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Orion protocol (ORN) price prediction: A DeFi token to watch?

By Ankish Jain

Edited by Alexandra Pankratyeva

12:22, 14 February 2022

Orion protocol crypto currency digital payment system blockchain concept. Cryptocurrency isolated on earth night lights world map background. Vector illustration
Orion protocol (ORN) price prediction: A DeFi token to watch? – Photo: Shutterstock

Decentralised finance (DeFi) gained momentum last year due to higher usage, new applications and strong investment. The trend is showing no sign of fading, with $83.33bn in total value locked (TLV) in DeFi projects, as of 14 February 2022, according to DeFi Pulse. However, a bearish start of the year for the broader crypto market has caused many DeFi coins to pull back from last year highs.

Similarly, orion protocol (ORN), a DeFi protocol, witnessed a rapid growth in the first quarter of 2021, reaching an all-time high of $29.29 on 22 March 2021, according to CoinMarketCap. At the time of writing (14 February), the ORN token was trading at $3.80, down 87% from its all-time high. Additionally, it hit a 90-day low of $3.08 on 24 January 2022.

Can the orion crypto price uptick in 2022? Let’s take a look at the project’s fundamentals and development to get a clearer view of an ORN price prediction.

Orion protocol (ORN) price prediction

What is Orion protocol?

Orion is a decentralised blockchain platform that offers a range of products and services, including a decentralised exchange (DEX) and a decentralised brokerage with staking mechanisms and B2B services.

Orion is non-custodial. It enables users to promptly send cryptocurrencies to cold storage wallets upon purchase. No assets are stored on the platform. Cold storage wallets mitigate the dangers of phishing, fraud and downtime often faced by centralised cryptocurrency exchanges.

Orion has a custom-built matching engine that maintains real-time connections to dozens of cryptocurrency exchanges. In addition, it uses linked order books to enable users to trade cryptocurrencies at competitive rates, saving on transaction costs.

Orion's value is derived from its integrated liquidity aggregator, which automatically connects users to various exchanges in order to find the best price for every supported cryptocurrency. According to the project’s whitepaper: “Orion is a new kind of DeFi platform that combines the best features of exchanges, brokerages, and instant trading apps.”

The platform is powered by the ORN native utility token, hosted on the Ethereum blockchain. The token is used to pay trading fees, earn staking incentives, vote for the broker of the user's choice, pay for premium features such as margin trading, and for brokers to stake in decentralised brokerage.

“Orion Protocol solves some of the largest issues in DeFi by aggregating the liquidity of the entire crypto market into one decentralised platform. Governing the protocol is the proprietary staking mechanism Delegated Proof of Broker, fulfilling every function via a decentralised brokerage with the supply-capped ORN token at its core,” stated the whitepaper. 

Orion protocol news and price drivers

The project has undergone a number of significant milestones and developments lately, which may drive the orion protocol coin price.

Launch of Orion Bridge V2 

In February 2022, Orion Protocol introduced Orion Bridge V2 to improve platform compatibility. V2 was introduced a week after the launch of V1.

As an outcome of this launch, customers will be able to trade an increasing variety of ERC20 assets while taking advantage of Binance Smart Chain's speed and network costs.

According to Orion, it’s the first and only bridge to be incorporated into a trading platform, providing full cross-chain, cross-exchange liquidity aggregation for the first time.

Partnership with Moonpay

Orion Protocol partnered with Moonpay in December 2021 to offer fiat-to-crypto purchase.

By integrating MoonPay, Orion streamlined the fiat-to-crypto conversion process for its customers, allowing them to purchase and trade crypto on Orion Terminal with cash without leaving the platform.

The MoonPay on-and-off-ramp product suite enables seamless conversion between fiat currencies and cryptocurrencies using all primary payment methods, including debit and credit cards, local bank transfers, Apple Pay, Google Pay and Samsung Pay.

Integration of Orion’s RSS Feed into Crypto.com

In September 2021, Crypto.com, a cryptocurrency exchange, gained access to Orion's RSS feed, allowing its users to monitor Orion's development progress.

The new feature integration offered users a portal to the progress of Orion's premium products and the newest chart, trading volume, market cap statistics and news postings.

BTC/USD

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Short position overnight fee 0.0137%
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0.54 Price
+4.370% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
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BCH/USD

505.05 Price
+4.180% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

Partnership with Paribus

In September 2021, Orion Protocol announced a partnership with Paribus, a Cardano-based cross-chain lending platform. As a result of this collaboration, Orion will offer Paribus comprehensive non-fungible token (NFT) price data through its NFT Oracle. 

According to the company’s official blog post, Orion is committed to supporting the long-term viability of the DeFi ecosystem as a whole, which includes the developing NFT market. 

Orion’s NFT Oracle will allow the determination of fair pricing based on sales and sentiment, assuring the NFT space’s stability.

ORN/USD price analysis

As per ICO Drops, ORN token’s ICO was launched in July 2020. Since then, it has yielded a ROI of 406%, according to CoinMarketCap, as of 14 February.

Based on the earliest available price data from 2020, ORN token fell to an all-time low of $0.53 on 16 July, immediately following its launch. After that, however, it snowballed and climbed to $6.41 on 10 August, a spike of 1,109% in less than a month. 

Post the rally, ORN fell to $2.10 on 5 September and bottomed to $1.40 on 20 October. It spiked again and reached $3.91 on 7 December, closing the year nearly 46% lower at $2.12.

At the onset of 2021, ORN traded sideways, hitting $2.14 on 12 January. The bullish rally started and the ORN coin value spiked more than 1,268% to reach $29.29 on 22 March. The retracement sent the price to $10.79 on 24 April and further down to $3.72 on 20 July, a decline of more than 87% from the peak.

Bulls reignited the rally. The ORN token reached $11.58 on 15 September, but gradually slid to $5.21 on 14 December. It closed the year at $6.43.

ORN has been bearish since the start of 2022, making a 90-day low of $3.08 on 24 January. At the time of writing (14 February), ORN was trading at $3.80. It had a market capitalisation of $156m.

Orion protocol (ORN) all-time performance

Orion protocol (ORN) price prediction: Targets for 2022, 2025 and 2030

According to CoinCodex’s technical analysis, short-term sentiment for the coin was bearish, with 24 indicators showing bearish signals and two bullish, as of 14 February 2022. 

All the daily and weekly simple moving averages (SMA) and exponential moving averages (EMA) gave ‘sell’ signals. The volume-weighted moving averages (VWMA) and the Hull moving average (HMA) were also bearish.

The stochastic RSI (stoch RSI) gave a ‘buy’ signal. Meanwhile, the moving average convergence divergence (MACD), Williams percentage range, and the relative strength index (RSI) were neutral.

The orion protocol price prediction from CoinCodex suggested the price could rise by 7.55% to reach $4.05 by 19 February 2022.

Speculating on the future orion protocol coin price, algorithm-based forecasters shared mixed long-term ORN predictions, as of 14 February:

  • According to Wallet Investor’s orion protocol prediction, the coin’s average price could fall to $1.36 by the end of 2022 and to $0.05 by 2025. The five-year estimate for ORN/USD indicated that it could bottom to $0.04 in February 2027.

  • Orion protocol crypto price prediction from Digital Coin suggested the average price in 2022 could be $5.07, moving up to $5.97 in 2023, $8.27 in 2025 and $17.82 in 2030.

  • Price Prediction's ORN crypto price prediction expected the average price to reach $5.42 in 2022, $15.99 in 2025 and $95.77 in 2030. The ten-year estimate for ORN/USD indicated that it could rise to $148.93 in 2031.

When looking for ORN coin price predictions, bear in mind that analysts’ and algorithm-based targets can be wrong. These orion protocol coin price predictions are based on fundamental and technical studies of the token’s past performance. Past performance is no guarantee of future results.

It’s essential to do your research and remember that a decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. You should never invest money that you cannot afford to lose.

FAQs

Is orion protocol a good investment?

Orion is a DeFi protocol that competes with other established DeFi platforms, including Avalanche (AVAX) and Terra (LUNA) etc. It has partnered with several popular platforms such as Moonpay and Crypto.com to offer cross platform functionalities. Meanwhile, the ORN token’s price action has been bearish since making the high in March 2021. 

Still, whether the coin is a good fit for your investment portfolio depends on your circumstances and risk tolerance. You should estimate the level of risk you are ready to take before investing. And never invest money that you cannot afford to lose.

How high can the ORN coin go?

According to the ORN/USD forecast from Price Prediction (as of 14 February 2022), it could reach $148.93 in 2031. Note that algorithm-based price targets can prove to be wrong.

Will orion protocol (ORN) hit $50?

Algorithmic forecasting services Digital Coin and Price Prediction (as of 14  February) suggested the coin had potential for gains. Price Prediction estimated the ORN token could exceed $50 by 2029. Meanwhile, Wallet Investor was bearish, predicting the token could fall to $0.04 in February 2027.

What does Orion protocol do?

Orion protocol (ORN) is a decentralised open-source blockchain platform that operates as a liquidity provider for both centralised and decentralised exchanges.

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