Ripple (XRP) Whales Left Disappointed as Orbeon Protocol (ORBN) Pumps 525% During Presale
A new cryptocurrency is on the rise, and investors are taking notice. Orbeon Protocol (ORBN) has seen a huge increase in value over the past few days, and many are wondering why. The answer may have to do with VeChain (VET) and Ripple (XRP) whales dumping their holdings during phase 2 of the Orbeon Protocol (ORBN) presale, which has recorded a 525% price increase from $0.004 to $0.021.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) uses the Ethereum blockchain to create a crowdfunding platform that connects startups with investors. Rather than issuing shares, Orbeon Protocol (ORBN) fractionalizes startup equity into NFTs.
Now anyone who wants to invest in a startup can do so without needing large amounts of money or accredited investor status. This could potentially open up the market to a much wider range of investors who can invest from as low as $1, and it has cast a favorable light on Orbeon Protocol (ORBN). Startups are also queuing to register on the platform as it provides a quick and easy way to raise capital.
There are no middlemen either, as smart contracts handle the entire process. This could help increase transparency and accountability in the investment space. All smart contracts are audited by Solid Proof, and all funds are fully returned to investors in the event that a funding round comes up short of its fundraising goal – This is denoted as the “Fill or Kill” mechanism.
There’s a native token too — ORBN. Holding ORBN gives users access to exclusive services and discounts on the platform. It’s also used for staking, governance rights, and earning cashback rewards. The high utility of this token has been a major factor behind its growth.
Phase 1 of the public presale sold out in just a few weeks, with thousands of investors jumping on board. Phase 2 is currently ongoing, and this saw the price of ORBN soar by over 525% from its initial level of $0.004 to $0.021.
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VeChain (VET)
VeChain (VET) is a blockchain-as-a-service company that focuses on enterprise solutions. VeChain (VET) has a number of large corporations as customers, and they use its services to create decentralized applications.
Unlike other layer-1 blockchains, VeChain (VET) uses a dual token system, with VeChain (VET) generating the VTHO tokens used to power transactions. This means that holding VeChain (VET) rewards holders with VTHO, which acts as a passive income stream.
This VTHO is burned every time a transaction is made. However, usage of VeChain (VET) is still yet to reach its full potential, leading to an excess of VTHO in circulation. This has made VeChain (VET) less attractive to whales, who are now looking elsewhere for profits.
Ripple (XRP)
Ripple (XRP) is a decentralized payment system that facilitates cross-border payments. Ripple (XRP) has been adopted by a number of financial institutions, such as Santander, American Express, and MoneyGram.
The XRP Ledger Foundation (XRPLF) is a non-profit that maintains and develops the XRP Ledger. This is a fundamental part of the Ripple network that invests in research & development, promotion of the ledger, social impact of the ledger, and more.
The XRPLF is needed now more than ever, as a lawsuit from the US Securities and Exchange Commission (SEC) has cast a shadow over Ripple (XRP). The SEC claims that Ripple (XRP) is an unregistered security, and this has caused many investors to flee the asset.
Usage of Ripple (XRP) has got so low that exchanges are starting to delist it due to a lack of activity, leading to whales dumping their Ripple (XRP) holdings in search of better returns elsewhere.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
Disclaimer: The above is a sponsored article and the views expressed are those of the sponsor/author and do not represent the stand and views of The Tribune editorial in any manner.
