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Cryptocurrencies/Coins/OMG Network (OMG)
OMG Network price, market cap on Coin360 heatmap

OMG Network(OMG)

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$2.3717
(-2.54%)
0.00009541 BTC
Market Cap (Rank#127)
$332,621,159
13,380 BTC
Vol 24h
$9,914,595
398.835 BTC
Circulating Supply
140,245,398.25
Max Supply
140,245,399
275 days agocointelegraph
OMG price crashes by one third after BOBA airdrop snapshot
Users have been looking forward to this snapshot for a while but while they'll be getting BOBA tokens later in the month, the value of their OMG tokens crashed by one third today.
283 days agonulltx
OMG Network Price up 23% As Major Exchanges Show $BOBA Airdrop Support
OMG – the cryptocurrency that powers the OmiseGO Network price is up 23% today setting a new all time high of $19.53. Let’s see what the hype is all about and why people are buying $OMG What Is OmiseGo ($OMG)? The OmiseGo network is an Ethereum-based financial technology for use in mainstream digital wallets. OmiseGO […] The post OMG Network Price up 23% As Major Exchanges Show $BOBA Airdrop Support appeared first on NullTX.
307 days agocryptodaily
Crypto Weekly Roundup: Looming Altcoin Season To Save Solana From More Blood?
SOLANA ON A BRINK OF A DEEPER CORRECTION?Over the last seven days the Solana Network’s native token SOL (SOL/USD) has decreased in value by whooping 16.7% and it was worryingly one of the poorest weekly results out of all the top 100 cryptocurrencies during this period. According to coinmarketcap.com only Tezos (XTZ/USD), Avalanche (AVAX/USD), Cosmos (ATOM/USD) and OMG Network (OMG/USD) posted greater weekly losses (-19.9%, -20.3%, -18.1% and -17.3% respectively). While the Fear & Greed Index in crypto has been slowly switching from Neutral (54/100 at the beginning of last week) to Greed (71/100 as of today) indicating an improvement in the level of confidence in the market direction, the same cannot be said about mood within the Solana’s community. Scanning through comments in a few SOL-related facebook groups and on Twitter tells us that there has been lots of disappointment, regret and even anger and generally those online communities are not happy places right now, a complete 180 degree change from the way they were only like 5-6 weeks ago when the coin was on a tear and breaking its ATH every 3-4 days like a crypto champ.So what was the reason behind this mediocre performance in terms of price action lately? Were there any bad news, failures, hiccups or anything that could explain the situation where BTC (BTC/USD) was doing great and most alts were having a decent week, but not Solana? The only appropriate response to this has got to be: no, actually we did receive some amazing news and updates regarding the Solana Network this month alone: Paysafe added SOL to a list of crypto assets available to account holders. You can not buy into it on Paysafe’s two vastly popular payment platforms – Skrill & Neteller (more details here).- in a tweet from 1st Oct Solana team announced that the total value of NFTs stored on the blockchain hit a cool $1 Billion.- Sol. Network has been improving their interoperability with other blockchains, the latest addition being the SOL-ETH bridge. This opens up a host of possibilities to transfer value and projects from other ecosystems into Solana’s one.- Greyscale investment in Solana was just announced recently and that will inevitably become a long-term catalyst for the price to keep appreciating over time.- SOL remains the market leader in terms of percentage of all circulating supply staked (77%). This eventually should become the greatest factor for the supply/demand ratio. Long-term rocket fuel if you will.TECHNICAL ANALYSISWe can see above that fundamentally SOL (SOL/USD) remains an exceptionally strong crypto that’s constantly developing and invariably attracting an increasing amount of institutional interest. Let’s move on to the charts to find out whether we can get any positives on that front as well. Solana is currently trading at $142 having lost two of three all-important moving averages over the recent week. The only meaningful pattern worth drawing for the time being seems to be a symmetrical triangle (with multiple touches especially on the lower trendline of it – figure in thick orange), that SOL is attempting to break to the downside as I’m writing these words. By the time you read this piece, the decisive movement might already have materialized. Right now Solana is looking on the brink of losing support of the last moving average in my chart, the EMA 200. If we do end up getting a confirmation of that loss, a bigger retracement would be the most likely scenario in my humble opinion. If it turns out to be a fake-out and SOL bounces off the 200 EMA, the coin will still have to deal with the 100 MA and eventually the 50 MA - if we are to have another shot at breaking out of the triangle to the upside. A potential move like this from there should take Solana’s value all the way up to the $169-170 mark (thin red line). The volume of resistance is likely to decrease the higher the price climbs and ultimately once we break above the $192-194 area – the exciting price discovery phase with a new ATH extremely probable (current ATH at $216 since 9th Oct). Although, Solana has just had a bearish cross on MACD, not a good sign whatsoever. TA is looking pretty grim and that’s just the way things are in this moment.FINALETo sum it all up: SOL is still fundamentally a great project with outstanding technology and a top team behind it. Although the present sentiment for the blockchain seems to be all doom & gloom over the recent week, this is predominantly caused by ‘’sour grapes’’ on social media from people who have bought in the asset due to FOMO (fear of missing out) last month during Solana’s explosive growth of value and they have been the most vocal about their negative feelings but truth be told, they only have themselves to blame for investing when no investment should be made. Let this be a valuable lesson. Never FOMO IN. As for the coin itself – it persists in my mind as one of the best long term holds and I will be looking to finally get my hands on some if a deeper correction takes place. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
317 days agocointelegraph
OMG eyes a new all-time high after unveiling its 'Boba Network' layer-2 solution
Since hitting a bottom below $3 on July 20, OMG price has hiked 380% and now targets a new multi-year high.

About OMG Network

The live price of OMG Network (OMG) today is 2.3717 USD, and with the current circulating supply of OMG Network at 140,245,398.25 OMG, its market capitalization stands at 332,621,159 USD. In the last 24 hours OMG price has moved -0.077 USD or -0.03% while 9,417,882 USD worth of OMG has been traded on various exchanges. The current valuation of OMG puts it at #127 in cryptocurrency rankings based on market capitalization.

Learn more about the OMG Network blockchain network and how it works or follow the price of its native cryptocurrency OMG and the broader market with our unique COIN360 cryptocurrency heatmap.

OMG Network was founded in 2017 as OmiseGo, by Thai-born Vansa Chatikavanij, and later rebranded in 2020. OMG cryptocurrency is the native token of the Layer-2 scaling solution for the Ethereum blockchain which used a Plasma sidechain for facilitating cheaper and faster ERC20 and ETH transactions. OMG formed a strategic partnership with blockchain and AI infrastructure company Enya in February 2021, to jointly work on innovative Layer-2 solutions. 

Enya and OMG Network announced the mainnet launch of Boba Network, a new Ethereum Layer-2 scaling system in September 2021. Around the same time, OMG Network was also rebranded as OMG Foundation, powered by the Boba Network.

Boba Network is a Layer-2 Optimistic Rollup scaling solution that works as a child chain of Ethereum, thus inheriting and benefiting from the latter's security features. It significantly improves Ethereum’s transaction throughput, reduces gas fees and extends the capabilities of Ethereum smart contracts. Boba Network users benefit from its community-driven liquidity pools which reduce the usual 7-day exit period of Optimistic Rollups to just a few minutes. 

OMG price

While OMG price breached the $10 mark within 2 months after its launch in 2017, its all-time high came in early 2018, amid a crypto-wide bull run, when it made a rapid ascent to reach $28.35 on January 8 that year. OMG’s fully diluted valuation was close to $4 billion at that point. OMG price fluctuated between $10 and $20 in the 5 months that followed, before losing support at $10 in June 2018.

According to our OMG live price chart, OMG coin continued trading under $10 for close to 3 years, showing some signs of recovery in April 2021, when it broke out of $10 resistance after a long time. This happened a couple of months after the Enya collaboration and also because of an overall positive sentiment in the crypto market. A corrective phase followed soon after, however, and OMG price retraced to a little below $3 by late June 2021. 

OMG coin’s next big push came in the second crypto rally of 2021, in November, when OMG price surged past $20 on November 5. It has since lost considerable ground and was trading in the vicinity of $2.5 in Q2, 2022.

How OMG works

OMG Foundation is powered by Boba Network, an Optimistic Rollup Layer-2 scaling solution for the Ethereum blockchain. Optimistic Rollups like Boba Network are Ethereum’s child chains that move transaction computations off Ethereum, and then store the transaction data back on the Ethereum chain after processing.

To elaborate, smart contracts bundle up or roll up transaction details on Ethereum, and move them off-chain for processing. Thereafter, all this data is handled by the child chain’s participants, called validators or sequencers, who are assigned the task of returning multiple batches of highly compressed and processed transaction data back to the Ethereum chain. The submitted data allows for quick verification of the underlying transactions. 

Optimistic Rollups work on the assumption that all transactions moved off-chain are valid and submit them back without any pertinent verification. Instead, they rely on a 1 - 2 week-long challenge period during which any transaction's legitimacy can be challenged. As a result, withdrawals get significantly delayed. However, Boba Network tackles this drawback by using its community-driven liquidity pools which allow users to withdraw funds within minutes.

OMG, the native token of OMG Foundation, is built on Ethereum’s ERC-20 token standard. It is primarily used to pay transaction fees for using the network’s resources.

OMG news, updates and highlights

2020 proved to be quite an eventful year for OMG Foundation. The Thai-based firm Omise Holdings which owned the OmiseGo Layer-2 solution, rebranded itself as SYNQA in May 2020. It soon changed the name of OmiseGo to OMG Network as well. However, OMG Network was acquired by Genesis Block Ventures, a Hong-Kong based trading firm, in December 2020. 

In another important OMG news, in February 2021, Enya, the world’s largest provider of secure multiparty computation services announced a collaboration with OMG Network to develop the next generation of Layer-2 scaling solutions. Later in September 2021, OMG Network and Enya announced the mainnet launch of Boba Network, the next-gen Layer-2 Optimistic Rollup for the Ethereum blockchain. Soon OMG Network was renamed OMG Foundation with Boba Network becoming its main contributor.

Frequently asked questions about OMG

  • Can you mine or stake OMG tokens?

No, OMG tokens cannot be mined. Limited OMG staking options may be available on various exchanges.

  • Which are the best OMG wallets?

Being an ERC-20 token, OMG cryptocurrency can be stored in any Ethereum-compatible wallet, including MetaMask, Ledger Nano, Trust Wallet and Trezor.

  • What all can be done with OMG tokens?

You can use your OMG tokens to pay for token transfers and smart contract transactions conducted on its network. It can also be used to trade against other cryptocurrencies on exchange platforms.

  • What’s the best way of buying OMG?

The ideal way of buying OMG is through established crypto exchanges where you can buy it either with fiat, or obtain it through trading pairs like OMG/USDT, OMG/ETH, OMG/BTC etc.

OMG Network Price2.3717 USD
Market Rank#127
Market Cap332,621,159 USD
24h Volume9,914,595 USD
Circulating Supply140,245,398.25 OMG
Max Supply140,245,399 OMG
Yesterday's Market Cap326,920,500 USD
Yesterday's Open / Close2.4081 USD / 2.3311 USD
Yesterday's High / Low2.4511 USD / 2.3067 USD
Yesterday's Change
-0.03% ( 0.077 USD )
Yesterday's Volume9,417,882 USD
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