The downfall of FTX, one of the leading cryptocurrency exchanges in the world, created a domino effect that left almost every cryptocurrency in the red zone.
The FTX tidal wave also came at a time when the entire market was struggling against a year-long bearish trend.
While the effects of the FTX downfall were more severe for most coins, a few tokens like Avalanche (AVAX), Polygon (MATIC), and Orbeon Protocol (ORBN) weathered the storm better than most.
Orbeon Protocol, for example, continues to attract great attention in the ongoing phase 3 of its presale which has seen massive price hikes of 805% so far. Experts predict a 6000% gain by the time the Orbeon Protocol (ORBN) presale concludes.
It is fair to say that Top Layer-1 Protocol Avalanche (AVAX) was also not spared the FTX effects that decimated the prices of major coins like Bitcoin.
Fortunately, Avalanche (AVAX) fared better than most tokens thanks to its development team that recently assured investors of further efforts to improve the project.
Avalanche’s (AVAX) community is also optimistic that the new developments will likely create a price rally in 2023.
Avalanche (AVAX) is a major competitor of Ethereum. Avalanche (AVAX) is an open-source decentralized proof-of-stake blockchain platform with a smart contract that is unique from other blockchains. Avalanche’s (AVAX) native token is AVAX. The Avalanche coin is still way below its all-time-highest but is expected to rally in 2023.
Popularly known as the “Ethereum Killer” in crypto circles, Polygon (MATIC) is a fast-growing project that recently reported a milestone of reaching 200 million unique addresses. It is probably due to Polygon’s (MATIC) loyal community that it survived the FTX tidal wave fairly better than most.
Polygon (MATIC) has continued to grow thanks to the many dApps and NFTs built on the chain. Polygon’s (MATIC) native token, MATIC, may be trading in the $0.77 range but analysts are confident that the price will rise to as high as $2.92 in 2023.
The expected price surge is because Polygon (MATIC) has lately been partnering with companies and major brands looking for reliable inter-chain operability such as the one Polygon (MATIC) provides.
Polygon (MATIC) also offers some of the best Level 2 scaling solutions on the blockchain today. It is a promising project bound to grow in 2023 despite the effects of FTX collapse.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) was developed to address challenges often faced in the venture capital and fundraising sectors. It does this using fractionalized NFTs.
Orbeon Protocol (ORBN) mints the fractionalized equity-based NFTs representing the worth of a company and then makes them accessible to investors for a low price. This means that all users of the Orbeon Protocol (ORBN) have equal opportunity to invest in early-stage ventures.
Orbeon Protocol’s NFTs-as-a-service also helps new businesses to raise capital from a wider pool of retail investors. Holders of ORBN tokens enjoy lower transaction fees, voting rights, staking rewards, and early access to investment opportunities among other benefits.
The crypto market has not been quite favourable, especially after the FTX saga but Orbeon Protocol’s presale does not show signs of slowing down any time soon. Industry experts forecast a price increase of 6000% by the beginning of 2023.
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