Price Action
In the week prior, the price for OmiseGo went up by 1.8%. It is above its 20 day moving average by 6.86%, so it’s somewhat away. OmiseGo’s bullish momentum, determined by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. In terms of volatility, OmiseGo exhibits greater price volatility than approximately 47% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. If volatility over the past three weeks is any indication of what’s to come, we can expect OmiseGo to bounce between 1.822677 and $2.407323 US dollars per coin.
Where to trade Omisego (symbol: OMG): Gate, Yobit, Stex, Binance, DDEX, Ethfinex
Volume Update
In the span of the preceding 7 days, OmiseGO’s daily volume, in terms of its own unit of currency, has fluctuated between 233,012.2 and 3,319,864. In the three weeks prior, volume has trended downwards, but price has gone in the opposite direction — up. OmiseGO experienced a turnover rate of about 0.96% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 30.53% of the coins we’re tracking, so it’s below average, and so there may be some risk that traders/investors have difficulty in getting in and out of positions.
Engagement Update
The number of wallets holding OmiseGo went from 652,962 to 651,413 in the past week, marking a change of -0.24%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 2,278,036 to 2,291,441, which translates to growth of 0.59% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of OmiseGo is thus at 0.35% which, relatively speaking, is ahead of 22.22% of the cryptocurrencies we’re tracking. This growth rate suggests its change in engagement is below average, at least on a percentage basis.
Technology Development Status
OmiseGO currently has 30 public repositories on GitHub, with the oldest one now 4.75 years young. Its last public update to any of its repositories was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. OmiseGO’s public repos now have 669 which is pretty good, relatively speaking; specifically, that’s more than 64 % of the top 100 coins we’re looking at. The coin has 64 total outstanding issues across all 30 of its public repositories on GitHub. Its number of watchers, when viewed against its open issues count, is fairly mediocre. We consider the GitHub open issue/watcher ratio as a potential indicator of the healthiness of a coin’s software development process, and for OmiseGO we see that its issue/watcher ratio looks healthier than 56% of similar coins in our index.
OmiseGO News and Commentary
Over the past week, we found one link about OmiseGO that we thought was particularly interesting. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.
How is OmiseGOing? – Kasima Tharnpipitchai
Snippet:
At OmiseGO, I’ve been focused on shipping More Viable Plasma (Plasma MVP), Plasma Dog, the Ari public alpha and currently preparing for our network upgrade — Samrong….Along with the Product team’s help, we launched the OmiseGO Developer Program (ODP) and the Ari private alpha….I’ve been looking after research and engineering of plasma and the OMG Network for the past year.
Where to Buy
You can trade Omisego, listed under the symbol OMG, through the following exchanges: Gate, Yobit, Stex, Binance, DDEX, Ethfinex.
Article by SixJupiter
