Crypto mover: OGN token jumps 82% after meme NFT sale

Cryptocurrency token Origin (OGN) was marked as a top mover on Wednesday as it traded up 82% to US$1.30. OGN is an Ethereum-based token that is used to power a platform that runs decentralised peer-to-peer marketplaces for NFTs, aka non-fungible tokens. Wednesday’s move comes as Origin’s platform hosted a ‘record-breaking’ sale for a meme-as-NFT for “Charlie bit me” (a 56 sec 2007 viral video in which Harry Davies-Carr, aged three at the time, has his finger bitten by one year old brother Charlie Davies-Carr). The video was this week auctioned off as an NFT for US$790,000 with the buyer, an anonymous account with the name "3fmusic", taking ownership of the rights to the digital asset. The Davies-Carr family subsequently removed the public youtube video clip that had been viewed some 880mln times since May 2007. It is the latest example of a high-profile and high value NFT sale, and, the transaction was powered by the Origin platform and the OGN token. For anyone keeping score, @OriginProtocol $OGN has now set records for both the largest music NFT drop and the largest viral video/meme drop. What should we tackle next? — Josh Fraser (@joshfraser) May 26, 2021 After Wednesday’s rise in crypto markets, the OGN token has a market cap of just over US$400mln, with a circulating supply of 311.8mln tokens. It is presently ranked as the fifty-fifth most popular asset on the Coinbase exchange. According to Coinbase, trading activity is skewed 68% to buyers (based on customers changing their net positions over the past 24 hours, as at 1:40pm).