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The Solana network seems to be plagued by frequent outages. The repeated outrages have had an adverse effect on the price of Solana's native token SOL, however recent price trends may indicate that a recovery is in order for Solana.
On the other hand, the newly launched Orbeon protocol token (ORBN) is enjoying a bullish run, especially after the launch of its first presale. Orbeon Protocol (ORBN) is currently in phase 3 of its presale following a 655% price increase.
In this post, we look at the effects of Solana (SOL) outages on its price and the reasons why the Orbeon Protocol (ORBN) is on an unstoppable rise.
On June 1st, 2022, Solana's price dropped more than 12% when the blockchain had its second outage in a month. Due to its second blockchain downtime in a month, Solana, the third biggest cryptocurrency after Bitcoin and Ether, dropped more than 12% after the outage.
On September 30th, the price of SOL hit $35.08, and by 1 October, it had dropped to $32 after another outage. For several hours, no network validators were accepting fresh blocks.
Because of this, all applications that were running on the Solana blockchain were shut down. News of the outage was first brought to light at around 1 PM Eastern Time by the Solana Status Twitter account.
In 2022, the Solana network has already seen 12 major failures. Checking Solana's "uptime webpage" from January 6, 2022, you'll see that its blockchain has had 12 major outages. According to Solana's internal uptime audit, the smallest disruption was 75 minutes, while the longest downtime lasted 18 hours and 12 minutes.
The outages have always had an adverse effect on the price of SOL. There has also been much criticism of Solana from the crypto industry.
Community members remain bullish on the future of Solana, however. Trading volume has seen a 34% rise over the previous week, meaning that demand for SOL is increasing – This could lead to a price increase in the near future.
Using Orbeon Protocol (ORBN), a decentralized launchpad, investors may purchase NFTs backed by equity in startups. Fractionalized NFTs allow investors to participate in startup funding rounds on a small scale without the usual investment requirements.
Previously, access to investment opportunities in promising startups was the preserve of a select few. The good news is that with the Orbeon protocol almost anyone can fractionally invest in a startup of their choice. For startups, it means they can finally start raising money without having to jump through regulatory hoops.
Orbeon Protocol allows startups to issue NFTs backed by equity. At that point, everyday investors can purchase these NFTs for as low as $1.
The 'Fill or Kill' safety feature of the Orbeon Protocol protects investors against losing capital. If a firm does not reach its financing goal within a certain time frame, investors will receive refunds automatically using this process.
Orbeon Protocol has gained attention because its novel approach to startup investment has the ability to shake up the $13.5 billion crowdfunding sector.
ORBN has seen a significant price increase during the first two phases of the presale, and more increases are anticipated until the presale concludes, where ORBN is likely to reach roughly $0.24.
Orbeon Protocol is one of the most anticipated presales in 2023 since the development team is also working on a Metaverse.
Website: https://orbeonprotocol.com/
Telegram: https://t.me/OrbeonProtocol
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