OmiseGo (OMG) July 8, 2019 Weekly Recap: Price Down 1.85%

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Price Action

Over the past week, OmiseGo saw its price go down by -1.85%. It is below its 20 day moving average by 0.4%, which is quite close. 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. Now when considering volatility, OmiseGo is more prone to sizable price moves than 55% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for OmiseGo in US dollars is expected to be between $2.010839 and $2.784461.

Where to trade Omisego (symbol: OMG): Gate, Yobit, Stex, Binance, DDEX, Ethfinex

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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 159,131.5 and 2,762,759. Looking back over past 21 days, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. Over the past week, OmiseGO saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 0.82%. Its trading turnover percentage is higher than about 32.35% 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 652,072 to 652,841 in the past week, marking a change of 0.12%. As for overall transactions, they increased from 2,330,647 to 2,344,088 — an increase of 0.58%. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of OmiseGo is thus at 0.70% which, relatively speaking, is ahead of 26.47% of the cryptocurrencies we’re tracking. One interpretation of this may be that its change in engagement is below average, at least on a percentage basis.

Technology Development Status

OmiseGO currently has 30 public repos on GitHub, with the oldest one clocking in at 4.84 years young. Its most recent public update 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 63 % of the top 100 coins we’re looking at. The coin has 60 outstanding issues in the backlog awaiting to be addressed by the core development team. In comparison to the number of watchers it has, though, 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 52% of similar coins in our index.

OmiseGO News and Commentary

We found one link over the past week about OmiseGO that we thought was especially worth sharing. Where available, we included a snippet of the article that we thought might be interesting.

OmiseGo — Crypto News – Cryptonomad.info

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

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