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Home » blog » Binance won’t acquire the embattled exchange FTX – Oryen outpacing the entire market with 120% Gains during ICO

Binance won’t acquire the embattled exchange FTX – Oryen outpacing the entire market with 120% Gains during ICO

Disclosure Fact Checked

If you wish to get in on the cryptocurrency craze, an ICO presale might be the way to go. These presales offer bonuses and other perks that make them highly attractive to potential investors. Of course, with any investment, there’s always a risk. But if you’re careful and do your research, an ICO presale can be a great way to take part in the cryptocurrency market.

Oryen, an upcoming staking platform, opened its ICO presale a month ago to much fanfare. The first month of presale concluded with a 120% price increase, and the fourth phase is believed to drive even more enthusiasts. The platform has been praised for its vibrant model and is seen as a trailblazer in the industry.

Understanding Oryen Network (ORY)

Oryen’s Autostaking Technic is a quick and easy way to earn and receive rewards, with a stable annual percentage yield of 90%. The protocol also has a rebase reward scheme that distributes awards to investor wallets every 60 minutes, making it one of the most rewarding protocols available.

ORY holders receive fixed returns, regardless of market conditions. The network also includes a treasury and wallet to support ORY and the protocol’s rebasing rewards system. This system incentivizes good behavior among ORY holders and keeps the network secure.

The token is generating a lot of buzz from crypto experts for a good reason! Crypto expert Darryl Boo is always looking for new stable crypto investments, and he believes that ORY could be a solid addition to any portfolio. So, if you’re considering getting into the crypto game, keep ORY on your radar. The price of ORY increases while the bonus decreases every seven days, as seen in the table below.

Presale Session Date ORY Price Purchase Bonus
Presale 2 02 Nov — 09 Nov $0.1 10%
Presale 3 09 Nov — 16 Nov $0.11 9%
Presale 4 16 Nov — 23 Nov $0.12 8%
Presale 5 23 Nov — 02 Dec $0.125 7%

Why did Binance consider buying FTX? What caused the platform’s fall?

The balance sheet of Alameda Research, FTX’s sister company, was reportedly stacked with FTX’s native exchange token, FTT. The report showed that Alameda has $14.6 billion in assets, with $5 billion in FTT. This caused questions about the exchange’s solvency. As a result, Binance, which had 23 million FTX tokens (worth $529 million), had to secure its position. To do this, Changpeng Zhao (CEO of Binance) tweeted that the firm would liquidate its remaining position in FTT. This caused the price to sharply decline.

Binance was then reported to bail out FTX by acquiring it. However, Binance decided to walk away from the deal due to financial and regulatory concerns. This decision caused the crypto market to tank, with Bitcoin prices dropping to a two-year low.

Key Takeaways

Oryen Network is becoming a top project for token holders because of its high rewards and safety. Therefore, according to analysts, it’s not surprising that it’s getting attention from FTT whales who wish to migrate to a safer and more dependable option.

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About rubylayram
About rubylayram

Ruby is a content editor and writer who has been creating content in the finance space for 4 years. Ruby attended the University of Winchester where she received an upper second-class honors degree.

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