19 Nov 2022 · 3 min read

Polygon is one of the better performers amid FTT and SOL weaknesses - How will Oryen perform after its ICO?

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

The most important thing to remember when investing in cryptocurrency is that the market is highly dynamic. Therefore, what might be a good investment today might not be a good investment tomorrow. This is why it's essential to stay up-to-date on all the latest news and trends in the industry.

If you've kept an eye on the world of cryptocurrency, you've probably heard of Oryen Network. Oryen is a blockchain platform that provides several advantages over other platforms and will only gain more popularity in the coming years. Here's why you should invest in Oryen Network in 2022.

What is the Oryen Network (ORY)?

Oryen's primary goals are to change how investors stake and to provide rebasing rewards for ORY token holders. These rewards are given out every 60 minutes based on a percentage of the total number of tokens held.

Oryen offers a great way to generate passive income and accumulate fixed yield through them. This is further enhanced by its unique auto-staking mechanism (OAT). With ORY tokens, you can get up to a 90% APY fixed yield, which is one of the highest rates available in the crypto world.

ORY has an elastic supply, which means the initial token supply in circulation increases or decreases automatically according to the token's price. The network's initial supply is currently at – 40 million. The more demand for ORY tokens, the bigger the pool gets. Oryen then uses a positive rebase formula to keep the 'supply house' going.

All of this has diverted a lot of popularity towards the platform. In fact, Crypto enthusiasts like Daryl Boo and Steven Clarke have picked the Oryen Network as the top crypto choice for 2022. The table below shows how the price of ORY goes up while the bonus goes down every seven days.

Presale SessionDateORY PricePurchase Bonus
Presale 202 Nov — 09 Nov$0.110%
Presale 309 Nov — 16 Nov$0.119%
Presale 416 Nov — 23 Nov$0.128%
Presale 523 Nov — 02 Dec$0.1257%

Polygon's Rise in 2022

MATIC, the native cryptocurrency of Polygon, is an Ethereum network-based ERC-20 token. This cryptocurrency handles transaction fees, staking, and governance on the Polygon network. According to Coinmarketcap, over eight billion MATIC tokens—out of 10 billion—are currently in use.

MATIC has surged past a price of $1 following a significant partnership with Meta (formerly Facebook). This is the first time it has reached this price since August 2022. 

However, the blockchain gained popularity after the stock brokerage Robinhood announced it would list Polygon on its platform. Further partnerships include Nubank hosting its Nucoin on the chain.

FTT's Dramatic Fall

FTX was valued at $32 billion a few months ago. The self-made billionaire Sam Bankman-Fried built himself a crypto empire. Still, it was nothing more than a sandcastle that washed away and took up to $50 billion into the endless sea of decentralized finance.

FTX's token, FTT, is a utility token that gives users access to the functions and offerings of the FTX trading platform. It serves as the FTX ecosystem's native token. However, a CoinDesk article from November 3 questioned FTX's solvency, as it reported that Alameda Research's balance statement was filled with FTT. And that's the big downside to crypto startups that finance their business by issuing tokens without real use cases.

Binance owned many FTT tokens, which it got from an earlier deal with FTX. However, after CoinDesk uncovered it, Binance announced the sale of all of its FTT, causing a chain reaction, where FTT crashed after Zhao's November 6 tweet, going from close to $25 to its current price of less than $3.

How is SOL (Solana) performing?

Solana introduced a proof-of-history (PoH) algorithm, which provides security and decentralization while transaction speed stays high and gas fees are low. As a result, the Solana blockchain can maintain a level of 2,000 transactions per second, making it a valid competitor to the Ethereum network, the second-largest cryptocurrency by market capitalization.

Solana's SOL coin dropped nearly half in value less than a day after the market shrank when the FTX exchange's proposed takeover by Binance (BNB) was canceled.

SOL's losses may have been made worse by FTX founder Sam Bankman-Fried's support of the coin earlier this year. In August, Bankman-Fried said Solana was "the most underrated crypto."

Key Takeaways

Oryen Network is currently in phase 4 of its ICO, and time is running out! With the turn of events from its first ICO, one can agree that it has the potential to grow and outpace the competition in DeFi. So don't miss your chance to get in on the action!

Learn More Here

Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/