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The price for OmiseGO (OMG) doubles after being listed on the platform

May 23, 2020

“A direct curve to heaven”This is how some dealers defined the price milestone reached by OMG yesterday. the cryptocurrency of the OmiseGO project after its admission to the major Coinbase Pro exchange.

With a price increase of over 200%. since the announcement of the major US stock exchange On May 14, the increase in OMG from USD 0.75 to a peak price of USD 2.2 from the inclusion of OmiseGO (OMG) in its offer pairs until its final listing seven days later was a source of attention and comparison for many Cryptocurrency analysis company.

The price for OmiseGO (OMG) doubles after being listed on the platform
The price for OmiseGO (OMG) doubles after being listed on the platform

Over, ICO Analytics His official report reflects an infographic that shows the power that Coinbase has over the market of certain projects that have been approved for the offer on your platform.

After checking, OMG was the project that had the most positive impact on the price after the platform announced its final approval, which achieved a price increase of + 105% at the time of publishing this infographic.

This is followed by Tezos (XTZ) with just over half of what OMG has achieved, the KNC token from KibberSwap with + 30% and ATOM from Cosmos with a price increase of + 29%

The top 5 are closed by Algorand (ALGO) and Dash with + 23% and + 13%, respectively.

Both the announcement of the OMG list on May 14 and the entry of an effective offer within the platform on yesterday, May 21, 2020, had an average of +100 significant effects on the price of the OMG cryptocurrency% increase if both messages are known Achieving a cumulative total of up to + 212.47% in one week.

At the time of writing, the price of the asset was $ 1.88, up 25.73% in the past 24 hoursAccording to the CoinMarketCap price indicator, the current value is almost half of the maximum reached a year ago, but is far above the market price.

¿What can you expect from OMG?

On the 1H chart in Binance for the OMG / USD pair, the cryptocurrency is having trouble staying above the unit value. This is part of the main support and the focus of the collapse of the uptrend that OMG has printed since last March after the downtrend was broken.

While It is too early to decide whether OMG will continue the winning streak of the past five daysEverything seems to indicate that the bulls managed to control the GMO market after exceeding the moving average in mid-April 2020.

Short term, The Aroon indicator is optimisticwith a strong upward trend after its bearish signal is at the bottom of the chart and shows no signs of a trend reversal.

With OmiseGO’s recent earnings, the Altcoin price at $ 2,204 is facing immediate resistancewith a medium-term optimistic forecast for the upper limits of the three dollar units.

What the OMG development team and investors are doing with their earnings over the past few days will be critical to keeping the fuel that makes the asset the most profitable of the week.

In this sense, the analysis company is in relation to the so-called coinbase effect CryptoDiffer stated through his official Twitter account that To date, OmiseGO had maintained a positive HODL strategy of up to + 188.90%. according to the information derived from the buy and sell orders on the exchange before and after the asset is entered in the exchange’s offer lists.

Only access to the Coinbase de Tezos in July 2019 had a similar effect to OMG, with only + 73% CryptoDiffer.

Future projects to be listed on Coinbase?

The analysis company for its part Crypto generation In his official report, he published the best projects that should be listed on Coinbase, with the Asian giant NEO at the top, based on MarketCap metrics and trading volume over the past 24 hours.

Maker remains on the list, the project focused on decentralized finance and closed the FTT, Decred, Enjin, Waves, Zilliqa, Matic, Status, and Blockstack honoraries in the same order.

The ranking created by and replicated by G. Crypto is based on the top 10 projects by market capitalization that have the potential to be introduced based on the current Coinbase custody listings and their investments in Coinbase and Coinbase Pro with the financial arm Coinbase Ventures and the platform’s previous announcements about researching new digital assets to be offered on the world’s most popular stock exchange.

Not everything that glitters is gold

Despite the economic and political influence that Coinbase can have in the crypto space and particularly in North America, The platform has been criticized in recent weeks for the constant blocking of funds by its users for no apparent reason.

One of the first to draw attention to the need to extract its bitcoins outside of the popular exchange was the popular crypto influencer Rachel Siegel, their warning was released on May 10th in Forbes due to complaints on Twitter by multiple users of ‘Error 502’ that the platform threw when she tried to access her BTC.

However, The important platform announced in its official blog on May 14 that it was somewhat on time Because of the April 29 and May 9 interruptions that prevented them from being available to their customers worldwide.

Despite the company’s vindicated reasons, the popular cryptocurrency content trader and presenter has hinted that it’s not the first time there have been complaints about the platform blocking funds when there is a significant price movement on Bitcoin. .