May 8, 2020: OmiseGo (OMG): Up 4.04%; 2nd Consecutive Up Day


How Did OmiseGo’s Price Fare Yesterday?

OmiseGo’s current price, at the time of this writing, is $0.7419 USD, up by approximately 4.04% from the day prior. OmiseGo is currently in an up, and it should be noted that this is now the the 2nd consecutive day that price has been up. Moreover, OmiseGo is now 10.7% above its 20 day moving average. From another vantage point, note that price has gone up 16 of the past 30 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 74.34% less than its 7 day average volume.

In terms of an expected trading range, the Bollinger bands on OmiseGo suggest price may bounce between $0.586234 and $0.754196 based on its momentum and volatility over the past 14 days. As we are closer to the top of that range, rangebound traders may wish to consider exploring shorting opportunities.

The currency’s market cap currently stands at $104 million 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. Regarding a tally of holders, Yesterday saw OmiseGo’s wallet count NA by 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 78.51% 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 12.03% of the currency’s money supply. Exchange ownership grew by 0.2% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.01% over that time period.

Article by SixJupiter

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