OmiseGo Price Update
At the time of this writing, OmiseGo has a price of $0.5144 USD, which puts it down by approximately 1.53% from yesterday. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in a unclear trend, and is currently 6.61% below its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. To help contextualize yesterday’s price move, we can observe that price has rallied 3 of the past 5 days. Another data point we may find worthy of observation is that price for OmiseGo has increased 3 of the previous 5 days.
Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for OmiseGo imply the currency may oscillate between $0.489499 and $0.612061, based on how price has behaved in the two weeks prior. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.
The market capitalization of OmiseGo, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $72 million.
Straight Off the Chain
Over the past 24 hours, NA transfers have been added to the blockchain recording transactions amongst holders of OmiseGo. In terms of estimating the number of holders, over the past day the total number of wallets holding OmiseGo has gone NA by approximately NA. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at NA, with NA wallets making a transfer this past day and NA wallets having made a transfer in the past month.
How are the Strong Holders of OmiseGo Faring?
And in regards to wealth distribution, note that the top 1,000 OmiseGo wallets hold over 78.6% of the token’s total money supply. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 12.31% of the currency’s total money supply. Exchange ownership grew by 0.3% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.02% over that time period.
Article by SixJupiter
