Elrond and Terra Luna Classic are among the Top 50 Coins – Can Oryen, after the ICO’s 100% price surge, come anywhere close?
Cryptocurrency prices are highly volatile. Despite the sharp price fluctuations, the crypto market continues to grow steadily. More projects are going mainstream, and some merchants even accept cryptocurrencies as payment methods. However, many projects remain speculative, and very few people use tokens to store or exchange value.
As speculative assets, traders invest in tokens which will likely bring high returns. However, the declining crypto markets in 2022 have made it difficult to turn a profit, even with popular cryptos like Elrond (EGLD) and Terra Luna Classic (LUNC). But that is until the Oryen Network launched!
Understanding Orien Network
Oryen is a decentralized finance (DeFi) platform that allows users to stake their digital assets and earn interest periodically. The auto-staking protocol launched its native token’s (ORY) first phase presale in September 2022. In one month, ORY had doubled its value. Earliest ORY investors purchased the token for $0.05, and the jump to $0.10 drew them 100% gains.
Consequently, Oryen’s user base is swelling, inducing more demand for ORY tokens. Part of the reason for this surging interest in ORY is that the staking platform pays out a fixed interest in short periodic intervals, as soon as every hour. And Oryen’s interest rates are arguably the highest in the crypto market today – a whopping 90% fixed APY. ORY’s impressive performance has caught investors’ attention as traders aim to recover from the underwhelming returns of 2022.
The token is racking up support from a bustling community and helping to grow confidence among other traders about the project. Moreover, Oryen has developed a powerful staking platform that utilizes automated algorithms to sustain a steady flow of high yields to investors without human interaction. All tokens remain in the investor’s wallet while being auto-staked by the OAT mechanism (Oryen Autostaking Technic).
What is LUNC?
LUNC is the native token to Terra Luna Classic, a blockchain protocol that deploys fiat-pegged stablecoins to make faster and more efficient global payment services. Unfortunately, it is the result of Terra Luna’s devastating collapse that caused investors damages of more than $60B.
As a result, LUNC recorded one of the highest falls crushing from its April peak of $115 to under $0.0003 in November.
What is EGLD?
Electronic Gold, or EGLD, is the cryptocurrency that powers operations on Elrond Protocol. The protocol is an ecosystem that supports the building of decentralized apps and features a high transaction throughput of 15,000 tps for smart contracts. In addition, transactions on the network incur a small cost of $0.001.
Elrond users are eligible to earn EGLD and can use it to store or transfer value, for instance, by making payments. Also, transactions on the network are settled in EGLD. However, like other top coins this year, Elrond’s price fell steadily.
Traders who invested in big names like LUNC and EGLD also bore losses from the latest crypto market downturn. Already, ORY will jump to 150% when Phase 2 presale ends in early December. Reading from this trend, ORY could soon reach the top 100s by market cap. So those who are looking to offset these losses and revive their portfolios are turning to ORY, one of the few cryptos making hits in 2022.
Learn More Here
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Author: Michael Abetz
Michael has had a keen interest in investing in cryptocurrency and trading since the 2017 bull run, and is now a freelance writer producing educational material on decentralized finance topics online. Originally from Germany, Michael attended Kings College London to complete a course in Mechanical Engineering. Around the time of the …
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