The Origin Protocol (OGN/USD) worth has been in a consolidation interval previously 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 Might. Its market cap has risen to $234 million.
What’s Origin Protocol?
Origin Protocol is a fast-growing blockchain mission that seeks to disrupt the largest 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 Greenback, which is a stablecoin valued at over $68 million. It’s a stablecoin whose differentiating characteristic is the yield it offers to its holders. On the time of writing, Origin Greenback has an APY of 12%.
It’s pegged to the US greenback and secured by different stablecoins like USDT, USDC, and Dai. In keeping with the builders, Origin Greenback holders can insure their cash utilizing Nexus Mutual or InsurAce.
Origin Protocol additionally runs Origin Story, which is a platform that allows individuals to create and customise the NFTs. One may deploy their good contracts of their NFT marketplaces.
Lastly, it has the Origin Token, which is a digital forex that lets individuals stake within the Origin ecosystem. In keeping with CoinGecko, OGN has a market cap of over $234 million.
The OGN worth has moved sideways previously few days as buyers react to the continued release of the Origin Greenback Governance (OGV) token. OGV will change into the governance and worth accrual token for Origin Greenback stablecoin.
Launching this airdrop might be an extended course of. Final week, they held a prelaunch of liquidity mining campaigns. Later this month, they may publish the ultimate checklist 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 worth prediction
The four-hour chart reveals that the OGN worth has been in a good vary previously few days. The coin is buying and selling at $0.28, the place it has been previously few days. This worth is alongside the important thing help stage proven in inexperienced.
On the similar time, the coin is buying and selling alongside the 25-period and 50-period transferring averages whereas the Relative Energy Index (RSI) has moved to the impartial level.
Due to this fact, the outlook of the Origin Protocol worth is bearish, with the following key help being at $0.1878, which was the bottom level on Might twenty seventh. Additionally it is about 30% under the present worth.
The publish Origin Protocol price prediction: OGN ripe for a 30% dip appeared first on CoinJournal.