In a huge move aimed at supporting Bitcoin miners, Binance has recently launched a massive $500m lending project. To prop up the market after Bitcoin’s price struggles and Ethereum’s move away from a proof-of-work model, this money could be precisely what the mining industry needs to steer through troubled waters.
The crypto mining industry has been struggling recently, mainly because of Bitcoin’s general price decline, Ethereum’s move away from mining, and rising energy costs. Industry giant Binance has decided Bitcoin miners need help, and the recent lending announcement could be the answer. But not every project has been struggling recently. Newcomer Oryen continues to outshine other DeFi projects in its first presale phase. It could be the next big thing in crypto. Here’s why:
Oryen Network (ORY)
Oryen is looking to revolutionalize the crypto earning landscape with its innovative buy, hold, earn ethos, backed by the groundbreaking Oryen Autostaking Technic (OAT). OAT completely removes the complications associated with staking and gives real passive income gains to holders, paid directly into their wallets at hourly intervals. Over a year, these returns compound to a substantial 90% APY, the space’s most robust passive income gains. And by simplifying how people earn with crypto, a new generation of investors will be able to enjoy these passive income gains.
Bitcoin (BTC)
While Bitcoin has had a tough few months, the future is still bright, according to many experts. Especially if the funds from Binance do the job and help prop up the mining industry. Some believe that in the next bull run, BTC could quickly surge back up to all-time highs and beyond, making it a vital investment for your portfolio at the discount prices it’s available at now.
Conclusion
New investment funds being poured into the market should be viewed positively, but there are other credible projects like Oryen that don’t rely on a struggling mining industry. That’s why it could be the future.
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