Origin Protocol Price Prediction: Here’s the Catalyst to Watch

The strong comeback of the Origin Protocol price has hit a barrier in the past few days. OGN is trading at $0.6900, where it has been in the past two days. This price is about 207% above the lowest level this year, making it one of the best performing digital coins. In addition, the value of all its tokens in circulation has risen to over $478 million.

NFT, DeFi and OUSD Airdrop

Non-Fungible Tokens (NFT) are getting their swag back after the volume of transactions slowed in the first months of the year. This resurgence is partly because of the activities of Yuga Lab’s Bored Ape Yacht Club and other products. At the same time, activity in the DeFi industry has also rebounded, with the total value locked (TVL) in all platforms rising to over $222 billion. As a result, analysts expect that these two industries are the future.

Therefore, the Origin Protocol hopes to join these two industries and make it easy for developers and investors. Its first product is the Origin Dollar, a stablecoin that lets users earn a return by hodling it. The stablecoin is seeing strong growth and has a market cap of over $142 million. The other product is Origin Story, which is a platform that lets creators sell their personalized non-fungible tokens (NFT),

The Origin Protocol price has performed well ahead of the upcoming airdrop for OGN Hodlers. This airdrop will happen after the team issued a proposal to launch a new governance token for OUSD that would be claimable by OGN hodlers. It will become the value accrual token for Origin Story and have a veOGV mechanism that distributes economic and voting power to those committed to the success of the protocol.

Origin Protocol price prediction

The OGN price has risen ahead of the upcoming airdrop. This rebound happens after it found a strong support at about $0.2852. In addition, it has moved slightly above the 25-day moving average while the MACD has moved slightly above the neutral level. 

Now that it has struggled to move below the support, there is a likelihood that it will keep rising in the coming days. If this happens, the next key reference level to watch will be at $1.0, about 50% above the current level. This view will be invalid if it falls below $0.40.