‘Dogecoin Killer’ Shiba Inu Shines Despite Almost 7% Monthly Loss: ‘Shiba Inu Sails Steadily,’ Analyst Says By Benzinga Investing.com UK
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‘Dogecoin Killer’ Shiba Inu Shines Despite Almost 7% Monthly Loss: ‘Shiba Inu Sails Steadily,’ Analyst Sa Benzinga
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Oryen’s 6th ICO phase has just begun, and early investors have seen a 250% return on their initial investment. Many other cryptocurrencies, including Solana and Cardano, cannot sustain such levels of profits in a bear market. As a result, holders of these two coins began to put their money into ORY.
Oryen (ORY)
Since Phase 1, when ORY was worth $0.05 and is now worth $0.175, its price has increased by 250% in its 6th phase. It is expected to go up by 320% in the next round. Therefore, all ICO buyers have the same chance to make money during the upcoming presale rounds.
Oryen Autostaking Technic (OAT) removes the human interaction barrier that might scare new crypto investors. Moreover, in an emergency, the ORY floor price is supported by a treasury funded with RFV. The Oryen Autostaking Technic (OAT) is unique among cryptocurrencies because it automates the staking process.
Oryen has a daily ROI of 0.177%, leading to an annual fixed APY of 90%. Most digital currencies have a lower yield. The fantastic staking mechanism in Oryen facilitates both investment and profit.
Many Solana and Cardano investors have started investing in Oryen Network due to ORY’s unique features and best ROIs. Business2community and The DeFi Guys declare that Oryen is one of the best DeFi coins to buy in 2022.
Cardano – ADA
Cardano is a public distributed ledger platform launched in 2015 by an early contributor to Ethereum, Charles Hoskinson. You can conduct P2P transactions with ADA. Investors of Cardano are eager to buy ORY now before its price rises because Cardano is volatile in a bear market.
Solana – SOL
Solana is recognized as a blockchain platform. Solana’s main selling point is that it’s a green form of cryptocurrency. FTX’s ongoing issues have severely impacted Solana. Currently, issued tokens are worth half as much as they did before due to their dependence on FTX. On the other hand, investors from Solana are prepared to put money in before the ORY price rises.
Closing Thoughts
Oryen Network, a novel staking platform, boasts a large and supportive user base and potential. Its success and the value it intends to bring to the market are demonstrated by the 250% return on investment it provided to early backers. In addition, ORY is a cryptocurrency with state-of-the-art technology and a strong team, making it a top choice for investors in 2022.
Find out more here:
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
Bitcoin, Dogecoin, and Ethereum were muted on Wednesday evening, with the global cryptocurrency market cap edging 0.4% lower to $2 trillion, as the U.S. Federal Reserve stuck to a hawkish tone even as war raged on in Ukraine.
| Coin | 24-hour | 7-day | Price |
|---|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.6% | 17.8% | $43,999.10 |
| Ethereum (CRYPTO: ETH) | 0.9% | 14.3% | $2,966.70 |
| Dogecoin (CRYPTO: DOGE) | -0.1% | 4.3% | $0.13 |
| Cryptocurrency | 24-Hour % Change (+/-) | Price |
|---|---|---|
| Anchor Protocol (ANC) | +20% | $4.49 |
| Convex Finance (CVX) | +13.1% | $21.27 |
| JUNO (JUNO) | +12.3% | $45.16 |
See Also: How To Buy Bitcoin (BTC)
Why It Matters: The U.S. Federal Reserve Chair Jerome Powell, in his semi-annual address to the Congress, said that rate hikes were coming despite the ongoing war between Russia and Ukraine.
“The bottom line is we will proceed, but we will proceed carefully as we learn more about the implications of the Ukraine war for the economy,” said Powell.
“We will avoid adding uncertainty to what is already an extraordinarily challenging, uncertain environment.”
On Tuesday, the Bank of Canada raised interest rates to 0.5%, a 25 basis-point hike for the first time since 2018.
“Wall Street is still going through a major reset with portfolios as the war in Ukraine poses major risks to economic growth and inflationary pressures,” wrote Edward Moya, a senior market analyst with OANDA, in a note seen by Benzinga.
Moya noted that Bitcoin was diversifying away from fiat currencies, and growth concerns were prompting investors to look for “alternative investments” from equities. However, he said the current rally could be losing steam.
“Bitcoin has had a nice run, but exhaustion in this rally will likely settle in as surging energy costs will likely impact some mining abroad,” Moya said, adding that the Ukraine war uncertainty still had the potential to trigger major de-risking moments.
On Wednesday, the dollar index – a measure of the greenback’s strength against six of its peers – traded nearly flat. It edged up 0.03% to $97.3290, according to a Reuters report.
Cryptocurrency trader Justin Bennett said the dollar index would be a “key driver” for digital assets in 2022.
“If [Bitcoin] intends to hit all-time highs, the DXY will lead the way with a move below 95,” tweeted the analyst.
“Most are overlooking this, but the #DXY will be a key driver for #cryptos in 2022.”
If #Bitcoin intends to hit all-time highs, the DXY will lead the way with a move below 95.
Until then, it’s wise to remain a little skeptical.
— Justin Bennett (@JustinBennettFX) March 1, 2022
On the Ethereum front, Median Gas Price (7-day moving average) reached a 6-month low of 57.884 GWEI, according to data from Glassnode, an on-chain analytics firm.
Ethereum Median Transaction Gas Price (7-Day Moving Average) — Courtesy Glassnode
The average ETH transaction fee stood at 0.0046 ETH or $13.69 at press time, according to data from BitInfoCharts.
Read Next: Citadel Securities Will Engage In Crypto This Year: Ken Griffin