The crypto market is both famous and infamous for various things. It is famous for the variety of unique cryptocurrencies available at the drop of a hat. It is also famous for making millionaires overnight, even though that is more or less a rare occurrence at this point. And of course, it is infamous for its volatility. In a matter of hours, certain cryptocurrencies can go from prices in the triple digits to prices in the doubles. It can be nothing short of heartbreaking to watch sometimes.
However, this volatility has allowed various cryptocurrencies to gain by an incredible margin in a matter of a few short months. Cryptocurrencies like OMG would not be making the news if not for its incredible price hike.
Over the past month, it is no secret that the largest cryptocurrencies in the space have been losing a lot of money. Bitcoin has barely grown since this time last month, and ether has lost a surprising 15% of its price in that same time.
Even the third and fourth biggest cryptocurrencies in the market were seen losing 25% and 12% of their price respectively. And throughout all of this carnage and loss, very few cryptocurrencies stand out. In fact, the state of the market only makes OMG’s rise to fame all the more impressive.
Despite the odds of the market, OMG has managed to rise by an incredible 150% in the same time frame. This growth is reminiscent of the 2018 boom that put Crypto on the map for many people. It just goes to show that the crypto market will always keep its investors on their toes.
The current state of OMG is nothing short of incredible. While they managed to rise to $13 during the early months of the year when the market was at its peak,it managed to drop in price significantly. More specifically, it dropped down to $3 a few weeks later, which seemed to be where the crypto would flatlie for some time. However, in just a matter of a few months, OMG was able to reach a staggering $18, completely baffling most experts.
As it is operating on the Ethereum blockchain, prices can be high for relatively slower speeds. That is why they are teaming up with the boba and enya networks to improve the blockchain overall. All three companies will be working together to improve the prices of Ether, along with improving its transfer speed to better compete with the market.
These steps that it is taking will ensure its longevity in the market. And with a rise like that, the future for OMG looks very bright.