At the start of 2022, FTX was one of the largest cryptocurrency exchanges in the world. It was considered a safe place for investors to get started with crypto, and had 1.2 million registered users. However, FTX became one of the biggest scandals in history after $600 million of investor funds were stolen, and the company filed for bankruptcy.
Under new management, FTX is now looking to rebuild. However, few investors are willing to risk their funds. Instead, they’ve invested in projects like Orbeon Protocol (ORBN), which has already provided returns of over 1675% since October.
FTX Token (FTT) Crashes After January High
Prior to the FTX scandal, the project’s currency, FTT, had hit highs of $84.18 and was considered to be a strong investment. However, this changed in November 2022 when the FTX exchange filed for Chapter 11 bankruptcy. Following the announcement, FTX locked investor funds and claimed a hacker had stolen over $600 million from FTX users.
An external investigation was launched following the filing and discovered a number of behind the scene scams. Firstly, the FTX team used investor funds to make highly risky investments, essentially using investors’ money to bet. Secondly, FTX had a liability-to-assets ratio of 10:1. This investigation caused the FTX Token (FTT) to crash to less than $1, and ruined the reputation of the exchange.
Now under new management, FTX is looking to rebuild, and despite the scale of the recent scandal, the project has had some success. Throughout January, the value of FTX Token (FTT) increased by 131.06%, hitting highs of $1.96. Predictions were made for FTX Token (FTT) to increase to $2, however, its value has since decreased in February. One FTX Token (FTT) is currently worth $1.81, with a decline of 10% during the first week of the month.
Given the scale of the scandal, it could be many years before FTX manages to rebuild its reputation, with many investors believing it may never happen.
Orbeon Protocol (ORBN) Hits New High Despite FTX Scandal
Despite the FTX scandal crashing much of the cryptocurrency market, Orbeon Protocol (ORBN) has continued to increase in price. In January the project hit new highs of $0.06, and it has since increased again to $0.071 in February.
Orbeon Protocol (ORBN) has built a strong foundation for itself with a number of safety procedures. Firstly, the project was audited by Solid Proof for external validation before it went on presale. This immediately gave investors confidence. Additionally, Orbeon Protocol (ORBN) has locked ORBN token liquidity for a decade and team tokens for one year, preventing the possibility of a rug pull. As a result, investors could be confident they were never going to be scammed.
As well as being a safe investment, Orbeon Protocol (ORBN) offers great utility and outstanding benefits. Its DeFi launchpad removes the barriers to entry for startups, letting everyday investors buy shares in startups while startups raise funds.
If this wasn’t a good enough opportunity in itself, Orbeon Protocol (ORBN) also showcases an entire DeFi ecosystem powered by ORBN tokens. Token holders are granted a number of rewards for holding, such as staking bonuses, USDC cashback and more.
Analysts now predict that Orbeon Protocol (ORBN) will hit highs of at least $0.24 before it’s presale ends, making it not just a safer investment than FTX, but also one that offers greater returns.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
The post FTX Hits $2.6 In January, Could It Recover? Meanwhile Orbeon Protocol Hits New ATH appeared first on Analytics Insight.
At the start of 2022, FTX was one of the largest cryptocurrency exchanges in the world. It was considered a safe place for investors to get started with crypto, and had 1.2 million registered users. However, FTX became one of the biggest scandals in history after $600 million of investor funds were stolen, and the company filed for bankruptcy.
Under new management, FTX is now looking to rebuild. However, few investors are willing to risk their funds. Instead, they’ve invested in projects like Orbeon Protocol (ORBN), which has already provided returns of over 1675% since October.
FTX Token (FTT) Crashes After January High
Prior to the FTX scandal, the project’s currency, FTT, had hit highs of $84.18 and was considered to be a strong investment. However, this changed in November 2022 when the FTX exchange filed for Chapter 11 bankruptcy. Following the announcement, FTX locked investor funds and claimed a hacker had stolen over $600 million from FTX users.
An external investigation was launched following the filing and discovered a number of behind the scene scams. Firstly, the FTX team used investor funds to make highly risky investments, essentially using investors’ money to bet. Secondly, FTX had a liability-to-assets ratio of 10:1. This investigation caused the FTX Token (FTT) to crash to less than $1, and ruined the reputation of the exchange.
Now under new management, FTX is looking to rebuild, and despite the scale of the recent scandal, the project has had some success. Throughout January, the value of FTX Token (FTT) increased by 131.06%, hitting highs of $1.96. Predictions were made for FTX Token (FTT) to increase to $2, however, its value has since decreased in February. One FTX Token (FTT) is currently worth $1.81, with a decline of 10% during the first week of the month.
Given the scale of the scandal, it could be many years before FTX manages to rebuild its reputation, with many investors believing it may never happen.
Orbeon Protocol (ORBN) Hits New High Despite FTX Scandal
Despite the FTX scandal crashing much of the cryptocurrency market, Orbeon Protocol (ORBN) has continued to increase in price. In January the project hit new highs of $0.06, and it has since increased again to $0.071 in February.
Orbeon Protocol (ORBN) has built a strong foundation for itself with a number of safety procedures. Firstly, the project was audited by Solid Proof for external validation before it went on presale. This immediately gave investors confidence. Additionally, Orbeon Protocol (ORBN) has locked ORBN token liquidity for a decade and team tokens for one year, preventing the possibility of a rug pull. As a result, investors could be confident they were never going to be scammed.
As well as being a safe investment, Orbeon Protocol (ORBN) offers great utility and outstanding benefits. Its DeFi launchpad removes the barriers to entry for startups, letting everyday investors buy shares in startups while startups raise funds.
If this wasn’t a good enough opportunity in itself, Orbeon Protocol (ORBN) also showcases an entire DeFi ecosystem powered by ORBN tokens. Token holders are granted a number of rewards for holding, such as staking bonuses, USDC cashback and more.
Analysts now predict that Orbeon Protocol (ORBN) will hit highs of at least $0.24 before it’s presale ends, making it not just a safer investment than FTX, but also one that offers greater returns.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
The post FTX Hits $2.6 In January, Could It Recover? Meanwhile Orbeon Protocol Hits New ATH appeared first on Analytics Insight.