A lot of things are happening across the cryptocurrency markets as of right now. Even though most of the top cryptocurrencies are suffering from small losses in the past few hours, others are bucking the trend successfully. One of the currencies a lot of people are interested in is OmiseGO. More specifically, the OmiseGO price is surging as of right now, as it has surpassed the $20 mark once again.
OmiseGO Price Surges Ahead Nicely
Similar to most other cryptocurrencies and digital assets, the year 2018 has been a mixed bag for OmiseGO so far. After last year’s insane gains – which pushed the OmiseGO price all the way to nearly $26, things have fallen apart in the early weeks of 2018. More specifically, we have seen the OmiseGO price drop down all the way to $8.12 in quick succession, which is never a good sign.
One golden rule in cryptocurrency is how every dip presents a new buying opportunity for investors and speculators. In the case of the OmiseGO price, people who managed to buy in at this recent dip have made some healthy profits over the past three weeks. As of right now, we are looking at an OmiseGO price of $20.16, which is not that far removed from the currency’s all-time high, all things considered.
Thanks to a solid 6.89% gain in USD value, the OmiseGO price is slowly surging back to its previous levels. This rise is also made possible thanks to a 7.94% gain in BTC value and an 8.9% increase in ETH value. With OmiseGO rising across the board, it will be interesting to see how high the price can go before the momentum turns around. After all, volatility is still a very big threat in the world of cryptocurrency right now, and that situation will not change anytime soon either.
With $147m in 24-hour trading volume, things are not looking all that bad for OmiseGO as of right now. Especially when considering how all currencies see less trading volume throughout 2018, this currency isn’t doing all that bad. There is always room for more trading volume in any cryptocurrency market, but for now, we will have to endure the current trend. Things will pick up again eventually, though.
Binance is the largest exchange for trading OmiseGO as of right now. Its OMG/BTC pair is well ahead of Upbit’s OMG/KRW and Ethfinex’s OMG/USD pairs. Bittrex and Huobi complete the top five, followed by Binance’s ETH market for OmiseGO. It seems there is no real arbitrage opportunity between these trading platforms as of right now, even though there are small differences to take advantage of for those willing to take the risk.
The way things look right now, it is evident the OmiseGO price may very well gain a few more dollars during the day. At the same time, the overall cryptocurrency market sentiment is still a bit bearish. Whether or not OMG cna escape this vortex moving forward, is a question no one can really answer right now. With a value of $20, the OmiseGO price is in a good place right now, but maintaining this positive trend will not be easy.