[Blockchain Today Reporter Seung-won Jeong] On the 16th (local time), a new name rose to the top 100 in the market cap of cryptocurrency. Project Orbs (ORBS), a blockchain company that achieved a weekly growth rate of 700% after recording a 75% surge for a week, is the protagonist.
According to Cointelegraph reports, the day before Orbs was announced as Moonstake’s latest staking wallet. In an announcement on the 15th, Orbs and Moonsteak announced that “the partnership between the two companies will increase the adoption of blockchain technology in the banking and financial industries.”
According to CoinMarketCap’s data, ORBS token price rose 75% over 24 hours from the initial $0.168 range to a new all-time high of $0.295.
The Orbs broke their highs throughout the week, surpassing the previous high of $0.04, a 704% growth rate. On this day, three of the token’s five major markets came from trading pairs for the Korean won.
Orbs, headquartered in Israel in 2017, is focused on building a public decentralized blockchain infrastructure for use by businesses and enterprises. Daniel Peled, co-founder and CEO of Orbs, said, “The partnership with Moonsteak will bring more businesses to the blockchain in Southeast Asia and the Middle East.”
Moonstake is known to have paid proof-of-stake rewards to eight cryptocurrencies since its launch in the third quarter of 2020, and introduced a staked coin of $800 million.
Orbs (ORBS) is at the 104th place, down 18.94% from the previous day based on coin market cap as of 3 p.m. on the 17th (Korean time).
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