Why is Origin Protocol (OGN) gaining attention?

Highlights:

• Origin Protocol arranged an NFT charity drop for supporting Ukrainian citizens.
• 100% of the proceeds from the charity will be sent to the non-profits providing relief to Ukrainians.
• The OGN token returned 3.56% over the past 30 days.

The crypto market has witnessed a sharp decline in recent weeks due to multiple macroeconomic factors and the elevated tension between Russia and Ukraine.

However, the digital currencies rebounded this week as investors with renewed risk bet appetites shifted their focus on virtual currencies.

Origin Protocol (OGN) crypto is among the many other cryptocurrencies that came into the limelight this week.

Though there has been no apparent news for OGN recently, it is expected that the investors lauded the protocol's decision to support the people of Ukraine.

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In their official Twitter account, the company said they had organized an NFT charity drop on Origin Story to support Ukrainian citizens.

The overall or total proceeds from the charity will be sent to "reputable" non-profit organizations providing relief to the Ukrainians.

They have also thanked many artists who have already contributed to the charity.

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What is Origin Protocol (OGN)?

Powered by Ethereum, Origin Protocol is a platform that intends to bring non-fungible tokens (NFTs) and Decentralized Finance (DeFi) to the common people.

Origin worked for several years to build a decentralized e-commerce platform. Now it has turned its platform's focus on the NFTs and the experiences that they can enable.

It created a marketplace known as NFT Launchpad to simple the NFT issuance process while giving more controls to the creators.

What Is Origin Protocol OGN Crypto?

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Its flagship products include Origin Story and Origin Dollar. Origin Story has supported several high-profile NFT drops, and Origin Dollar (OUSD) is among the first stable coins to earn a yield automatically in the users' wallets.

Origin was co-founded by Matthew Liu and Josh Fraser in 2017 and some experienced engineers from big tech firms like YouTube and Google, PayPal, and Dropbox.

The governing token of the Origin ecosystem is OGN, which ensures the holders a transparent oversight and the developments of the platform.

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Bottom line:

Origin raised around US$38 million in private and public toke sales of OGN in July 2018 from various institutions as well as private investors.

Those investors include Patera Capital, Blockchain.com, Steve Chen (founder of YouTube), and Alexis Ohanian (Reddit founder).

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The OGN token was priced at US$0.3145 on Wednesday morning, up 1.09%, and its market capitalization was US$122.21 million. Its one-day volume was up 0.13% to US$30.96 million.

The token gave a return of 3.56% over the past 30 days. Its max and total supply are 1 billion, and its current circulating supply is 388.57 million.

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