The crypto world is full of unique features that make it stand out from other markets. In addition, many altcoins have fascinating ecosystems that help them grow their community rapidly.
Oryen (ORY) is a new reserve currency that has doubled its price during the ICO. This means early buyers of the ORY token have already made a 110% profit even before the end of the presale’s second phase. Not only this, but the Oryen project is also implementing a unique pricing and bonus scheme to reward early token buyers. With the crypto markets tanking and exchanges like FTX reportedly going bankrupt, investors are now turning their gaze to this revolutionary project.
Understanding Oryen Network
ORY’s auto-staking technology allows you to earn high APY rates without having to do any extra work. Instead, just buy and hold ORY in your wallet to start earning interest. With rates up to 90% per year (0.177% per day), it becomes a great way to grow your crypto holdings.
The network has also created an RFV wallet to support the floor price and stabilize liquidity pools. RFV, or Risk-Free Value wallet, is supported by buy-and-sell taxes and will store stablecoins and protocol-owned liquidity at the lowest $ORY pricing. In addition, Oryen has also passed its first audit by SolidProof, a well-known and respected smart contract auditing firm.
Crypto enthusiast Darryl Boo recently talked about the ORY project on his Youtube channel. Further, Oryen has also been included in a list of the top Defi tokens for 2022 compiled by Business2Community.
FTX Bankruptcy
FTX is a cryptocurrency exchange headquartered in the Bahamas with over one million users. In addition, it operates FTX.US, a separate exchange available to US residents.
FTX faces insolvency after CoinDesk revealed that Alameda Research, FTX’s sister company, has a balance sheet stacked with FTX’s native exchange token, FTT. According to the report, Alameda has assets worth $14.6 billion, with over $5 billion in FTT, which raised questions about the exchange’s solvency.
As a result, Binance, which holds about 23 million FTX tokens (worth $529 million), had to secure its position. Thus, Changpeng Zhao (CEO of Binance) tweeted that the firm would sell its remaining holdings of FTT. This sent the price of FTT reeling, only to rebound when Alameda Research’s Caroline Ellison offered to buy the rest of Binance’s remaining FTT stake for a price of $22.
Bottom Line
Amidst high market volatility, Oryen has emerged as one of the best altcoins this year. Its substantial price performance and unique features set it apart from the competition. Moreover, it also enjoys a robust staking model that will help it outperform many other altcoins in the long run.
Learn More Here
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
