Bad FTX news puts pressure on Solana, while Oryen is titled Best Altcoin to buy right now — Early ICO Investors see 2X returns

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The col­lapse of FTX has had a con­ta­gion effect, which has changed how the entire cryp­to world oper­ates. Thus far, cryp­to prices are falling, and it does not seem like they will abate soon. Many cryp­to coins have been affect­ed, but Solana has been hit hard­er than oth­ers have.

The Solana Foun­da­tion recent­ly revealed that it had invest­ed mil­lions of dol­lars in the FTX exchange. When FTX went dark, those assets were val­ued at over $33 mil­lion. When the FTX exchange col­lapsed, Solana was hit quite hard. The price of SOL fell by almost 60%, and it has con­tin­ued dip­ping. The lat­est rev­e­la­tion is like­ly to exac­er­bate the price woes for SOL.

Anoth­er issue is that FTX played an impor­tant role in man­ag­ing SOL’s crit­i­cal infra­struc­ture. Its col­lapse has led to a cri­sis for some of the indi­vid­ual pro­to­cols. For exam­ple, many  projects on Solana use Sol­let assets, which act as a stand-in for BTC. FTX was the backer and issuer of these assets. Its col­lapse has left var­i­ous pro­to­cols hold­ing bad debt. The total val­ue of Sol­let-based assets was val­ued at $40 mil­lion, with the sta­tus of the under­ly­ing assets unknown.

In short, Solana will have to deal with this addi­tion­al pres­sure from the col­lapse of FTX and its deep entan­gle­ment with its products.

Oryen is a Great Alternative

Those who com­mit­ted to SOL have seen their invest­ments wiped out in a few days. The col­lapse of SOL prices has dev­as­tat­ed big investors’ port­fo­lios. In the near term, that is unlike­ly to change. As a result, they need to look for alter­na­tives to bal­ance their losses.

One of the best alt­coins right now is $ORY. The tokens have seen the price grow 2x in just a short while. More­over, this growth is expect­ed to con­tin­ue for some time to come. Investors are opti­mistic because the 2x growth occurred dur­ing the project’s pre­sale phase.

The growth is dri­ven by the impres­sive whitepa­per of the project, which has some remark­able fig­ures. One of its most impres­sive is the fixed APY of 90%. Investors who stake their $ORY tokens can expect to see one of the biggest APY in the DeFi world. Since it is fixed, pre­dict­ing future returns will be much eas­i­er for investors.

Anoth­er rea­son investors are in love with this project is the speed at which rebase rewards are paid. On most oth­er projects, rebase rewards are paid out at eight hours. How­ev­er, Oryen Net­work devel­op­ers man­aged to reduce that to just 60 minutes.

Sum­ma­ry

The col­lapse of Sol prices may have left many investors feel­ing dis­traught. How­ev­er, the cryp­to world is full of cre­ative and bright minds. Always a great project to be found that could turn one’s for­tunes around. Thus far, the $ORY tokens of the Oryen Net­work have been vot­ed the best alt­coin to buy right now. It would be a great way to recoup some of the loss­es from the fall of SOL.For More Information:

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

Web­site: https://oryennetwork.io/

 

Dis­claimer: This is a paid release. The state­ments, views and opin­ions expressed in this col­umn are sole­ly those of the con­tent provider and do not nec­es­sar­i­ly rep­re­sent those of News­BTC. News­BTC does not guar­an­tee the accu­ra­cy or time­li­ness of infor­ma­tion avail­able in such con­tent. Do your research and invest at your own risk.

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