OmiseGo (OMG) Price Prediction 2020-2025
Being established in 2013, OmiseGo project was designed to be a direct rival of the banking industry: it offers a simple and flawless way of making international transactions. The blockchain is highly valued for decentralization and high scalability, not mentioning a high level of trust thanks to the support of Ethereum creators, Vitalik Buterin and Gavin Wood. OMG tokens are often used for long-term storage and trading, and if you consider adding it to your crypto portfolio, you should read our OmiseGo price prediction.
Before you read short- and long-term OMG price prediction, let’s find out what this cryptocurrency was created for.
What is OmiseGo about?
|ROI since launch||177,07%|
|Launch date||July 14, 2017|
OmiseGo cryptocurrency provides users with the ability to exchange any asset, be it a fiat currency or a digital token, regardless of its type or even blockchain. In fact, we are talking about combining financial systems. This is done through the official Wallet SDK wallet, which makes it easy to create new wallets, integrate them with various payment systems, and even integrate them into online stores. Moreover, the platform provides for the provision of digital assets in traditional currencies.
The main technical features of OmiseGo boil down to the following:
- Decentralized exchange;
- Liquidity mechanism;
- Clearinghouse messaging network;
- Asset-secured payment gateway;
- Scalable and public blockchain;
- Proof-of-Stake (PoS) Consensus Mechanism;
- A high-performance system that uses all the features of a distributed blockchain structure;
- Settlement and clearing activities are carried out directly in the OmiseGO blockchain.
Easy asset conversion
Another important factor in the platform’s work is the decentralized exchange (DEX), which acts as a highly liquid market that takes into account the difference in rates between the underlying assets. That is, it is DEX that is responsible for the conversion of one currency into another.
OmiseGo platform opens up great opportunities for business. Say, you live in Hong Kong but work with the clients from Germany. In order to transfer money to your account, they first need to convert their currency into EUR and only then send the funds, or you will have to do it on the spot. One way or another, two commissions will have to be paid for it at once - for the transfer and for the conversion of one currency into another. OmiseGo will allow your partners to pay in the currency they use, and you can receive it immediately in EUR.
Mining on the platform is not possible. The OMG token is built on the Proof-Of-Stake algorithm. However, you can earn OMG cryptocurrency: for this, you need to keep it in your account. The more coins you own, the higher is the likelihood of creating a block for their holder (the minimum number is not set). Suppose if a person has 1% of all OMG tokens on his account, then on average, he will create about 1% of new blocks.
How does it work?
The OmiseGO ecosystem has two main products: blockchain and wallet. OmiseGO allows the decentralized exchange of currencies through a public blockchain with large volumes and low transaction costs. The company calls its platform “the next-generation service that will allow the transfer of value expressed in different currencies and types of assets.”
In fact, anyone can use the OmiseGO system (connected to the Ethereum core network) to conduct financial transactions. Possible financial transactions on the OmiseGO platform include payments, money transfers, payroll, mutual settlements between organizations, financing the supply chain and loyalty programs, asset management, trading, and other services.
The platform also facilitates the use of cryptocurrencies for millions of users, who can easily switch from fiat funds to decentralized currencies such as Ether (ETH / USD) or Bitcoin. The ultimate goal of OmiseGO is to create ideal conditions for competition among currency systems.
Advantages of OmiseGo
Several benefits of this cryptocurrency make up for a positive OmiseGo price prediction:
- There is no need to open a bank account for the exchange of cryptocurrencies since the system has an official license;
- High network scalability ensures instant transactions and low fees;
- High level of security;
- The ability to create and configure users’ own tokens (with personalized use and storage functions);
- The presence of an official wallet (personalization of the interface and the unique design is available).
What will drive the growth of OmiseGo?
What exactly might have a positive effect on OmiseGo price prediction? Here are some interesting facts and news:
- Omise bought one of the largest players in the paysbuy Thai money transfer market, which further expanded its customer base.
- McDonald's announced that they will partner with OmiseGo and will accept payments through their platform, which is at least 240 points of reception.
- OmiseGo's ICO ended before it started. The aim of the developers was to collect about 19 million dollars that they raised at the pre-ICO, i.e., small investors were unable to participate.
- The Swiss retail giant has begun accepting OMG cryptocurrency as a means of payment when purchasing goods on Digitec Galaxus.
Besides, the growth and positive OmiseGo forecast can be conditioned by:
- Many real-world uses. OmiseGo offers a great payment solution that can be applied for making peer-to-peer payments, topping up debit cards, providing financial services, and so much more.
- Partnership. The development of OmiseGo is moved forward by its partners that include Global Brain and Krungsri Finnovate, as well as a few other companies. It goes without mentioning a few popular advisors, such as Vitalik Buterin, Gavin Wood, and Joseph Poon.
- Staking. OMG holders can earn more tokens for validating transactions, which is possible thanks to the proof-of-stake model. That might increase the demand for the token among users seeking passive income.
Short-term OmiseGo price prediction
To find out what might happen to OMG cryptocurrency in the following days and weeks, we will observe a few forecasts published by TradingView users.
According to user Protixder, OMG is one of the best coins to hold in the long term. Why? His positive OmiseGo forecast is based on the fact that the project is supported by Ethereum creators.
The reasons for the popularity of this coin are the following:
- Not a medium-of-exchange token
- Clear valuation model (expected discounted future fees minus node operation cost)
- Requires running node to get returns, not passive income (so more legally defensible)
Besides, the user claims that the coin might even reach $5 and $100 price in the longer term.
User CryptoNTez analyzed OMG/BTC pair and concluded that recently, there has been breaking from long descending trend line followed the UCTS Buy signal on the 12H. Currently, OMG is keeping close to the ~8650 satoshi resistance level. We should see the interaction with this level and volume as a signal of continuation (R/S Flip will be nice). If that happens, OmiseGo price prediction is 9700 satoshi.
OmiseGo price prediction 2020
In order to find out how much OMG will cost by the end of 2020, we will check out the forecasts from analytical websites.
- TradingBeasts’ OmiseGo price prediction is quite positive: it should climb to $3.71 within a year, which means its growth potential is 2.5x in value.
- According to CryptoGround, OMG will reach $6.5 per token, which is an x4 growth. That’s too much considering that no massive crypto market growth is expected.
- Walletinvestor is the only website providing very pessimistic forecasts. It expects that OMG will drop in price from $1.57 to $0.27.
- Digitalcoinprice website is bullish: it claims that OmiseGo will cost $2.94 per coin by December 2020.
- Crypto-rating.com provides another pessimistic OMG price prediction: it will cost around $0.34-0.31 by the end of 2020.
Considering all of the above-mentioned forecasts, we can conclude that OMG coin might reach the price of $2-2.5 by the end of the year. A higher price level should be expected only if the overall crypto market experiences an uptrend and Bitcoin skyrockets.
Long-term OmiseGo price prediction
Many crypto experts claim that OmiseGo is a long-term player, and the profits from this cryptocurrency should be reaped in several years. Is that true? Let’s check out the information published on the above-mentioned websites:
- According to CapitanAltcoin, OMG price will hold about the same old level in 2021: it will be around $1.57. In 2023, it might grow to as much as $15-150 per token. If the token manages to survive, it will cost about $150 per token in 2025.
- Crypto-rating.com provides the following forecasts: OMG will cost $0.31 in 2021. In 2022 it would be around $0.34. By 2025, it will be around $0.45.
- TradingBeasts website claims that OMG will cost about $0.8-1.1 in 2021. In 2023, its price may climb to $1.48.
- Changenow.io website claims that OMG may multiply its price by 10-100 by 2023. If it continues existing, its cost may rise by x100 in 2025.
Taking into account the technological strength of OmiseGo and the support of advisors and partners, the cryptocurrency has all chances to rise and reach the new heights. However, it’s not likely to happen this year because the overall crypto market is in decline.