The Origin Protocol (OGN/USD) value 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 undertaking that seeks to disrupt the most important verticals within the blockchain business. It has constructed initiatives for decentralized finance (DeFi) and non-fungible tokens (NFT).
For the DeFi business, the builders have launched Origin Greenback, which is a stablecoin valued at over $68 million. It’s a stablecoin whose differentiating function is the yield it supplies 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 accordance 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 can even deploy their sensible contracts of their NFT marketplaces.
Lastly, it has the Origin Token, which is a digital foreign money that lets individuals stake within the Origin ecosystem. In accordance with CoinGecko, OGN has a market cap of over $234 million.
The OGN value has moved sideways previously few days as traders react to the continuing release of the Origin Greenback Governance (OGV) token. OGV will turn out to be the governance and worth accrual token for Origin Greenback stablecoin.
Launching this airdrop will probably be an extended course of. Final week, they held a prelaunch of liquidity mining campaigns. Later this month, they are going to 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 assert it.
Origin Protocol value prediction
The four-hour chart reveals that the OGN value 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 value is alongside the important thing help stage proven in inexperienced.
On the identical time, the coin is buying and selling alongside the 25-period and 50-period shifting averages whereas the Relative Energy Index (RSI) has moved to the impartial level.
Subsequently, the outlook of the Origin Protocol value is bearish, with the subsequent key help being at $0.1878, which was the bottom level on Might twenty seventh. It is usually about 30% beneath the present value.
The put up Origin Protocol price prediction: OGN ripe for a 30% dip appeared first on CoinJournal.