May 10, 2020: OmiseGo (OMG): Down 7.57%; Price Crosses 20 Day Average; 2nd Straight Down Day


How Did OmiseGo’s Price Fare Yesterday?

OmiseGo’s current price, at the time of this writing, is $0.6863 USD, down by approximately 7.57% from the day prior. OmiseGo is currently in a unclear , and it should be noted that this is now the the 2nd consecutive day that price has been down. Moreover, OmiseGo is now 0.02% below its 20 day moving average. Another data point we may find worthy of observation is that price for OmiseGo has increased 2 of the previous 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 35.88% less than its 7 day average volume.

In terms of an expected trading range, the Bollinger bands on OmiseGo suggest price may bounce between $0.616463 and $0.756367 based on its momentum and volatility over the past 14 days. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

As for OmiseGo’s market cap, it is currently at about $97M US dollars.

Daily Engagement Metrics Update

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 understand loyalty or repeat usage amongst holders of OmiseGo, we can note that there were NA wallets making a transaction yesterday, while NA wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about NA.

How are the Strong Holders of OmiseGo Faring?

And in regards to wealth distribution, note that the top 1,000 OmiseGo wallets hold over 78.5% of the token’s total money supply. The percent of the currency that is owned by wallets that are both belonging to exchanges and in the top 1,000 richest wallets of the token comes out to 12.05% of the currency’s money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.02% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.19%.

Article by SixJupiter

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