Bitcoin (BTC) is still widely considered the safest investment in the cryptocurrency space, but some altcoins have emerged with solid potential. Ethereum (ETH) and Orbeon Protocol (ORBN) have raised the interest of investors and analysts. Orbeon Protocol (ORBN) is currently in stage 9 of the presale and has seen a 1988% price appreciation. Let’s take a look at what they think and why.
Bitcoin (BTC) price above $23,000 – where is it going next?
Uncertainty among traders and investors about the direction of the next Bitcoin (BTC) move is holding the market in a consolidation phase. Several factors could impact the movement of the Bitcoin (BTC) price in the future, such as the Bitcoin (BTC) chart showing a price-RSI divergence pattern, which is a sign of relative trend weakness and usually leads to a retracement that has now been completed.
Selling pressure has been steadily decreasing, and daily on-chain flows show a total of $29.5 million for the Bitcoin (BTC) net flows on February 24th. The main demand for Bitcoin (BTC) seems to come from wallets owning 1k – 10k BTC, which is significant, as this address category controls the majority of the Bitcoin (BTC) in circulation.
Bitcoin (BTC) is currently trading around $23,000, with a 24-hour trading volume of $21 billion. The immediate support level is at $22,800, and a break below that level could expose the price of Bitcoin (BTC) to a drop to the next support area around $22,150.
Ethereum (ETH) Shanghai upgrade coming soon?
A significant change in the Ethereum (ETH) proof of stake system will arrive with the Shanghai upgrade, scheduled for March, and it will likely trigger a wave of demand in the liquid staking sector. In the current iteration of the staking process, the funds are locked in the deposit contract. The upcoming Shanghai upgrade will enable new and existing Ethereum (ETH) stakers to withdraw their funds as and when they want.
The increase in popularity of Ethereum (ETH) staking helps to improve security, and is an important contribution of the Shanghai upgrade to the Ethereum (ETH) network. The ability to unstake and withdraw rewards is very bullish for Ethereum (ETH) in the long run.
One scenario that needs to be taken into consideration is staking centralization. The inherent problem if it results in a few centralized providers that dominate the Ethereum (ETH) ecosystem, which could happen if the majority of new stakers choose to stake through a centralized exchange. This poses security risks.
The Shanghai upgrade marks the final completion of the transition to proof-of-stake and makes the Ethereum (ETH) ecosystem ready for further growth.
Orbeon Protocol (ORBN) multi-Chain DeFi launchpad
The Orbeon Protocol (ORBN) multichain launchpad aims to transform the VC and crowdfunding industry, enabling companies to make investing more accessible for everyone. Built on Ethereum (ETH), Orbeon Protocol (ORBN) will implement bridges to multiple chains, including Polygon (MATIC), Solana (SOL) and Binance Smart Chain (BSC).
Businesses and investors are able to bridge from Web2 to Web3 on the Orbeon Protocol (ORBN) ecosystem. After evaluation, new businesses and startups joining the Orbeon Protocol (ORBN) ecosystem turn their equity into fractionalized NFTs using smart contracts to automate the process.
One of the Orbeon Protocol (ORBN) ecosystem’s security features is a “Fill or Kill” mechanism. This provides security for investor funds and ensures that all investments are immediately refunded if funding targets are not met. Additionally, all the terms of the agreement are included in the Orbeon Protocol (ORBN) smart contract within the NFTs, which have been audited by Solid Proof.
At the time of writing, the ORBN token is worth $0.0835 during the ongoing presale, pocketing a 1988% gain for early investors. Analysts predict the price of ORBN to soar by 60x to $0.24 in 2023.
Find Out More About The Orbeon Protocol Presale