The DeFi space is growing as new projects and protocols come into place. The decentralized financial space gained prominence in early 2020, following the growth of cryptocurrencies like Bitcoin and Ethereum. Although the industry has been in existence before Bitcoin’s iconic surge, it failed to grab attention and interest like the king coin. Now, with many digital assets coming into the spotlight, many assets have found a way to craft a market for themselves.
One of the DeFi industry’s protocols, Orion has been one of the most outstanding performers in the industry since February. Since the last two months, the token has risen by over 700%, which has taken its current market cap to around half a billion dollars. The asset protocol has space for more growth, but what strikes the industry is the significant gains within a very short period.
Orion gains 700%
People want to know why Orion has gained so much within a short time. While some people believe that it’s the Fear Of Missing Out (FOMO) that ignited the growth, others believe that it is due to some factors. The DeFI industry has welcomed many new increases as there are frequent expansions within the space.
Since the industry’s popularity boomed in January, many new firms have created exchanges for these protocols. The rise has caused investors’ problems as they find it hard to keep track of all of them, making them miss one that would yield more profits.
The competition is high amongst the exchanges, which led to trading platforms offering more services to out-do their competitors. This has made centralized exchanges offer staking services for customers interested in that aspect. The CEXs are trading platforms where a third-party can access the user’s information and interfere in the user’s affairs.
This has brought the demand for liquidity aggregator, bringing all the centralized and decentralized exchanges into a single platform. This protocol has made things easier for consumers to access everything from one platform, trade, and even swap.
Orion Terminal promises to make things better
If the Orion Terminal has been set up, the platform support KuCoin and Binance trading without going through the hassles of providing personal information. Asides from the support, it also bridges the gap between Ethereum and the Binance network.
Although the terminal is yet to be officially available for usage, creators shared that early April would become available. Interestingly, this development might have affected the terminal’s token, ORN, which has surged by over 700%, and this would likely give investors attractive gains. The creators added some other benefits of trading with the terminal.
Orion explained that users don’t have to give up their private keys before trading and staking. The users can easily deposit their money into smart contracts, allowing them to trade across different trading platforms without wasting time creating another account. The project would likely be ready around the middle of this year, and its development has attracted attention from the digital asset space.