The OMG Network scored a partnership that will prove its utility to deliver faster and cheaper transactions than Ethereum.

Key Takeaways

  • The OMG Network has seen its token price double over the past few months as the utility of its network expands.
  • Now, Bitfinex announced that it has integrated Tether into this protocol to deliver faster and cheaper transactions.
  • Following the announcement, OMG rose over 20% and it could be poised for further gains.

Share this article

A wave of new developments has hit the OmiseGo (OMG ) Network, propelling its price to new yearly highs.

OmiseGo’s Utility Expands

The OMG Network, also known as OmiseGo, stole the spotlight in the cryptocurrency industry after its price skyrocketed, outperforming the rest of the market. Ever since Coinbase Pro announced that it would be adding support for this ERC-20 token, it entered a bull rally that saw the token rise over 200%.

OMG went from trading at a low of $0.76 to a new yearly high of $2.27 in a matter of seven days.

Although the sudden upswing appears to have reached an exhaustion point, the utility of this token is fast expanding, igniting a further upward advance.

The team behind it rolled out a Layer-2 scaling solution for Ethereum called Plasma that reduces costs by 66% and increases the processing capacity of the network. Hong Kong-based cryptocurrency exchange Bitfinex was one of the first firms to announce that it will take advantage of this product to deliver faster and cheaper Tether (USDt) transactions.

“By migrating USDt value transfers to the OMG Network we save costs, drive performance improvements and relieve pressure on the root chain network. This is good for Bitfinex and our customers, and the whole Ethereum ecosystem,” said Paolo Ardoino, CTO at Bitfinex.

Along the same lines, Vansa Chatikavanij, CEO at OMG Network, affirmed that the partnership will help alleviate some of the fundamental issues on Ethereum, which is vulnerable to severe network congestion.

OKCoin - Build BTC

Chatikavanij said the OMG Network supports thousands of transactions per second at a third of the cost than on Ethereum.

“This will allow traders to react faster to trading opportunities and take advantage of arbitrage more efficiently between exchanges as the network grows,” added Ardoino.

Social Engagement Metrics Explode

Following the announcement, data from crypto insights provider LunarCRUSH show that OMG saw a significant spike in its social engagement metrics. The firm reported that over the last few hours more than 650,000 interactions about this ERC-20 token were registered.

Roughly 74% of all comments, replies, retweets, quotes, shares, and other metrics across all social network platforms have been bullish about the OMG Network, according to LunarCRUSH.

OMG Networks's Social Engagement by LunarCRUSH
OMG Networks’s Social Engagement by LunarCRUSH

Alongside the spike in social activity, OMG’s price surged nearly 23%. And the Fibonacci retracement indicator reveals that if the buying pressure behind this cryptocurrency continues, it may continue its advance.

Earn smarter with Cred
Earn smarter with Cred

The most significant resistance level at the moment is the 23.6% Fib level that sits at $1.80. Turning this supply barrier into support may help the OMG Network retest the recent high of $2.27.

But if demand is significant enough, OMG could be poised to reach a new yearly high of $2.8.

The OMG Network US dollar price chart
OMG/USD on TradingView

On the flip side, investors should pay close attention to the 38.2% Fib level because a bearish impulse that breaks this support would jeopardize the optimistic outlook.

If this were to happen, the next significant levels of support are represented by the 50% and 61.8% Fib levels. These supply walls sit at $1.3 and $1.1, respectively.

As the OMG Network continues leading the headlines in the cryptocurrency market, crypto enthusiasts must remain cautious of getting caught on the wrong side of the trend. The high volatility around this altcoin could flush out weak hands before continuing its uptrend.

Share this article


  1. An impressive share! I have just forwarded this onto a coworker
    who has been conductihg a little homework on this. And hee in fact ordered me
    lunch due to the fact that I found it for him…
    lol. So let me reword this…. Thank YOU for the meal!! But yeah, thanx for spending time to
    discuss this subject herde on your web site.
    กราฟแท่งเทียน webpage ถอนเงิน neteller

  2. Remarkable! Its really remarkable piece of writing, I have
    got much clear idea on the topic of from this

  3. It’s truly very difficult in this active life to
    listen news on TV, thus I just use web for that reason, and take the newest information.

  4. Hi! I just wanted to ask if you ever have any problems with hackers?
    My last blog (wordpress) was hacked and I ended up losing months of hard work due to no data backup.
    Do you have any methods to prevent hackers?

  5. When some one searches for his necessary thing, therefore he/she desires
    to be available that in detail, so that thing is maintained over here.

  6. I’m now not sure where you’re getting your information, however
    great topic. I must spend a while studying more or working out more.
    Thank you for fantastic info I used to be looking
    for this information for my mission.

  7. Good information. Lucky me I recently found your blog by accident (stumbleupon).
    I have book-marked it for later!

  8. It is the best time to make some plans for the longer
    term and it’s time to be happy. I’ve learn this post and if I may just I desire to suggest you few attention-grabbing issues or
    suggestions. Perhaps you can write subsequent articles relating to
    this article. I desire to learn more things approximately it!

  9. Hello There. I found your blog using msn. This is a really well written article.

    I will be sure to bookmark it and come back to read more of your
    useful info. Thanks for the post. I will definitely comeback.

  10. If you would like to increase your knowledge just keep visiting this
    web site and be updated with the most recent news update posted

  11. I know this if off topic but I’m looking into starting my own weblog and was
    wondering what all is required to get setup? I’m assuming having a blog like
    yours would cost a pretty penny? I’m not very internet savvy so I’m
    not 100% positive. Any recommendations or advice would be greatly appreciated.

  12. Good day! Would you mind if I share your blog with my facebook group?
    There’s a lot of folks that I think would
    really appreciate your content. Please let me know. Thanks

  13. I’m really impressed with your writing skills as well
    as with the layout on your weblog. Is this a paid theme or did you modify
    it yourself? Anyway keep up the nice quality writing, it’s
    rare to see a nice blog like this one these days.

  14. I am sure this post has touched all the internet viewers, its
    really really pleasant article on building up new weblog.

  15. I don’t even know how I ended up here, but I thought
    this post was good. I don’t know who you are but certainly
    you’re going to a famous blogger if you aren’t already 😉 Cheers!

  16. Very good post! We are linking to this particularly great post on our website.
    Keep up the great writing.

  17. What’s up, every time i used to check weblog
    posts here in the early hours in the morning, since i love to gain knowledge
    of more and more.

  18. It’s in fact very difficult in this busy life to listen news on TV,
    thus I simply use web for that reason, and obtain the
    latest information.

  19. It’s an amazing paragraph in favor of all the web people; they will get advantage from it I am sure.

  20. Somebody essentially lend a hand to make severely posts I’d
    state. This is the very first time I frequented your web page
    and thus far? I surprised with the research you made to make this particular submit incredible.
    Excellent process!

  21. Pretty! This was an extremely wonderful article. Many thanks for providing
    this information.

  22. If you are going for most excellent contents like
    I do, simply pay a quick visit this site every day as it presents quality contents, thanks

  23. Thank you for sharing your info. I really appreciate your efforts and I am waiting for your next write ups thanks once again.

  24. obviously like your web site however you have to check the spelling on several
    of your posts. A number of them are rife with spelling
    issues and I find it very bothersome to inform the truth however I will
    certainly come again again.

  25. What’s up colleagues, how is the whole thing, and what you wish for
    to say about this post, in my view its actually remarkable in favor of me.

  26. Asking questions are genuinely nice thing if you are not understanding something entirely, however this paragraph gives good understanding even.

  27. Attractive section of content. I just stumbled
    upon your website and in accession capital to assert that
    I get in fact enjoyed account your blog posts.
    Anyway I’ll be subscribing to your augment and
    even I achievement you access consistently quickly.

  28. Hello There. I found your blog using msn. This is
    a really well written article. I will make sure
    to bookmark it and come back to read more of your useful information. Thanks for the post.
    I’ll definitely return.

  29. Wow that was odd. I just wrote an extremely long comment but after I clicked submit my
    comment didn’t appear. Grrrr… well I’m not writing all that over
    again. Anyway, just wanted to say excellent blog!

  30. Hi, I would like to subscribe for this blog to take most recent updates, so where can i do it please help.

  31. It’s the best time to make a few plans for the future and it is time to be happy.
    I have read this publish and if I could I desire to counsel you some attention-grabbing issues or suggestions.
    Maybe you could write next articles referring to this article.
    I want to read more issues approximately it!

  32. Attractive component of content. I simply stumbled upon your blog
    and in accession capital to claim that I get actually loved account your blog posts.
    Anyway I will be subscribing in your feeds or even I success you get
    entry to persistently fast.

  33. You are so interesting! I do not think I’ve truly read anything like this before.

    So good to discover another person with some unique thoughts on this subject
    matter. Really.. thanks for starting this up. This
    site is something that is needed on the internet, someone with a
    bit of originality!

  34. Wow! In the end I got a weblog from where I know how to genuinely take valuable data regarding my study and

  35. My brother suggested I would possibly like this blog.
    He was entirely right. This post truly made my day. You cann’t imagine just how much
    time I had spent for this info! Thank you!

  36. Heya! I know this is sort of off-topic but I had to ask.
    Does running a well-established website such as yours require a large amount of work?
    I am brand new to blogging but I do write in my journal every day.
    I’d like to start a blog so I will be able to share my own experience and views online.
    Please let me know if you have any kind of recommendations or
    tips for new aspiring blog owners. Appreciate it!

  37. I constantly spent my half an hour to read this webpage’s articles all the time
    along with a mug of coffee.

  38. Hi, yup this post is actually pleasant and I have learned lot
    of things from it regarding blogging. thanks.

  39. Thanks designed for sharing such a nice thought, post is pleasant, thats why
    i have read it fully

  40. I am really impressed with your writing skills and also with the layout on your blog.
    Is this a paid theme or did you customize it
    yourself? Anyway keep up the nice quality writing,
    it’s rare to see a nice blog like this one nowadays.

  41. I’m no longer positive the place you’re getting your info, but good topic. I must spend some time studying more or figuring out more. Thank you for wonderful information I used to be looking for this info for my mission.|

  42. Great goods from you, man. I have take into accout your stuff previous to and you are
    simply extremely wonderful. I really like what you’ve received
    here, certainly like what you are stating and the way in which by which you are saying it.
    You are making it enjoyable and you still care for to keep it
    wise. I can not wait to read much more from you. That is really a
    tremendous web site.

  43. I have read so many articles or reviews on the topic of the blogger lovers however this post is genuinely a pleasant paragraph, keep it up.|

  44. Every weekend i used to pay a quick visit this
    site, for the reason that i wish for enjoyment,
    since this this web page conations actually pleasant funny data too.

  45. Because the admin of this website is working, no doubt very shortly
    it will be well-known, due to its feature contents.

  46. Good post. I learn something new and challenging on blogs I stumbleupon every day.

    It’s always helpful to read through articles from other authors and practice something
    from other web sites.

  47. If you are going for most excellent contents like I do, only go to see this site daily for the reason that it provides quality contents, thanks|

  48. I’m not sure why but this site is loading incredibly slow for me. Is anyone else having this problem or is it a problem on my end? I’ll check back later on and see if the problem still exists.|

  49. An outstanding share! I’ve just forwarded this onto a friend who has been doing
    a little research on this. And he in fact ordered
    me lunch due to the fact that I discovered it for him…
    lol. So let me reword this…. Thank YOU for the
    meal!! But yeah, thanks for spending some time to discuss this topic here on your website.

  50. My brother suggested I may like this blog. He used to be entirely right.
    This put up truly made my day. You cann’t believe
    simply how much time I had spent for this info! Thanks!

  51. I love what you guys are usually up too. This sort of clever work and reporting!
    Keep up the awesome works guys I’ve added you guys to blogroll.

  52. I’m really enjoying the design and layout of your site.
    It’s a very easy on the eyes which makes it much more
    pleasant for me to come here and visit more often. Did you hire out a developer to create your theme?
    Outstanding work!

  53. I’ve been browsing on-line greater than 3 hours lately,
    but I by no means discovered any attention-grabbing article like yours.
    It’s beautiful worth enough for me. In my view, if all site owners and bloggers made just right content as you probably did, the internet will
    be a lot more helpful than ever before.

  54. you’re really a good webmaster. The web site loading speed
    is incredible. It seems that you’re doing any distinctive
    trick. In addition, The contents are masterpiece. you’ve done a great task on this subject!

  55. I’m not that much of a online reader to be honest but your blogs really
    nice, keep it up! I’ll go ahead and bookmark your website to come back later.

  56. If some one wishes expert view concerning running a blog then i suggest him/her
    to pay a visit this webpage, Keep up the pleasant job.

  57. This is a topic which is close to my heart… Many thanks!
    Where are your contact details though?

  58. Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point.
    You definitely know what youre talking about, why throw away your intelligence on just
    posting videos to your weblog when you could be giving us something informative to read?

  59. Hey There. I discovered your blog the usage of msn. That is an extremely smartly written article.
    I will make sure to bookmark it and return to learn extra of your helpful information. Thank you for the post.
    I’ll certainly return.

  60. I know this web page presents quality dependent posts and extra material, is there
    any other web page which offers these stuff in quality?

  61. It’s difficult to find well-informed people about
    this topic, but you sound like you know what you’re talking
    about! Thanks

  62. I wanted to thank you for this wonderful read!!
    I certainly enjoyed every bit of it. I have you book marked to check out new things you

  63. I’ve been surfing online more than 2 hours today, yet I never found any
    interesting article like yours. It is pretty worth enough for me.
    In my opinion, if all web owners and bloggers made good content as you did,
    the internet will be much more useful than ever before.

  64. I really like what you guys are up too. Such clever work and coverage!
    Keep up the great works guys I’ve included you guys to our blogroll.

  65. Its not my first time to go to see this web site, i am browsing this site dailly and obtain fastidious information from here all the time.

  66. I know this website offers quality dependent posts and additional information,
    is there any other web page which presents these kinds of data in quality?

  67. What’s up, everything is going well here and ofcourse every one is sharing facts, that’s truly fine, keep up writing.

  68. I know this web site offers quality dependent posts and other material, is there any other site which offers these information in quality?|

  69. Hey very nice site!! Guy .. Beautiful .. Superb .. I’ll bookmark your site and take the feeds also? I am glad to search out numerous useful info here in the put up, we want work out extra techniques in this regard, thank you for sharing. . . . . .|

  70. Hello there, I believe your site could possibly be having web browser compatibility issues. When I look at your site in Safari, it looks fine however, if opening in I.E., it’s got some overlapping issues. I merely wanted to give you a quick heads up! Aside from that, wonderful website!|

  71. I absolutely love your website.. Very nice colors & theme. Did you make this web site yourself? Please reply back as I’m wanting to create my own personal website and would like to know where you got this from or just what the theme is called. Thanks!|

  72. It’s wonderful that you are getting thoughts from this article as well as from our dialogue made at this time.|

  73. Pretty great post. I just stumbled upon your weblog and wanted to say that I’ve truly enjoyed browsing your blog posts. In any case I will be subscribing in your rss feed and I am hoping you write once more soon!|

  74. Oh my goodness! Impressive article dude! Thank you so much, However I am encountering issues with your RSS. I don’t know the reason why I am unable to join it. Is there anybody else having identical RSS problems? Anyone that knows the solution can you kindly respond? Thanx!!|

  75. Hi would you mind letting me know which webhost you’re working with? I’ve loaded your blog in 3 completely different web browsers and I must say this blog loads a lot faster then most. Can you suggest a good hosting provider at a reasonable price? Kudos, I appreciate it!|

  76. Howdy! I could have sworn I’ve been to this website before but after browsing through some of the post I realized it’s new to me. Nonetheless, I’m definitely happy I found it and I’ll be book-marking and checking back frequently!|

  77. Awesome site you have here but I was curious if you knew of any community forums that cover the same topics talked about in this article? I’d really like to be a part of online community where I can get advice from other knowledgeable people that share the same interest. If you have any suggestions, please let me know. Thank you!|

  78. What’s Happening i am new to this, I stumbled upon this I have found It positively useful and it has aided me out loads. I am hoping to contribute & help different users like its aided me. Good job.|

  79. It’s fantastic that you are getting ideas from this piece of writing as well as from our argument made at this place.|

  80. At this time I am going away to do my breakfast, once having my breakfast coming again to read further news.|

  81. It’s hard to find educated people about this subject, however, you seem like you know what you’re talking about! Thanks|

  82. I’m impressed, I must say. Seldom do I come across a blog that’s equally educative and engaging, and let me tell you, you’ve hit the nail on the head. The issue is something too few people are speaking intelligently about. Now i’m very happy that I came across this in my search for something concerning this.|

  83. Its like you read my mind! You seem to know a lot about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a bit, but other than that, this is wonderful blog. A fantastic read. I’ll definitely be back.|

  84. Thanks for a marvelous posting! I really enjoyed reading it, you might be a great author. I will ensure that I bookmark your blog and will eventually come back in the foreseeable future. I want to encourage one to continue your great job, have a nice afternoon!|

  85. Hmm it appears like your blog ate my first comment (it was extremely long) so I guess I’ll just sum it up what I wrote and say, I’m thoroughly enjoying your blog. I as well am an aspiring blog blogger but I’m still new to the whole thing. Do you have any suggestions for inexperienced blog writers? I’d definitely appreciate it.|

  86. Way cool! Some extremely valid points! I appreciate you writing this post and the rest of the site is extremely good.|

  87. These are genuinely impressive ideas in regarding blogging. You have touched some nice points here. Any way keep up wrinting.|

  88. What’s up colleagues, its impressive piece of writing about educationand fully defined, keep it up all the time.|

  89. If you desire to get much from this paragraph then you have to apply such methods to your won website.|

  90. Hi there! Do you know if they make any plugins to help with SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good success. If you know of any please share. Thank you!|


Please enter your comment!
Please enter your name here