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Analysts favor Orbeon Protocol (ORBN) and Tamadoge (TAMA), Enjin Coin (ENJ) leaves holders unhappy
As we near the end of a turbulent year for the cryptocurrency market, shrewd investors are already looking ahead to see what projects are long-term winners, and which will fall away. Enjin Coin once attracted a lot of attention but has fallen significantly, and so many are wondering whether it will be surpassed by Orbeon Protocol—which is currently up 525% in its presale phase—and Tamadoge.
Orbeon Protocol has many investors both in and outside of crypto circles excited. The project takes aim at the closed-off world of venture capital and enables everyday investors to participate in funding rounds for some of the most exciting early-stage companies.
Orbeon Protocol has created a multi-chain launchpad which enables them to connect high-potential businesses with everyday investors, creating a new source of funding for business while also enabling anyone to invest for as little as $1. This is doone through the platform’s use of equity-backed, fractionalized NFTs, which function as an investment in the startup.
Another reason for investor excitement is the role that the utility token ORBN plays. Required for launching funding rounds and investing on Orbeon Exchange, the token provides access to exclusive investor circles and also offers holders trading discounts on the secondary market element of the Orbeon ecosystem — Orbeon Swap. It also has a supply of just 888 million, with 40% available during its public presale.
ORBN has seen significant demand during presale as investors scramble to buy into the token before the presale concludes. The project’s token has since seen a 525% price increase, with ORBN rising from $0.004 to $0.021 in a matter of weeks.
Tamadoge is another project that many have been looking at, with the well-presented meme coin turning heads following the successes of Dogecoin (DOGE) and Shiba Inu (SHIB). The Tamadoge token, TAMA, is used in the Tamadoge ecosystem for playing games and buying NFTs.
The issue with Tamadoge, aside from its dramatic price decline over the last 12 months, is that the contract contains a “mint” function — meaning that more Tamadoge tokens could be created at any time by the owner. This means that Tamadoge is vulnerable to manipulation. As a result, the most serious investors are now staying away from Tamadoge, despite its bullish momentum in recent weeks.
While Enjin coin has seen a great deal of attention for its NFTs-as-a-Service offering, the issue it looks to be facing is whether Enjin Coin is taking too broad an approach to its product. While Enjin Coin focuses on gaming integration, it looks to appeal to all industries which could be a step too far.
Enjin Coin’s fans still believe that it is far too early to judge the likely potential of ENJ, although if they are correct they could indicate that it may be some time before any serious price appreciation comes to pass for Enjin Coin.
While Enjin Coin may well see its growth slow from now on, it’s likely that the one project destined to rocket beyond Enjin Coin is Orbeon Protocol. Analysts’ forecasts state that ORBN is likely to rise 6000%, therefore it’s likely that we see many high-market-cap projects overtaken by the newcomer.
Find Out More About The Orbeon Protocol Presale
