The Origin Protocol (OGN/USD) price has been in a consolidation interval prior to now few days as demand for the coin wanes. The token is buying and selling at $0.27, which is about 84% above the bottom level in May. Its market cap has risen to $234 million.
What is Origin Protocol?
Origin Protocol is a fast-growing blockchain venture that seeks to disrupt the most important verticals within the blockchain trade. It has constructed tasks for decentralized finance (DeFi) and non-fungible tokens (NFT).
For the DeFi trade, the builders have launched Origin Dollar, which is a stablecoin valued at over $68 million. It is a stablecoin whose differentiating characteristic is the yield it supplies to its holders. At the time of writing, Origin Dollar has an APY of 12%.
It is pegged to the US greenback and secured by different stablecoins like USDT, USDC, and Dai. According to the builders, Origin Dollar holders can insure their cash utilizing Nexus Mutual or InsurAce.
Origin Protocol additionally runs Origin Story, which is a platform that permits individuals to create and customise the NFTs. One also can deploy their sensible contracts of their NFT marketplaces.
Finally, it has the Origin Token, which is a digital foreign money that lets individuals stake within the Origin ecosystem. According to CoinGecko, OGN has a market cap of over $234 million.
The OGN price has moved sideways prior to now few days as buyers react to the continuing release of the Origin Dollar Governance (OGV) token. OGV will turn into the governance and worth accrual token for Origin Dollar stablecoin.
Launching this airdrop will probably be a lengthy course of. Last week, they held a prelaunch of liquidity mining campaigns. Later this month, they’ll publish the ultimate record of exchanges that may help OGV. The OGV airdrop will occur on July twelfth whereas October 10 would be the deadline to say it.
Origin Protocol price prediction
The four-hour chart reveals that the OGN price has been in a tight vary prior to now few days. The coin is buying and selling at $0.28, the place it has been prior to now few days. This price is alongside the important thing help degree proven in inexperienced.
At the identical time, the coin is buying and selling alongside the 25-period and 50-period transferring averages whereas the Relative Strength Index (RSI) has moved to the impartial level.
Therefore, the outlook of the Origin Protocol price is bearish, with the following key help being at $0.1878, which was the bottom level on May twenty seventh. It can be about 30% beneath the present price.
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