Oryen Network Turning Heads After 150% Price Push As BNB And AVAX Stay Flat
Oryen Network is an innovative rebase protocol that has caught the attention of crypto enthusiasts within a short span of the presale phase. Its native token, $ORY, currently stands at 150% higher than the initial price. This upside move is expected to continue while major cryptos like AVAX and BNB stay flat in a sideways market.
What’s driving the demand?
The mainstay of Oryen’s ecosystem is the autostaking feature that allows anyone to generate passive returns up to 90% APY. This differs from other DeFi protocols with highly variable interest rates. As soon as you purchase $ORY, you are entitled to receive staking rewards with a fixed daily return of 0.177%. The protocol pays out every 60 minutes, and taxes on each trade drive these returns.
The treasury plays a pivotal role in creating a floor price for $ORY while protecting it from volatile market conditions. It will also fund new products and services by the Oryen team to expand the ecosystem and introduce new use cases for the token. Business2Community has recommended it as one of the best cryptos in 2022.
BNB and AVAX crawling at support
Large-cap cryptocurrencies have had the toughest time this year, with the likes of Binance Coin and AVAX struggling to reverse the momentum. BNB is holding steady at roughly $270 and has been trading in a sideways motion. A tough struggle between buyers and sellers has kept the price in check, and this is likely to continue until the bearish pressure exhausts.
On the other hand, AVAX is also stuck in a narrow range with insufficient volume to break essential levels. It is in a long consolidation phase that may continue with the current bearish trend. A bullish breakout is only possible with strong accumulation.
A bear market is often the soundest time to look towards promising projects yet to savour the bull run. Oryen, with a massive presale demand, has already garnered the attention of big industry players.
Find Out More Here:
Join Presale: https://presale.oryennetwork.io/register
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