Blockchain technology can be used in almost all areas of human activity. In particular, decentralized finance successfully solves the problem of access to banking services in regions where classical banks are physically or financially inaccessible to a huge number of people. The OmiseGo project is focused on Asian countries.
What is Omise Go
The OmiseGo blockchain platform was launched by Omise, which is already one of the most well-known players in the financial services market in Asia. OmiseGo is functionally similar to the SWIFT system, but its services are accessible even to the poorest segments of the population.
Labor migrants often send money to their family members back home. But the complexity and cost of international transfers often turn financial assistance from abroad into an additional burden.
The OmiseGo blockchain offers a more convenient and cheaper alternative to banking services. The platform is based on the Ethereum blockchain. For money transfers and settlements within the network, a native token of the ERC-20 standard is used. OmiseGO (OMG).
OmiseGo plans to launch tools that can be used to create your own wallets adapted to work with cryptocurrencies and fiat currencies, primarily Asian currencies, the euro, the dollar and the most popular digital coins.
Benefits of OmiseGo
A custom wallet in the OMG Network system is a complete and more affordable alternative to a bank account. With it, the user gets access to any financial services: transfers, operations with different currencies, etc.
The OMG wallet provides the technical ability to transfer between different blockchains, as well as blockchain and traditional payment systems VISA and SWIFT.
OMG Network is not the only project in the region that aims to increase the availability of financial services for all segments of the population. However, among the competitive advantages, brand awareness plays a significant role. Omise has extensive experience in the online payment industry.
Recognition greatly facilitates the establishment of partnerships with large companies
Among the most famous partners of OMG Network are McDonald’s in Thailand, as well as two major Japanese banks SMBC and Ayudhya. The development of these relations and the further expansion of partnerships is one of the key factors determining the future fate of the project and the value of its assets.
OMG price history
The OMG price chart reflects a fairly typical price behavior of new ambitious coins. Shortly after the launch, at a price of $0.43 per token, OMG broke the dollar barrier and rose to $12.9 in September 2017.
In January 2018, the coin hit an all-time high of $25.23. After the rapid growth, a deep correction began, which eventually turned into a downtrend. Ultimately, the price was squeezed into a narrow range with an upper limit of about $2.50.
Since May 2020, the coin began to gradually rise in price and the general upward trend continues to this day. OMG Network coin price prediction sounded very optimistic. After a series of local highs throughout 2021, OMG was expected to close the year at or below $17.
However, the realities of the market turned out to be completely different. The year closed at a price slightly higher than $6 and the coin is still in a state of deep correction.
OMG Price Prediction
Analysts are extremely reserved in their assessments of OMG’s prospects for the coming years. Real events in the cryptocurrency market turned both optimistic and pessimistic forecasts upside down.
Now the situation is aggravated by the uncertainty of the further behavior of the market as a whole, the tone of which is set by Bitcoin.
Wallet Investor does not expect much breakthroughs, but predicts a gradual increase in the price of OMG to about $5.07 during the year. Technical analysis of the market so far gives grounds for restrained optimism. With the recovery of the overall uptrend, it is quite possible that OMG will trade above $5 per token in 2023.
Where to buy OMG
OMG is traded on most of the major cryptocurrency exchanges, including Binance, Huobi Global, Gate.io, Bitfinex, Kraken, and more. The coin trades against dollar stablecoins, Bitcoin, Ethereum and fiat currencies.
The easiest way to buy and sell OMG is on LetsExchange, where over 350 exchange directions for other digital coins are available.
Before investing in any coin, be sure to do your own research. Any analysis can be both right and wrong. So that the price of a mistake is not too high, do not invest more in cryptocurrency than you are ready to lose.
Marziano is a seasoned tech expert with over 15 years of experience in the industry. Holding a Bachelor’s degree in Computer Science and multiple certifications, including CompTIA A+, Network+, and Cisco’s CCNA, he has a well-rounded and robust understanding of various aspects of technology.