The Origin Protocol (OGN/USD) price has been in a consolidation interval up 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 mission that seeks to disrupt the largest verticals within the blockchain business. It has constructed tasks for decentralized finance (DeFi) and non-fungible tokens (NFT).
For the DeFi business, 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 offers 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 allows folks to create and customise the NFTs. One can even deploy their sensible contracts of their NFT marketplaces.
Finally, it has the Origin Token, which is a digital foreign money that lets folks stake within the Origin ecosystem. According to CoinGecko, OGN has a market cap of over $234 million.
The OGN price has moved sideways up to now few days as traders react to the continued launch of the Origin Dollar Governance (OGV) token. OGV will turn out to be the governance and worth accrual token for Origin Dollar stablecoin.
Launching this airdrop will likely be a lengthy course of. Last week, they held a prelaunch of liquidity mining campaigns. Later this month, they are going to 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 assert it.
Origin Protocol price prediction
The four-hour chart reveals that the OGN price has been in a tight vary up to now few days. The coin is buying and selling at $0.28, the place it has been up to now few days. This price is alongside the important thing help stage proven in inexperienced.
At the identical time, the coin is buying and selling alongside the 25-period and 50-period shifting 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 subsequent key help being at $0.1878, which was the bottom level on May twenty seventh. It can also be about 30% under the present price.
The publish Origin Protocol price prediction: OGN ripe for a 30% dip appeared first on CoinJournal.
