- Price $4.14
- Market Cap
Omise was founded back in 2013, and is a venture-backed payment services company that operates in the south-east Asia region, in countries like Thailand, Singapore and Indonesia. It was this company that crated OmiseGo, although this extension platform is actually operated by its token holders and users, not by its creator. Currently, the tokens have a total supply of 140,245,398, at the moment there is 102,042,552 in circulating and in operation.
The payment platform is also a decentralised exchange, which has been issued on the Etherum blockchain. Its slogan is ‘Unbank the banked’, and it has stated that its objective is to provide better financial services for everyone, including those of are in developing countries, therefore do not have access to traditional banking infrastructure. Its token is also known as OMG, and was the first Ethereum project that managed to exceed its valuation of $1 billion, currently, it is stull the 6th highest market cup Ethereum project across the globe.
OmiseGo’s initial coin offering took place in 2017, and succeeded in raising the healthy sum of over $25 million.
In the beginning
The coin hit the market with quite a bang in July 2017, with a value of just over half a dollar, although it then only took a few days to break the dollar mark with a value of $1.53. It remained consistent for the following few weeks, until it hit $2.76 on August 4th. The very next day its price had increased dramatically, and it was worth $3.61.
A sharp rise in value
Over the following few days, it seemed like there was simply no stopping OmiseGO, as my the 11th August it had reached the price of $7.23, then just 5 days later it was worth $8.87. This dramatic rising and stopping seemed random, and if you took a look at the cryptocurrency charts, it seemed like there was no pattern to it.
By the end of the month the value of the coin had finally reached double digits, and in 30th August the charts showed that it was worth $11.07. It was at this point that its value started to drop again, and hovered around 8-10 dollars until the middle of October. By the end of October it has hit a new low of $6.84, shooting back up to £10.51 in December, then on December 18th it hit $18.50.
OmiseGO brought in the year of 2018 at a value of $20.30, a huge increase of its opening rate just 6 months previously. Although all cryptocurrencies have fluctuations in their value, it seemed like OMG’s was quite obvious, falling to $9.27 at the start of February, but then back up to $20 by the end.
On April 12 of 2018, the price dramatically dropped down to $7.52. This demise was due to a number of different reasons, but primarily the cryptocurrency market as a whole was experiencing a slump at that point. Therefore, the majority of cryptocurrencies were affected negatively.
Reasons for its current success
By mid-April, it was at around the $9 mark, but it is steadily on the climb upwards to some much greater values. Two events are behind the coins current success, firstly, the Omise Go team have manage to secure deals with some to South Korea’s top banks, such as Shinhan and Woori, marking a breakthrough in the cryptocurrency industry. Additionally, on the 17 April, the CEO of the company also announced that they are working on projects that are in association with eh Asia Pacific Economic Committee, and we working together to create blockchain based payment and financial services. Working with such a large and respected company can only have a positive impact on the value of OmiseGo.
Since this time, the value of OmiseGo has steadily been on the rise, going from the value of $13.96 to $15.69 in just 4 days, and analysts agree that this upwards trend will continue well into the second quarter of 2018, and maybe even beyond.