Orion Protocol is a decentralized platform that provides a gateway to the entire crypto market by aggregating the liquidity of all centralized exchanges, decentralized exchanges, and swap pools in one place. The Orion Terminal provides an array of tools for trading with zero slippage – without having to give up control of private keys.

The platform is powered by ORN, Orion Protocol’s utility token, which is integrated into all main transactions and provides 18 revenue streams. In the relatively short time that ORN has been on the market, its price has already seen significant change, and if you want to know why then you’re in the right place. We’ve compiled everything you need to get a better understanding of ORN price – as well as the factors which influence it.

Orion Protocol Price History

ORN joined the crypto market during the “summer of decentralized finance” following an initial coin offering in July 2020. It began trading at $0.76 but quickly shot up to over $3, before retracing to end the month at about $2. The rally continued at the start of August when ORN surged to more than $7. Prices soon crashed, however, and by the end of that month, ORN was worth less than $3.50.

The Orion Protocol’s price dipped below $2 in the first week of September and consolidated around that level for most of the rest of the month until a spike at the end of September briefly saw ORN surpass $4 again. Prices went into decline once more in October, when ORN reached a low of $1.31. After trading sideways for a month, ORN made some gains at the end of November, which took prices over $4 in early December. The rest of the year then displayed a bearish trajectory, and at the close of 2020, ORN was trading at $2.14.

Prices soon began to climb in 2021, as ORN reclaimed $3 in January and then more than tripled in price in February. The positive momentum continued for most of March, as ORN surged to its all-time high of $30.15 on March 22, representing year-to-date gains of 1,300%. At that point, Orion Protocol had a market cap of $600 million.

Over the course of the next month, prices decreased by two-thirds, with ORN hitting a low of $10 in late April. Some fresh bullish activity at the end of the month took prices up to almost $20 by the start of May. However, this was followed by a further pullback and ORN touched lows of $4.62 later in the month during a crash of 31% on a single day. As June started though, ORN was once again trading above $7.50.

Analyzing Orion Protocol Price History

ORN price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With ORN, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their ORN coins on exchanges.

Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. Orion Protocol’s founder has extensive blockchain experience, having previously created the Waves DEX. He was also the lead IT project manager at UniCredit Bank Russia. The project has developed a large ecosystem, comprising infrastructure partners such as Binance Smart Chain and Cardano, and a broker network including KuCoin and Chainlink. These could be good signs for the fundamental value of Orion Protocol.

Broader market trends have also played a role in the price history of ORN. Its surge early in 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.

The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.

The overall price trend of ORN tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of Orion Protocol (ORN)

A variety of different things can affect the market price of ORN, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider crypto and global economies.

ORN has a capped max supply of 100 million tokens, making it a scarce asset, like Bitcoin. No new tokens will be minted beyond the token generation event, and efforts by the protocol to strategically and frequently remove tokens from the circulating supply mean that ORN is deflationary, which puts upward pressure on its price in the long term.

Demand for ORN is driven by its utility and Orion Protocol incentivizes holding the coin through a range of benefits, including discounted trading, additional premium platform services, and priority access to other products. ORN will also be used to pay for services in the decentralized app marketplace.

Orion Protocol provides further incentive to buy ORN through the ecosystem’s 18 revenue streams, which all have the token at their core. As well as the opportunity to generate returns through staking, ORN holders can earn fees from a wide range of sources, including Orion Terminal, Orion Oracle, Orion Lending, and Orion Decentralized Brokerage.

It is likely that demand for ORN will increase with the number of Orion Protocol users. Project upgrades, partnerships, and community engagement that drive protocol adoption could therefore boost the Orion Protocol price.

Live Orion Protocol Value and Market Cap

The market price of ORN varies from moment to moment as it’s dictated by the balance of buy and sell activity on exchanges, which is in constant flux. 

Given ORN’s volatility, its current price can change by a large amount in a very short space of time. The market cap of Orion Protocol is equal to the price of ORN multiplied by the number of ORN in the circulating supply.

Orion Protocol Price FAQ

How is the price of ORN calculated?

ORN’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying ORN than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of ORN different on different crypto exchanges?

ORN’s price is based purely on trading as there is no standard global ORN price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.

What will ORN be worth in the future?

It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of ORN. However, the success of Orion Protocol could mean an increase in ORN price, as more protocol users will likely mean more ORN holders.

Conclusion

In the relatively short time that ORN has been on the market, its price has seen significant change, going from lows of under $1 to highs of over $30. Its journey hasn’t been smooth, however, as ORN’s volatility has led to surges and crashes along the way.

Many different factors have played a role in determining the price of ORN, including demand driven by the token’s many revenue streams, the number of people using Orion Protocol, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Orion Protocol and cryptocurrencies!