Orbeon Protocol (ORBN), ADA, SOL Emerge Soundest Proof-of-Stake Cryptocurrencies
Despite the failure of certain crypto-friendly banks, ADA is gaining momentum with its founder taking on traditional banks’ reserve assets handling. Solana’s ecosystem is seeing adoption from developers and users, and Orbeon Protocol’s unique new approach stuns holders with gains of over 2093% in the 10th stage of the presale. Here’s what you need to know.
Charles Hoskinson´s comments on reserve asset handling
Charles Hoskinson’s vision is gaining momentum as the traditional banking system continues to disillusion people around the world. His main concern is how traditional banks handle their reserve assets compared to crypto companies and the context of collateral management.
He brought attention to the difference in which stablecoin issuers and banks manage their collateral; Tether claimed that USDT is backed 81% by cash and equivalents, and crypto companies have faced criticism for holding collateral in cash and treasury bills. On the other hand, the Silicon Valley Bank crisis stemmed from its investments in government bonds which have devalued significantly due to Fed rate hikes.
He also noted that USDC issuer Circle had a $3.3 billion exposure to the Silicon Valley Bank. At its “peak,” USDC lost around 13 cents in value, while ADA was up by 15% in the same 24 hours. This shows that PoS ecosystems like Cardano’s are able to defy market turmoil by continuing to build. With ADA entering the Voltaire Phase, Cardano is enabling the ecosystem with multiple developments and partnerships.
Additionally noteworthy is that DJED, the native decentralized stablecoin, has seen an increase in trading volume over the past 24 hours, surging by 43.64%.
Solana’s Ecosystem promises quality and, of course, NFTs
In times like this, many are looking for even more quality acquisitions. Solana’s strong position in key areas appears to be what smart money is looking for. But as crypto market cycles show, there is likely more volatility to come. The simple fact that three crypto-tied banks have gone out of business since Wednesday obviously keeps on edge, but sales on Solana’s NFT market surged 40.66% in the past week. The little-known Solana NFT marketplace, Tensor, started to pick up, with about 21.63% of all Solana NFT trades made on Tensor over the past 24 hours. As announced on Monday, Tensor raised $3 million in a seed round led by blockchain venture capital Placeholder. Trader-friendly tools make Tensor different from other marketplaces as it gains more popularity and a steadily growing community. Over the past 24 hours, SOL is up by 9.8% and is now once again scratching to get back into the top 10 by market cap.
Leading the way – Orbeon Protocol’s new DeFi platform
The Orbeon Protocol ecosystem offers unique features for enterprises and is set to revolutionize the crowdfunding industry using NFTaaS to automate the process. NFTs-as-a-service reduces costs and offers the possibility for companies to raise funds by issuing equity-based NFTs. A “Fill or Kill” mechanism is implemented in the smart contract, which cannot be altered or removed to secure the process. This keeps funds safe, and in case the funding goal is not met in time, all funds are returned. The smart contracts are audited by Solid Proof, a German-based company.
The Orbeon Protocol ecosystem offers a completely decentralized Orbeon Launchpad, Orbeon Swap, and Orbeon Exchange with a wallet built in. In the tenth round of its presale, Orbeon Protocol has already soared by over 2090% to $0.0877 from its initial price and analysts predict up to 6000% gain for the native token of the Orbeon Protocol ecosystem.
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece; nor can this article be regarded as investment advice.
Filed under: Bitcoin - @ March 20, 2023 2:24 pm