The cryptocurrency market has been down all year in 2022. By the end of November 2022, it actually dropped by about 70% from its November 2021 high.
The FTX meltdown saw the market tumbling even further just when cryptocurrency fans believed they had seen it all. Given the widespread pessimism, many are curious about the future of the cryptocurrency sector and what we may anticipate from it in 2023.
There is hope, though, since most crypto analysts are predicting the market to begin to rebound in 2023.
Although it is impossible to know for sure owing to the volatility of the cryptocurrency market, it appears that Shiba Inu (SHIB), Solana (SOL), and Orbeon Protocol (ORBN) are some of the most important cryptocurrencies to keep an eye on in the coming year.
Orbeon Protocol (ORBN), for instance, is currently in phase 3 of its presale and already seeing massive gains. It is expected to grow by 6000% by the end of presale.
Shiba Inu (SHIB) Still Going Strong
Shiba Inu (SHIB) continues to draw new crypto investors despite the dismal market condition.
As interest in all meme currencies, and especially in dog-themed crypto coins, has risen in the wake of Elon Musk’s remarks and acquisition of Twitter, the value of the Shiba Inu currency has skyrocketed over the past two weeks. Some Shiba Inu critics have called Shiba Inu speculative, however in recent months Shiba Inu has found new utility through its partnerships with big brands John Richmond Fashion and Amazon.
When compared to Dogecoin (DOGE), the most popular meme-currency, the Shiba Inu (SHIB) coin has a better chance of seeing a price increase of approximately 150% in the next months. As such, many investors are loading up on Shiba Inu before 2023.
Solana (SOL): Highly Expected to Make a Comeback
One of the most rapidly developing smart contract platforms is Solana (SOL). In light of Ethereum’s prohibitive transaction fees and transaction processing times (TPS), Solana’s co-founder Anatoly Yakovenko theorized that a more efficient blockchain would be governed by a centralized clock.
The theory gave rise to Solana, which uses the same principle to attain speeds of 3,500 TPS with an average price of only $0.00025 per transaction.
With the FTX crypto exchange going down in November 2022, the value of Solana’s SOL coin plummeted by more than 60%.
Most didn’t see it coming back again but Solana (SOL)) staged a partial comeback, rising to $14.32 on December 6th before falling to roughly $13.98 the following day, peaking at $14.06 on December 13th, with Solana finally settling at around $12.10 on December 21st, 2022. In 2023, we anticipate a return to normalcy or even better from Solana.
Orbeon Protocol (ORBN) Setting New Highs
Orbeon Protocol (ORBN) is breaking records for its price while most other crypto initiatives are battling to even stay afloat. ORBN has shown promising early presale results, with almost a third of the available supply already sold.
Orbeon Protocol’s major selling point, however, is its utility as a blockchain-based investment platform, where startups and other new businesses can seek funding from investors using fractionalized NFTs.
The fractionalized, equity-backed NFTs may then be traded on a decentralized exchange for as little as $1, providing investors with opportunities to invest in companies of their choice without the usual restrictions.
The project also features a native ORBN token, which grants holders various benefits ranging from staking bonuses to governance rights and more.
As of now, ORBN is trading at a price of $0.0362, but experts predict that it will increase to $0.24 by the time the presale ends in January 2023.