LUMIA - A transition to an exciting RWA rebrand ! LUMIA, previously called Orion Protocol is a coin that has existed since 2020 and has focused on providing decentralized liquidity and interoperability between different cryptocurrency networks like (Ethereum-chain, Fantom-chain, Binance-chain, etc.) while connecting directly to your decentralized wallet. Orion Terminal also served as a decentralized exchange where you could buy and sell different crypto-coins completely decntralized, similar to other AAM (**Automated market makers).
The rebrand from Orion Protocol to LUMIA signals a strategic shift and offers an opportunity for new investors to discover this project. LUMIA's new focus is on the tokenization of RWA (Real-World Assets)—an emerging and exciting narrative that has long been anticipated to gain traction in cryptocurrency markets. This shift is further validated by major players like Binance, who have shown strong support for LUMIA's transition and vision.
Recognizing that tokenization requires substantial liquidity, LUMIA aims to provide this crucial element to upcoming projects while maintaining its decentralized nature.
The transition to LUMIA occurred on October 18th, followed by a steady price decrease. However, the price has since stabilized around $1 after finding a local bottom at $0.91. Subsequently, a bullish flag pattern formed, breaking out to the upside.
Currently, the price is retesting the top of the downward parallel channel and the 0.786 Fibonacci retracement of the previous upward wave, which coincides with the M-pattern neckline. LUMIA's price needs to remain above $0.99 to potentially form a large W-pattern, as seen below. The 1.618 extension target for this W-pattern would be $1.4.
This could be a good time to look into the project.
Have a nice weekend !
ZEDDIT
