An altcoin that aims to bring decentralized finance (DeFi) and non-fungible tokens (NFTs) to the masses has found itself in the middle of a massive rally despite the recession in the crypto markets.
Built on the Ethereum blockchain Origin Protocol (OGN)is an ecosystem that focuses on NFTs, DeFi and has its own stablecoin.
The platform’s Origin Story feature allows users to create their own decentralized NFT marketplaces with custom preferences. local presence of the project. Origin Token (OGN) can also be used to have a stake in the ecosystem. Yields are automatically generated, a stablecoin that users can accumulate in their own wallets without the need to stake or lock their coins. to Origin Dollar (OUSD) is converted.
Last week, the project shared a governance proposal with its community to decide whether to issue a new token for OUSD, which will then be airdropped to OGN holders.
Important governance proposal for all $OGN holders:
Should we launch a new governance token for $OUSD with a 1:1 airdrop to all $OGN holders?https://t.co/d80l6Kh2qf
— Origin Protocol (@OriginProtocol) March 10, 2022
Three days later, OGN took off, and within two days its price had doubled. The cryptocurrency, which started its rally from $0.26 on the 13th of the month, reached a local high of $0.52 earlier today.
OGN, which holds most of its earnings, is trading at $0.47, up nearly 15 percent in the last 24 hours. Despite this, the altcoin is still trading at a discount of over 85% from its all-time high of $3.35 set in April 2021.
Leading crypto assets as OGN gains Bitcoin (BTC) and Ethereum (ETH)trading mostly sideways, with gains of 2 percent and 3 percent, respectively, over the past seven days.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.