Price Action
In the week prior, the price for OmiseGo went up by 5.01%. It is above its 20 day moving average by 1.59%, so it’s fairly close. OmiseGo’s bullish momentum, based on 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 43% 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 $1.854375 and $2.354825.
Where to trade Omisego (symbol: OMG): Gate, Yobit, Stex, Binance, DDEX, Ethfinex
Volume Update
Over the past week, OmiseGO saw its daily volume range between 92,602.09 and 1,111,726 units of its own currency. Looking back over past 21 days, both price and volume have been declining. The past 7 days saw OmiseGO’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.46%. Its turnover rate is more than approximately 20.41% of the cryptocurrencies in our index, 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
OmiseGo saw the number of wallets holding its coin go from 651,618 to 652,004 over the past week — a change of 0.06%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 2,298,546 to 2,306,546, which translates to growth of 0.35% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of OmiseGo is thus at 0.41% which, relatively speaking, is ahead of 17.65% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin’s usage is not growing much at all.
Technology Development Status
OmiseGO currently has 30 public repos on GitHub, with the oldest one clocking in at 4.79 years young. The last recorded update to its public 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 repos that are visible to the public collectively have 665 watchers — specifically, that’s more than 67 % of the top 100 coins we’re looking at. The coin has 59 issues reported across its public repositories. 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
Over the past week, we found one link about OmiseGO that we thought was particularly interesting. Where available, we included a snippet of the article that we thought might be interesting.
OmiseGO and SURGE BKK 2019 – OmiseGO
Key Extract:
OmiseGO is an impact driven and technology first company that builds on blockchain to enable access to financial services that are fast, fair and secure….The hackathon was opened by UNICEF representative, Thomas Davin, who introduced the SURGE BKK theme – building solutions for financial inclusion.
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
