The allure of impressive Return on Investment is one of the major reasons why cryptocurrency enthusiasts invest in several digital currencies. Unfortunately, while some crypto projects such as Orbeon Protocol (ORBN) have lived up to expectations with an 805% price surge, some such as STEPN (GMT) and Ren (REN) have remained stable in the face of a bear market.
Ren’s Depreciation Continues Unabated
Ren is an open protocol designed specifically to offer liquidity and interoperability between blockchain platforms. The goal is to provide a platform that will expand the interoperability and accessibility of decentralized finance (DeFi) through the removal of hurdles in liquidity between blockchain networks.
REN is the protocol’s native token and it serves as a bond for developers running nodes that power Darknodes or RenVM.
Between February 2021 and now, the token depreciated from $1.83 to $0.05955, losing approximately 97% of its value.
STEPN: Solana Blockchain-Based Web3 Lifestyle App Fails to Live up to Expectations
The STEPN team tagged its project as a “Web3 lifestyle app.” Equipped with GameFi elements, the fitness app comes with a play-to-earn game that allows users to earn STEPN (GMT) while embarking on their fitness journey, birthing the “move to earn” concept.
STEPN users can buy NFT sneakers through which they can monetize their fitness journey while engaging in activities such as jogging, running, or walking.
STEPN is available for iOS and Android users. Within five months, it has passed the inception stage and is currently at the open beta stage.
Surprisingly, STEPN is one of those hit by the bearish cryptocurrency market. STEPN’s current market value of $0.2902 is far below its peak value of $4.11 just 8 months ago, representing 93% devaluation within that time frame.
Orbeon Protocol Records 805% Appreciation
While the bearish market has had a significant negative impact on STEPN and Ren, Orbeon Protocol has been bullish over time. The protocol aims to record 6000% appreciation as it continues to grow significantly.
The Orbeon Protocol team created the project to serve as a link between everyday investors and startups. The goal is to create a decentralized investment platform that allows investors to buy into startups with comparatively low funding.
Startups can raise funds by minting and issuing fractionalized, equity-backed NFTs as a form of investment. As well as this, holders of the projects native ORBN token gain access to staking rewards, governance rights and more.
ORBN is currently priced at $0.0362, however analysts expect that price not to last long, as some estimates place ORBN at $0.24 by the end of the presale.
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