The creators of the Orion Protocol (ORN) hope to cash in on the cryptocurrency trading explosion.
To explain, they are creating the Orion Terminal, an aggregator that will offer one stop shopping for cryptocurrency traders. They claim Orion can aggregate every centralized crypto exchange (CEX), decentralized exchange (DEX) and swap pool into one decentralized platform.
One purpose of Orion is to aggregate liquidity from major exchanges. Orion’s developers claim their platform can offer enormous amounts of liquidity.
One Stop Shopping and Bottomless Liquidity
They claim Orion gives traders access to the liquidity of the entire crypto market. Thus, a trader could theoretically use Pancake Swap liquidity to finance trades on Coinbase through Orion.
In addition, they claim Orion traders will keep control of private keys. In fact, they claim wallets can access “bottomless liquidity” through Orion.
Moreover, Orion claims it can reduce both trading fees and slippage. Plus, the Orion their algorithms can get traders the best prices when selling cryptocurrency.
The business plan at Orion is to aggregate as many crypto exchanges as possible. Consequently, they claim speculators can access those exchanges’ order books without accounts. Instead, all the trader will need to do is connect her wallet to Orion and execute the order.
Can Orion (ORN) solve Crypto Traders’ Biggest Problems?
Orion’s team claims to have solved what they call three of the biggest problems facing cryptocurrency traders. Those problems are insufficient liquidity, lack of non-custodial solutions, lack of access, and unscalable solutions.
For example, many exchanges only work with Ethereum request for comment (ERC-20) or Binance Smart Chain (BSC) tokens. In addition, many crypto swapping protocols have limited capacity, which makes them slow and hard to scale. They claim Orion is scalable, which theoretically makes Orion faster by giving a higher capacity.
The Orion Protocol
They call Orion a Chain Agnostic Platform. To explain, chain agnostic refers to a platform they design to operate on multiple blockchains at once.
For example, a platform that operates on the Binance Smart Chain, Polygon, Solana, Avalanche, EOS, and Ethereum. In particular, the Orion Protocol can integrate with the Cardano Blockchain.
Hence, they claim, Orion is the first liquidity aggregator that works with the Cardano blockchain. Orion also integrates with Fantom and Polkadot. Hence, Orion is a liquidity aggregator for Fantom (FTM) and Polkadot (DOT).
What Value Does the Orion Protocol (ORN) Have?
Mr. Market likes the Orion Protocol (ORN). In fact, Orion (ORN) was CoinMarketCap’s 283rd largest cryptocurrency on 26 January 2022.
Moreover, CoinMarketCap named Orion the 11th most trending cryptocurrency on 20 January 2022. In detail, CoinMarketCap gave Orion a Coin Price of $3.96, a Market Capitalization of $162.787 million, a Fully Diluted Market Cap of $395.593 million, and a 24-Hour Market Volume of $13.717 million on 26 January 2022. They based those numbers on a Circulating Supply of 41.150 million ORN, Maximum Supply of 100 million ORN, and a Total Supply of 100 million ORN.
In contrast, CoinGecko ranked the Orion Protocol (ORN) as the 342nd largest cryptocurrency, with a $3.95 on 26 January 2022. CoinGecko gave Orion a $132.847 million Market Cap, a 24-Hour Trading Volume of $14.801 million, a Fully Diluted Valuation of $387.874 million, and a Total Locked Value of $20.943 million on 26 January 2022.
I consider Orion Protocol an unstable cryptocurrency, because CoinGecko gives it an all-time high Coin Price of $29.25. However, it is obvious there is enormous interest in the Orion Protocol from speculators.
The Orion Protocol is an Unstable Cryptocurrency
If it works as advertised, the potential value of the Orion Protocol could be enormous because the crypto market is huge. For example, the weekly Total Market Capitalization of all cryptocurrencies was $2.209 trillion on 13 January 2022, Statista estimates.
However, the Orion Protocol’s decentralized finance (DeFi) solutions are unproven. Hence, I consider the Orion Protocol (ORN) a speculative cryptocurrency and a speculative play in DeFi. If you are seeking a DeFi cryptocurrency that could be capable of enormous growth, the Orion Protocol could be for you.
Originally published at https://marketmadhouse.com on January 26, 2022.
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